For the purposes of Article 23(1) of Regulation (EU) No 600/2014 the legal and supervisory framework applicable to stock exchanges in Switzerland set out in the Annex to this Decision shall be considered to be equivalent to the requirements resulting from F1that Regulation, Regulation (EU) No 600/2014, Regulation (EU) No 596/2014 and F2Directive 2004/109/EC and to be subject to effective supervision and enforcement.