{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2023-03-23","held_since":"2023-03-23","gaps":[],"covered":["MiFID II L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":null,"checked_against":null},"truncation":{"shown":1,"total":1,"capped":false,"cap":1000,"next_cursor":null},"failures":[],"incomplete":[]},"page":{"path":"/mifid-ii/articles/18","url":"https://www.headlesslaw.com/mifid-ii/articles/18","title":"Article 18 — Trading process and finalisation of transactions in an MTF and an OTF","work_id":"mifid2","date_state":"past","as_of":"2024-03-28","relations_url":"https://www.headlesslaw.com/mifid-ii/articles/18/relations"},"as_of":"2024-03-28","counts":{"implements:in":1},"relations":[{"edge_id":"d8e39b3614f729d1f0d8","scope":"unit","type":"implements","direction":"in","resolution":"resolved","basis":"curated_edge_tsv","method":"bl21-edge-tsv","confidence":"curated","src_from":"2016-06-15","src_until":null,"span":null,"dst_raw":"eu.mifid2.article.18","other":{"work_id":"spaces/mifid-ii/level-2/its/2016-824-the-content-and-format-of-the-description-of-the","level":"L2","locator":"spaces/mifid-ii/level-2/its/2016-824-the-content-and-format-of-the-description-of-the/head","url":"/mifid-ii/level-2/its/2016-824-the-content-and-format-of-the-description-of-the","title":"ITS — Description of the functioning of multilateral trading facilities [in force]","key":"2016/824","state_on_date":"in_force"},"evidence":{"tsv":"_research/coverage/bl21-l1-l2l3-edges.tsv","row":516,"evidence":"legal_basis: the third subparagraph of Article 18(11) MiFID II | CELLAR 32016R0824: A18P11L3","doc_type":"its"}}],"not_served":["exempts","derogates_from"],"note":"inverse edges are computed from the stored direction; floating targets are resolved on as_of (other.state_on_date)"}