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Information services

Monthly market information fees

Update : Feb. 10, 2010
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Market information fees vary as follows, depending on the type of lines and the data in use. Subscribers receiving data directly from the Market Information System (MAINS) will incur additional fees for communication lines and connection equipment.

* Market information fees are composed of License Fee and Usage Classification Fee as follows. Japanese consumption tax will be added for domestic users.

Fee Table

License Fee

The license fee is determined according to the type of line. Applicants can establish a direct connection to the MAINS and obtain the data directly from the TSE (direct use). Alternatively, they can acquire the data from other subscribers to the MAINS (indirect use). License Fee for indirect users receiving real-time data depends on the information Licensee distributes.

(Direct use)

(Unit:Yen)
  General Trading Participant Non-Trading Participant
(i)FLEX Standard*1 650,000 1,150,000
(ii)FLEX Standard(Derivative Products Only)*1 390,000 690,000
(iii)FLEX Light*1 630,000 1,130,000
(iv)FLEX Light(Derivative Products Only)*2 370,000 670,000
(v)FLEX Full 400,000 600,000
(vi)FLEX Full (FLEX User rate)*3 100,000 150,000
(vii)Tdex+API 200,000 300,000
(viii)Tdex+API (FLEX User rate)*4 (Free of Charge)
*1 If you do not wish to receive the best bid/ask information via FLEX Standard and FLEX Light, the price for the General Trading Participant will be 550,000 yen and Non-Trading Participant will be 1,000,000 yen
*2 If you do not wish to receive the best bid/ask derivative information via FLEX Standard and FLEX Light, the price for the General Trading Participant will be 330,000 yen and Non-Trading Participant will be 600,000 yen.
*3 It is applied when paying License Fee for above (i) or (iii).
*4 It is applied when paying License Fee for above (i),(ii),(iii)or(iv).

(Indirect use)

If multiple usages are applicable, only the highest rate shall apply.

(Unit:Yen)
    Non-Trading Participant Non-Trading Participant
Real-Time Information Full-Depth 750,000 1,300,000
Up to BBO8 650,000 1,150,000
Up to BBO8
(Derivative Products Only) 		390,000 690,000
Not using pre-opening nor depth Info 550,000 1,000,000
Not using pre-opening nor depth Info(Derivative Products Only) 330,000 600,000
For Originally Created Works Only 500,000
Delayed Information*1 Delayed Details Information 180,000 250,000
Delayed Last Sales Information 120,000 170,000
Closing Information*2 70,000 120,000
TSE Index Information Only 50,000
*1 "Delayed Information" must be delayed by at least 20 minutes from the origination of the information. (Excluding Base Price of Daily Price Limit Information). "Delayed Last Sales Information" is delayed information excluding quotation information (bid/ask) etc. "Delayed Details Information" is delayed information which does not fall under "Delayed Last Sales Information".
*2 "Closing Information" includes open/high/low/close prices, and statistical information such as trading volume."Closing Information" must be published at least 20 minutes after the close of each market session.

Usage Classification Fee

(1) Internal Usage Fee

An Internal Usage Fee is charged to brokers and other organizations which perform direct use of real time data for in-house operations (support for dealing activities, position/risk control, etc).

Internal Usage Fee consists of Internal Usage Basic Fee and Internal Usage Terminal Fees.

(a) Internal Usage Basic Fee

Internal Usage Basic Fee is 260,000 yen.

(b) Internal Usage Terminal fee

(Unit:Yen)
Number of terminals Internal Usage Fee
BBO5 BBO8 Full-Depth
Up to 300th units 0 2,200 3,000
Applied to 301st to 600th units 430 2,000 2,700
Applied to 601st to 1,200th units 215 1,750 2,400
Applied to 1,201st to 2,400th units 105 1,500 2,100
Applied to 2,401st to 4,800thunits 50 1,100 1,500
Applied to more than 4,800th units 0

However, in case of reporting number of units which display only BBO5 by estimation, the rate for the unique ID/terminals which display only BBO5 shall be the following rate.

