New End-User Application Procedure 
09/08/2017 
 

(for applicants applying for real-time datafeed(s) under the Market Data End User Licence Agreement)

 

Notes: 

 

1.  An application is deemed to have been formally lodged with HKEX-IS when the applicant formally submitted Form E1, Form E2 and Form E3.  A letter of acknowledgement (“Letter E1”) of the submission of Form E1, Form E2 and  Form E3 will be issued.    

2.  After Form E1, Form E2 and Form E3 are considered duly completed and at the preliminary assessment by HKEX-IS that the applicant is fit for licence, HKEX-IS will issue a confirmation letter (“Letter F1”) to the applicant.  Upon receipt of Letter F1, the applicant is required to:

i)   Pay the One-off Connection Fee required for the real-time Datafeed(s);

ii)  Provide information required under the Market Data End User Licence Agreement (e.g. authorized signature details, Contact Update Form etc.); and

iii) Complete the SD Net Line Application Form.

iv) Pay one extra quarter upfront payment on the Licence Fee on top of the normal billing cycle and arrangement if applicant is unable to meet the minimum paid-up capital requirement; or unwilling to disclose or unable to provide audited financial statements as proof of paid-up capital to HKEX-IS.  For the avoidance of doubt, if applicant commences the datafeed in the mid of a quarter, its normal billing will be pro-rated on a monthly basis of that current quarter plus the following complete quarter and the one extra quarter upfront payment.  As for applicant who enjoys the 3 calendar months fee waiver under the OMD Free Trial Programme for Premium and FullTick Datafeeds and Historical Full Book, the one extra quarter upfront payment on the Licence Fee on top of the normal billing cycle and arrangement is required to be settled before the end of the Free Trial Period.

The applicant has to provide all information required under Form E1, Form E2, Form E3 and  Letter E1 and to pay the One-off Connection Fee  and upfront payment (if any) required normally within a period of 2 months from the date of Letter E1.  HKEX-IS may grant an extension of no longer than 1 month on the merit of individual cases at the request of the applicant.  Otherwise, the application will lapse.  No new application from the same applicant will be considered within 6 months from the lapse date.

The application will be presented to the senior management for approval upon receipt of the One-off Connection Fee, upfront payment (if any) and the information required under Letter F1; result of the application will normally be available in 2 weeks

Please note that the One-off Connection Fee is non-refundable unless the application is rejected by HKEX-IS.

3.  A Provisional Approval Letter will be issued and the approval will be conditional upon the applicant’s successful completion of the systems’ Certification Test.  The Certification Test must be completed normally within 2 months from the issuance of the Provisional Approval Letter.  Extension of the certification period may be considered and granted by HKEX-IS on a case by case basis.  The Market Data End User Licence Agreement will be issued to the applicant for execution upon the completion of its Certification Test.  

4.  Datafeed Commencement Date: The datafeed commencement date must be within 8 months from the date of Letter E1.