MAINS (MArket INformation System)

MAINS

Update : Mar. 15, 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.

• Market Information Providers

1.Subjects of License Agreement

Subjects of Information Provision and License Agreement

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.)

Subjects of End-User License Agreement

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.".

• (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;


• (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).




• (※) Facilities provided by TSE as TSE Connectivity Service, including TSE datacenter and access points.

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.

• TSE Connectivity Services

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
Policies Regarding Usage of Market Information (Effective from July16th2013)
Fee Schedule after the market consolidation with Osaka Securities Exchange Co.,Ltd. (applied after the cash equities market consolidation and the derivatives market consolidation)

2.Flow of Contractual process

For Information Provision and License Agreement

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.

• TOPIX License

For End-User License Agreement

"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

(Note)

• (*) When accessing MICS for the first time, security certificate needs to be installed. For details, please see 3.4 of Market Information Client System Manual.

Market Information Client System Manual

3.Contents provided by MAINS

The Market Information System offers the following data.
Please also refer to the following documents.

(Reference) Summary of TSE Information Products

			FLEX Standard	FLEX Light*1	FLEX Full*2 FLEX Full(WB)*3	Tdex+API
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)
Transmitted Data	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
	Pre-opening session		issue information, base price of the relevant day, index value on previous business day		-	-
	once or twice a day		open position (for derivatives)		-	-
	Post-afternoon session		issue information, base price of the next day, open/high/low/close prices (per day)		-	Settlement prices
	Indices	Per 1second	TOPIX, TOPIX Core30, TOPIX 500, TOPIX 1000		-	-
		Per 15seconds	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		-	-
		Per Update	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		-	-

• (*1)FLEX Light provides "snapshot" of Real-Time data.
• (*2)Base price information and Issue information which FLEX Standard transmits is available for FLEX Full or FLEX Full(WB) users.
  Concerning IP address, etc.. Please refer to the FLEX connection specification on FLEX Standard.
  
• (*3)The same messages with FLEX Full through a wider bandwidth(1Gbps).
  
• (*4)"Regional exchanges" refers to the Fukuoka, and Sapporo exchanges.
  
• (*5)For High-Speed Indices etc., please also refer to the below announcements.
  
  
  

• “TSE trims interval of TOPIX, etc. Distribution to 1 second from September 13 - "High-Speed Index Dissemination Service" slated for February, 2011 launch- ”

• Calculation Methods for TOPIX

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