(Unit:Yen)
Number of terminals Internal Usage Fee
Up to 300 units 0
More than 300 and up to 600 units 130,000
More than 600 and up to 1,200 units 260,000
More than 1,200 and up to 2,400 units 390,000
More than 2,400 units 520,000

(2) External Distribution Fee

External Distribution Fee consists of External Distribution Basic Fee and External Distribution Terminal Fees.

For definition of "Personal Usage" and unit of count, please refer to "Policies Regarding Usage of Market Information."

(a) External Distribution Basic Fee

External Distribution Basic Fee depends on the information to be distributed.

(Unit:Yen)
    Non-Trading Participant Non-Trading Participant
Real-Time
Information		 Full-Depth 750,000 1,300,000
Up to BBO8 650,000 1,150,000
Up to BBO8
(Direct connection to FLEX Light Only)		 630,000 1,130,000
Up to BBO8
(Derivatives product only)		 390,000 690,000
Up to BBO8
(Derivatives product only/Direct connection to FLEX Light Only)		 370,000 670,000
Not using pre-opening nor depth Info 550,000 1,000,000
Not using pre-opening nor depth Info
(Derivatives product only)		 330,000 600,000
Last Sales Price Only 275,000 500,000
Last Sales Price Only
(Derivatives product only)		 165,000 300,000
Delayed
Information		 Delayed Details Information 180,000 250,000
Delayed Last Sales Information 120,000 170,000
Closing Information 70,000 120,000
TSE Index Information Only 50,000
TV/Radio Broadcasting/Information Provision with Printed Medium Only 100,000

(b) External Distribution Terminal Fee

    General Usage*1 Personal Usage*2
Real-Time Information BBO5 2,000 yen / terminal 110 yen / terminal
BBO8 2,200 yen / terminal 120 yen / terminal
Full-Depth 3,000 yen / terminal 160 yen / terminal
Delayed & Closing Information
(Applicable to"Open Access Terminal Service")		 Delayed Details Information 150,000 yen
Delayed Last Sales Information 100,000yen
Closing Information 50,000 yen

Vendors reporting large number of terminals may receive the large volume discounts outlined below.

*1 Discount for General Usage
No. of
Terminals 		3,001st to
5,000th		 5,001st to
10,000th		 10,001st to
20,000th 		20,001st to 4,000th After 4,000st
BBO5 1,800 yen 1,600 yen 1,400 yen 1,000 yen
BBO8 2,000 yen 1,750 yen 1,500 yen 1,100 yen 1,000 yen
Full-Depth 2,700 yen 2,400 yen 2,100 yen 1,400 yen 1,200 yen
*2 Discount for Personal Usage
No. of
Terminals 		50,001st to
100,000th 		100,001st to
200,000th 		200,001st to
400,000th 		After 400,001st
BBO5 90 yen 70 yen 50 yen 40 yen
BBO8 100 yen 80 yen 60 yen 50 yen
Full-Depth 130 yen 100 yen 80 yen 60 yen

(3) Information Usage for Off-Exchange Transaction Fee

Electronic Communications Networks (ECNs) or off-exchange market makers utilizing data from the MAINS for off-exchange transaction shall pay the following fees.

Real Time Data Full-Depth 1,880,000 yen
BBO8 1,380,000 yen
BBO5 1,250,000 yen
BBO5(Direct Connection to FLEX Light Only) 1,230,000 yen
Not using pre-opening nor depth info 110,000 yen
Delayed Data Delayed Details Information 530,000 yen
Delayed Last Sales Information 350,000 yen
Closing Data   250,000 yen

(4) Index Information Usage Fee

Subscribers to the MAINS calculating and publishing their own indices on a real time or delayed basis, or offering tradable index derivatives are subject to the following fees.

Index Information External Dissemination Fee 200,000 yen
Index Information Usage for Off-Exchange Transaction Fee 100,000 yen per product per listed exchange

(5) Base Price of Daily Price Limit Information Usage Fee

The following amount of Base Price of Daily Price Limit Information Usage Fee is charged to subscribers using Base Price of Daily Price Limit Information

General Trading Participant 30,000 yen
Non-Trading Participant 100,000 yen

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.


*For an example of payment please click "Q & A - Market information fees"
Q & A - Market information fees