Update : Jul. 16, 2013
There are two ways that you can receive market information concerning market prices on TSE's market. You can either receive the information directly from TSE through a dedicated line, or you can obtain the data indirectly from authorized information vendors etc.
When you receive data directly from TSE, you are required to execute "Information Provision and License Agreement" with TSE.
Also, you are required to execute the Agreement when you distribute the TSE market information to the third party, even if you are receiving the information indirectly from authorized vendors etc. (You may not distribute TSE market information without TSE's approval.)
If you indirectly receive Real-Time Information in a manner which falls under any of the following cases (1) through (3) and use it internally, you are required to obtain 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.".
Please see here for the summary of the cases when you need to execute direct agreement with TSE.
|Necessary agreement with TSE|
For TSE Co-Location Service, please refer to the below page for details.
For details about usage of TSE market information, please refer to the following documents:
|Information Provision and License Agreement|
|Terms and Conditions about Information Provision and Licensing for End-User|
|Policies Regarding Usage of Market Information|
|Fee Schedule after the market consolidation with Osaka Securities Exchange Co.,Ltd. (applied after the cash equities market consolidation and the derivatives market consolidation)|
The following process is normally followed when initiating a new Information Provision and License Agreement.
|1. Initial hearing||About 2 weeks|
|2.Execution of the Information Provision and License Agreement|
|3. Submission of Application for Connection to TSE Network||About 2 months|
|4. Installation of the line|
|5. Commencement of the service|
|Flow of Procedures for Information Provision and Licnese Agreement|
It takes about two weeks from the initial hearing to the execution of the contract, and then two months or so before the subscriber starts receiving data. For subscribers obtaining the data indirectly from information vendors etc., step 3 and 4 are not necessary.
Application related to Information Provision and License Agreement needs to be submitted via Market Information Client System (MICS) below.
TOPIX license agreement may be additionally required when distributing TOPIX index data.
"Application Form for License of Information Usage by End-User" needs to be submitted via Market Information Client System (MICS) below. (It takes about two weeks to approve your application.)
For details of the process of End-User's Application, please see Flow of procedures for End-User License Agreement.
|Flow of procedures for End-User License Agreement|
|Market Information Client System Manual|
The Market Information System offers the following data.
Please also refer to the following documents.
|(Reference) Summary of TSE Information Products|
||FLEX Light*1||FLEX Full*2
|Communication Protocol||Full Duplex Communication|
|Issues Covered||Tokyo (all issues excluding straight bonds, derivatives and TOKYO PRO-BOND Market), other regional exchanges(*4)(all issues excluding bonds.)||Tokyo (all issues excluding straight bonds, derivatives and TOKYO PRO-BOND Market), other regional exchanges(*4)(all issues excluding bonds.)||Tokyo (derivatives only)|
|Real Time Data||open/high/low/close prices (per session),trading volume, trading value, VWAP||current price, trading volume, trading value, every quote price and size, number of orders at every price point, size and number of Conditional Close Orders at every price point||current price, trading volume, every quote price and size|
|5 last sale prices, 8 best quote prices/sizes, accumulated quote sizes beyond 8th best quotes, parity, and theoretical price for warrant bonds|
|issue information, base price of the relevant day, index value on previous business day||-||-|
|once or twice a day||open position (for derivatives)||-||-|
|issue information, base price of the next day, open/high/low/close prices (per day)||-||Settlement prices|
|TOPIX, TOPIX Core30, TOPIX 500, TOPIX 1000||-||-|
|Other TOPIX New Index Series listed above, TOPIX Sector Indices, TOPIX-17 Series, Size-based TOPIX Sub-Indices, TOPIX Style Index Series, Tokyo Stock Exchange Second Section Stock Price Index, Tokyo Stock Exchange Mothers Index, Tokyo Stock Exchange REIT Index, Ex-TOPIX, Tokyo Stock Exchange Composite Index Series, Indicative NAV, Tokyo Stock Exchange REIT Property Sector Index Series, Tokyo Stock Exchange Dividend Focus 100 Index, TOPIX Active in Asia Index, Tokyo Stock Exchange Mothers Core Index, TOPIX Leveraged Index, TOPIX Inverse Index, JASDAQ INDEX, JASDAQ INDEX(Standard), JASDAQ INDEX(Growth), J-Stock Index, JASDAQ-TOP20, Nikkei JASDAQ Stock Average||-||-|
|High-Speed Indices, High-Speed Indices (Best Offer Quote) and High-Speed Indices (Best Bid Quote) of TOPIX, TOPIX Core30, TOPIX 500 (*5)||-||-|
|Statistic data||Periodic||total trading volume and value by market section, VWAP, average stock price, market capitalization, average yield, the number of issues rising/declining, convertible bond statistics
Matching ratio, 30 biggest % movers in terms of trading volume, trading value and price change
For more information
Tokyo Stock Exchange, Inc., Information Services
Tel: +81-50-3377-7859 (English 9:00am ∼ 5:00pm GMT+9)
e-mail : email@example.com