MAINS (MArket INformation System)

Q & A - Market Data System Fees

Update : Dec. 01, 2011

*Please note that all figures are based on the fee schedule for non-Trading Participants.
*Japanese consumption tax will be added for domestic users.

Q1: Which fees are applied when delayed information is displayed on a freely-accessible website?

A1:

If the Delayed Last Sales Information (delayed data excluding quote prices and sizes) and Delayed Details Information are received via a TSE-contracted information vendor(*1)the fees are as follows:

Q2: Which fees are applied when real time data is distributed through website to non-professional clients?

A2:

The fees are the same regardless of whether the data is received directly from TSE or indirectly from a vendor.

(1)Direct from TSE

e.g. Using FLEX Standard (distributing BBO8 information):

*3.The number of unique IDs accessible to the real time data shall be reported monthly and TSE calculates the fees based on the report.

(2)Indirectly from vendor

e.g. Receiving and distributing BBO8 information from a vendor:

*4. The License Fee is determined by the information to be distributed.

As noted above, fees for real time data are calculated based on the reported number of unique IDs. Therefore, real time data must be provided in the environment where such report is possible. Please refer to the "Policies Regarding Usage of Market Information" for details about restrictions to provide real time data.

Q3: Which fees are applied when real time data is distributed to non-professional clients while delayed data is displayed on a freely-accessible website?

A3:

BEWARE this is not as simple as it seems. It is not just a case of adding the two fees given in A1 and A2 above. For multiple services, duplicated payment of the same fee items is not necessary and the highest amount for each item is applied. (*5)

*5. Excluding "License Fees" in case where multiple lines are directly connected to TSE.
*6. Only the License Fee for real time data (1.15 million yen) is applied as it is higher than that for delayed data (170,000 yen or 250,000 yen).
*7. The same rule as above *6 applies to the External Distribution Basic Fee.

Q4: Which fees are applied if the real time and delayed information are received from different vendors in Q3?

A4:

BEWARE this is not as simple as it seems. It is not just a case of adding the two fees together (it is not 440,000 yen + 2.3 million yen + 110 yen/non-professional client in case of current fee table). Again, as in question 3, for multiple services duplicated payment of the same fee items is not necessary and the highest amount for each item is applied.

Q5: How much would External Distribution Terminal Fee be when both BBO8 and Full-Depth real-time information are distributed to non-professional clients?

A5:

The monthly fees for External Distribution Terminal Fee depend on the number of terminals (*8) using Full-Depth information and BBO8 information. (*9)
e.g. 1,000 terminals used Full-Depth information and 500 terminals used BBO8 information:

•External Distribution Terminal Fee is,
160 yen x 1,000 (number of terminals which used Full-Depth information) + 120 yen x 500 (number of terminals which used BBO8 information)
The total is 220,000 yen/month.

*8 Please report the number of terminals which used Full-Depth information and BBO8 information separately.In A5, monthly report will be

• The number of terminals which used Full-Depth information 1,000
• The number of terminals which used BB8 information 500

*9 For the terms of Full-Depth information and BBO8 information, please refer to "Policies Regarding Usage of Market Information".