MAINS (MArket INformation System)

Market Information Fees for Licensed End-User

Update : Dec. 01, 2011

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Licensed End-Users may be subject to fees according to the information they use and how they report the number of terminals.

"Licensed End-User" is those who have obtained approval from TSE by submitting "Application Form for License of Information Usage by End-User" by agreeing with "Terms and Conditions about Information Provision and Licensing for End-User", for they fall under any of the following cases (1) through (3).


(1) When information vendors etc. which provide Real-Time Information do not technologically control the total number of your access rights to Real-Time Information (e.g. End-User is controlling the number of access rights to Real-Time information within their company);
(2) When you receive Real-Time Information in the TSE Co-Location Facility;
(3) When TSE deems that you receive Real-Time Information in a manner equivalent to direct connection to TSE system (e.g. in the case that you receive Real-Time Information with TSE proprietary message format).


Fees related to Licensed End-User

Among Licensed End-User, those who have chosen (3)(ii) Fixed Fee Method or who fall under any one of II(1), (2) or (3) are charged directly by TSE. Please pay the related fees directly to TSE.
Please note that if (3)(ii) Fixed Fee Method is chosen and either II(1), (2) or (3) are applicable the Licensed End-User is subject to both Real-Time Terminal Fee and Full-Depth Access Fee.

I Real-Time Terminal Fee

When Service Providers such as information vendors do not technologically control the total number of access rights to Real-Time information, depending on the information usage reporting methods etc. differ.

(1)For access rights that are provided by authorizing unique User IDs and Passwords etc. to each individual:
Please report the total number of the unique User IDs. (No Fees are charged directly from TSE.)
(2)For access rights that are installed to each devices, such as dedicated terminals, which display Information on the screen:
Please report the total number of the terminals. (No Fees are charged directly from TSE.)
(3)For access rights that are installed to each device whose purpose is not displaying the Information(e.g. servers, in which applications using Real-Time information are installed) :
For these non-display devices, please choose either one of the method, (i) or (ii).


(i) Normal Method
Please report the total number of the non-display terminals with the number of terminals/ unique IDs for above (1) and (2). (No Fees are charged directly from TSE)


(ii) Fixed Fee Method
Please pay 150,000 yen per month directly to TSE, irrespective of the number of the devices.
There is no need to report the number of the terminals related to these devices to information vendors.
(Please note that you still need to report the number of terminals/ unique IDs for above (1) and (2) to information vendors)


II Full-Depth Feed Access Fee

If either of the following cases applies, Licensed End-User shall pay 100,000 yen per month directly to TSE. Please note that Full-Depth Information includes number of orders at every price point, size and number of conditional close orders at every price point, each quote price and size beyond 8th best quotes.

(1) When service providers such as information vendors do not technologically control the total number of the access rights to Full-Depth Real-Time Information.
(2)When receiving Full-Depth Real-Time Information in TSE Co-Location Facility.
(3) When TSE deems that Full-Depth Real-Time Information is received in a manner equivalent to direct connection to TSE system.


Remarks

The fee table above is presented as a simplified version of the official Fee Table. Please refer to the "Policies Regarding Usage of Market Information" for the official Fee Table.

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