- HOME
- Market Information
- Information Services
- MAINS (MArket INformation System)
- Monthly market information fees
MAINS (MArket INformation System)
Monthly market information fees
Update : Feb. 01, 2013
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 Fee will be amended with the market consolidation with Osaka Securities Exchange (Cash Equities Markets and Derivatives Markets). Please refer this web page (http://www.tse.or.jp/english/market/mkinfo/mains.html).
TSE Connectivity Services
Monthly 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)
| General Trading Participant | Non-Trading Participant | |
|---|---|---|
| (ⅰ)FLEX Standard | 650,000 | 1,150,000 |
| (ⅱ)FLEX Light | 630,000 | 1,130,000 |
| (ⅲ)Not using pre-opening nor depth Info*1 | 550,000 | 1,000,000 |
| (ⅳ)FLEX Full | 400,000 | 600,000 |
| (ⅴ)FLEX Full (FLEX User rate)*2 | 100,000 | 150,000 |
| (ⅵ)Tdex+API | 150,000 | 250,000 |
| (ⅶ)Tdex+API (FLEX User rate)*3 | (Free of Charge) | |
- (*1)Applied when using only BBO5(excluding pre-opening Informatio and from the 2nd to the 5th best bid/ask prices and sizes).
- (*2)Applied when paying License Fee for above (ⅰ),(ⅱ)or(ⅲ)for FLEX Standard/FLEX Light.
- (*3)Applied when paying License Fee for above (ⅰ),(ⅱ)or(ⅲ)for FLEX Standard/FLEX Light.
(Indirect use)
If multiple usages are applicable, only the highest rate shall apply.
| General Trading Participant | Non-Trading Participant | ||
|---|---|---|---|
| Real-Time Information | Full-Depth | 750,000 | 1,300,000 |
| Up to BBO8 | 650,000 | 1,150,000 | |
| Not using pre-opening nor depth Info | 550,000 | 1,000,000 | |
| Last Sales Price Only | 275,000 | 500,000 | |
| Derivative Products Information Only | 150,000 | 250,000 | |
| For Originally Created Works Only
|
500,000 | ||
| For Originally Created Works Only (Derivatives Products Only) |
80,000 | ||
| 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
| 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.
| 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.
| General Trading Participant | Non-Trading Participant | ||
|---|---|---|---|
| Real-Time Information |
Full-Depth | 750,000 | 1,300,000 |
| Up to BBO8 | 650,000 | 1,150,000 | |
| Not using pre-opening nor depth Info | 550,000 | 1,000,000 | |
| Last Sales Prices Only | 275,000 | 500,000 | |
| Derivatives Products Only | 150,000 | 250,000 | |
| 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 | |
| Real-Time Information (Applicable to"Open Access Terminal Service") |
Last Sales Price Only | 5,000,000 yen | |
| 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.
|
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 | 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 |
|
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 |
| Real Time Data | BBO8 | 1,380,000 yen |
| Real Time Data | BBO5 | 1,250,000 yen |
| Real Time Data | BBO5(Direct Connection to FLEX Light Only) | 1,230,000 yen |
| Real Time Data | Not using pre-opening nor depth info | 1,100,000 yen |
| Delayed Data | Delayed Details Information | 530,000 yen |
| Delayed Data | 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"