(for applicants applying for real-time datafeed(s) under the Market Data Vendor Licence Agreement)
1. An application is deemed to have been formally lodged with HKEX-IS when the applicant formally submitted Form A1, Form A2 and Form A3. A letter of acknowledgement (“Letter A1”) of the submission of Form A1, Form A2 and Form A3 will be issued.
2. After Form A1, Form A2 and Form A3 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 B1”) to the applicant. Upon receipt of Letter B1, the applicant is required to:
i) Pay the deposit required for the real-time Datafeed(s);
ii) Provide information required under the Market Data Vendor Licence Agreement (e.g. authorized signature details, Contact Update Form, Website Publishing Form etc.); and
iii) Complete the SD Net Line Application Form (applicable to applicant that requires direct connection).
The applicant has to provide all information required under Form A1, Form A2, Form A3 and Letter B1 and to pay the deposit required normally within a period of 4 months from the date of Letter A1. HKEX-IS may grant an extension of no longer than 2 months 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 deposit and the information required under Letter B1; result of the application will normally be available in two weeks.
3. If the applicant decided to withdraw its application after the deposit payment, an application processing fee of $50,000 per Datafeed will be deducted from the deposit payment and the balance will be refunded to the applicant.
4. For applicant that chooses to receive the data indirectly, the Market Data Vendor Licence Agreement will be issued to successful applicant once its application is approved.
5. For applicant that chooses to receive the data directly from HKEX-IS systems, 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 4 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 Vendor Licence Agreement will be issued to the applicant for execution upon the completion of its Certification Test.
6. Datafeed Commencement Date: For applicant applying for indirect connection, the datafeed commencement date must be within 6 months from the date of Letter A1. For applicant applying for direct connection, the datafeed commencement date must be within 10 months from the date of Letter A1.