The European Commission Implementing Decision on the equivalence of US designated contract markets (DCMs) has been published in the Official Journal. The Implementing Decision states that, for the purposes of Article 2(7) of EMIR, the boards of trade designated by the CFTC as contract markets in the US shall be considered as equivalent to regulated markets as defined in MiFID. A derivatives contract that is executed on a US DCM will not be considered to be an OTC contract under EMIR and, as such, will not be subject to the EMIR central clearing requirements. The 15 DCMs are listed in the Annex to the Implementing Decision. They include: Cantor Futures Exchange, Chicago Board of Trade, Chicago Mercantile Exchange., ICE Futures U.S., New York Mercantile Exchange, and Nasdaq Futures. The Implementing Decision comes into force on 23 July 2016.