Real Time Market Data

The fee for market data varies depending on the type of data and how it is used.
Please see Policies Regarding Usage of Market Information (9. Rate Table).

Policies Regarding Usage of Market Information pdf

 

Fee estimate examples:
(The following are examples for reference only. The actual fee amount will vary depending on how the data is used, so for a more accurate estimate, please contact TSE.)

(Monthly)
Usage License Fee Usage Fee (External Distribution Basic Fee) Real-Time Terminal Fee charged directly by TSE (Volume Charge) Total
Receiving full depth data directly from TSE or through market information providers and redistributing to third parties JPY 1,510,000 JPY 1,450,000 Yes JPY 2,960,000
+ Volume Charge
Receiving real time last sales price data from a market information provider and redistributing to third parties JPY 570,000 JPY 570,000 Yes JPY 1,140,000
+ Volume Charge
Receiving 20 minute-delayed last sales price data from a market information provider and redistributing to third parties JPY 190,000 JPY 190,000 No JPY 380,000
Receiving closing data (EOD) from a market information provider and redistributing to third parties JPY 140,000 JPY 140,000 No JPY 280,000
Receiving real-time data from a market information provider for internal use only (An end user license may be required under certain conditions) None
(JPY 110,000 only when receiving full depth data)
None No None
(JPY 110,000 only when receiving full depth data)
・The usage fees above are based on subscription based services. For other usages, other fees may apply.
・When receiving the data directly from TSE, other fees including dedicated connection line fees, system infrastructure fees and connectivity services fees will apply separately.
・For connectivity services fees, please refer toConnectivity Services

Market Information Fee for Cash Equity - Revision of Real-Time Terminal Fees-

Along with the implementation of the new small investment tax exemption system “New Nippon Individual Savings Account (New NISA)” in January 2024, Real-Time Terminal Fees for Personal Usage will be revised from January 2024 to further encourage retail investors to use real-time market information as follows.

Current

     
Volume category /
Information level
~50,000 50,001~
100,000
100,001~
200,000
200,001~
400,000
400,001~
BBO5 JPY 140 JPY 110 JPY 85 JPY 55 JPY 40
BBO10 JPY 150 JPY 120 JPY 95 JPY 65 JPY 50
Full-Depth JPY 190 JPY 150 JPY 115 JPY 85 JPY 60

After Revision

     
Volume category /
Information level
~50,000 50,001~
100,000
100,001~
200,000
200,001~
400,000
400,001~
1,000,000
BBO5 JPY 135 JPY 105 JPY 82 JPY 53 JPY 38
BBO10 JPY 145 JPY 115 JPY 92 JPY 63 JPY 48
Full-Depth JPY 190 JPY 150 JPY 115 JPY 85 JPY 60
     
(continued)
Volume category /
Information level
1,000,001~
1,500,000
1,500,001~
2,000,000
2,000,001~
3,000,000
3,000,001~
5,000,000
5,000,001~
BBO5 JPY 30 JPY 25 JPY 20 JPY 15 JPY 0
BBO10 JPY 40 JPY 35 JPY 30 JPY 25 JPY 0
Full-Depth JPY 60

(note)
  • ・The above Fees are Real-Time Terminal Fees for Personal Usage.
  • ・The fees will be applied from January 2024 (based on the report of number of units for November 2023).

Promotional Rates for Cash Equity Market Information Fees -Waiver of Real-Time Terminal Fee-

TSE is offering a special program to entities that do not currently distribute TSE real-time market information, including domestic and overseas financial instruments business operators and Fintech companies that are looking to adopt new business models for provision of investment-related information, to encourage them to consider distributing TSE real-time market information.
The program will provide promotional rates for some real-time market information categories (last sales prices information and not using pre-opening nor depth (using only best bids/offers during the auction trading session) information) for 2 years if the application for promotional rate is submitted to TSE.
From October 1, 2022, the volume charge Real-Time Terminal Fee is waived while the promotional rate is applied.

Comparison between Regular Rates and Promotional Rates

(Monthly)
  Regular Rates Promotional Rates
Not using pre-opening nor depth information
(using only best bid/offer prices during the trading sessions)
JPY 2,250,000
+
Real-Time Terminal Fee
JPY 380,000
Last sales prices only JPY 1,140,000
+
Real-Time Terminal Fee
JPY 380,000

(note)
  • ・The above Fees are the total of the License Fee and External Distribution Basic Fee.
    Other fee items will be charged in accordance with Policies Regarding Usage of Market Information (9. Rate Table).
    For details, please refer to the document below.
Promotional Rates for Cash Equity Market Information Fees
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Enquiries:

Tokyo Stock Exchange, Inc., Equities, Data Services
TEL:+81-50-3377-7859
E-mail:mains@jpx.co.jp