{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2022-01-01","held_since":"2022-01-01","gaps":[],"covered":["MiFIR L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-11-01","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mifir/recitals/12","url":"https://www.headlesslaw.com/mifir/recitals/12","title":"Recital 12","family":"l1_recital_view","work_id":"mifir","view_of":"/mifir/recitals","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"Regulation (EU) No 600/2014, OJ L 173, 12.6.2014","check":{"against":"EUR-Lex","on":"2026-11-01"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014R0600","valid_from":"2022-01-01","valid_until":null,"content_id":"0440b1e0d7f8ca92","versions":["2022-01-01"],"version_url":"https://www.headlesslaw.com/mifir/recitals/12/versions/2022-01-01","revision_url":"https://www.headlesslaw.com/mifir/recitals/12/versions/2022-01-01/rev/0440b1e0d7f8ca92","versions_url":"https://www.headlesslaw.com/mifir/recitals/12/versions","relations_url":"https://www.headlesslaw.com/mifir/recitals/12/relations","act_url":"https://www.headlesslaw.com/mifir/recitals","source_line":null,"attribution":null,"context":{"act":{"work_id":"mifir","path":"/mifir/recitals","name":"MiFIR","number":"Regulation (EU) No 600/2014","celex":"32014R0600","title_official":null,"document_date":null},"position":{"kind":"recital","key":"12","index":12,"articles":55,"annexes":0},"prev":{"path":"/mifir/recitals/11","key":"11","title":"Recital 11"},"next":{"path":"/mifir/recitals/13","key":"13","title":"Recital 13"},"act_anchor":""}},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014R0600","check":{"result":"matched","checked_at":"2026-11-01","against":"EUR-Lex"},"repo_path":"spaces/mifir/recitals.md","unit_text_sha256":"931c3be6bc8c8f95e33d136929c406a96f554d4f860da6b0c9b7eb0b06847159","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"mifir/recitals/rec/12","kind":"recital","key":"12","heading":"","text":"Trading in depositary receipts, ETFs, certificates, similar financial instruments and shares other than those admitted to trading on a regulated market takes place in largely the same fashion, and fulfils a nearly identical economic purpose, as trading in shares admitted to trading on a regulated market. Transparency provisions applicable to shares admitted to trading on regulated markets should thus be extended to those financial instruments.","marks":[],"text_hash":"931c3be6bc8c8f95e33d136929c406a96f554d4f860da6b0c9b7eb0b06847159","revision":1,"blocks":[{"locator":"mifir/recitals/rec/12/block/1","text_hash":"931c3be6bc8c8f95e33d136929c406a96f554d4f860da6b0c9b7eb0b06847159","revision":1}]}}