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Real Time Market Data

In order to acquire real time market data, execution of contracts with TSE is required except for certain data usage. For details about execution of contracts or contract types, please see the following chart.

Information Provision and License Agreement (IPLA)

In cases where the user receives information directly from TSE or the user receives information via market information providers and redistributes it to third parties, execution of an Information Provision and License Agreement (IPLA) with TSE is required.
(Redistribution of data acquired from market information providers to third parties is not allowed without prior permission from TSE.)

Contractual Procedures

Procedures Average Time Taken
(1) Initial hearing for market data usage and fee
Please refer to "Policies Regarding Usage of Market Information".		 icon-pdf About 2 weeks
(2) Execution of IPLA
An exchange of signatures is required.		 icon-pdf
(3) Registration on Market Information Client System (MICS)(Online registration)
TSE will provide instructions for this registration when the agreement is executed.		 -

(note)
  • ･When receiving data directly from TSE, besides the procedures above, other procedures including applications for the network connection or setting up dedicated connection lines will also be required. Setting up dedicated connection lines takes approximately 2 months for regular connections lines and 4-6 months for 10G connection lines.

End-User License Agreement

In cases where a user receives information from a market information provider but does not redistribute it to third parties, if any of the following applies, the user is required to obtain approval from TSE by submitting an “Application Form for License of Information Usage by End-User.”

  1. The market information provider does not technologically control the total number of the user’s access rights to real-time information;
  2. The user receives real-time information in a TSE Co-Location Facility;
  3. TSE deems that the user receives real-time information in a manner equivalent to a direct connection to the TSE system (e.g. in the TSE proprietary message format.).

Contractual Procedures

Procedures Average Time Taken
(1) Initial hearing for market data usage and fee
Please refer to "Policies Regarding Usage of Market Information".		 icon-pdf About 2 weeks
(2) Registration on Market Information Client System (MICS)(Online registration)
Agreement to "Terms and Conditions about Information Provision and Licensing for End-User"
TSE will provide instructions for this registration when the agreement is executed.
NO signatures are required.		 icon-pdf

 

Enquiries:

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