Market Data

Historical Data Products can be ordered through HKEX Data Marketplace. Visit the Data Catalog, select the data product you are interested in and choose from the available licensing options.

If you require assistance, please contact us.

Yes. After selecting a data product in the Data Catalog, you can find the Product Specification and Sample File under Technical Details on the relevant product page.

Please contact us about your data requirements and we will explore how we may be able to assist.

HKEX Data Marketplace supports multiple payment methods, including:

• Bank transfer
• Credit card
• PayPal

The available payment options will be displayed at checkout based on the order details. If a payment option is unavailable or disabled, please select an alternative method to proceed.

Yes. All bank charges (including interbank charges) incurred must be borne by the subscriber. Please settle all bank charges separately with your bank so as to make sure that the exact order amount will be credited to our bank account.

Each data product has its own delivery schedule. You can find the Delivery Time on the relevant data product page.

Historical data products can be delivered via email download link, AWS S3 and SFTP (Secure File Transfer Protocol). The available delivery method(s) for each data product are shown on the relevant product page.

Log in to the HKEX Data Marketplace and go to My Account > My Data. Click Download under the Access Data column for the relevant data product to initiate a download request.

Alternatively, you can click the Download button on the product page for the relevant licensed data product.

For more details, please refer to HKEX Data Marketplace - Getting Started under User Guides.

Single product feed will limit the development of low latency feed as huge data volume may increase the bandwidth requirement and hence social cost to the market.  Different product feeds will offer choice to the customers on market data latency, content as well as bandwidth requirements.

FullTick feed is positioned to provide low latency data to the customers for building their order books.  Only the core market data, i.e. orders and trades, will be carried to guarantee the performance of the feed.  Clients who would like to receive the official statistics may wish to subscribe to Premium feed.

Broker queue in OMD is provided on conflated mode whilst the aggregate order book in Securities Premium (SP) is updated on a streaming basis.  Conflated Broker Queue is offered to other core OMD Securities datafeed products due to strong client demand.

It is a prudent approach of not disseminating the individual order information during the auction session to avoid any possible market manipulation during the price discovery process.

If information vendors subscribe to more than one OMD datafeed products, e.g. SS and SP, redistribution fee and connection fee for the first connection of both of these feeds are payable.  If information vendors subscribe to more than one set of the same OMD datafeed product, e.g. 2 sets of SP, the following fees will apply:

i. One redistribution fee of SP;

ii. One connection fee for the first set of standard connection of SP; and

iii. One connection fee for an additional set of standard connection of SP.

Yes, information vendor who subscribes SF can provide level 2 data services with applicable fees, e.g. HK$200 per terminal per month, subject to it is 10BBO and without individual order information.

Due to the multicast nature, we are not able to monitor the test progress and results of clients.  Same as OMD-D, we would have a Readiness Test for OMD-C which aims to facilitate clients’ verification of the technical readiness of their feed handlers for receiving and processing OMD messages.  Clients are required to complete the test cases in the answer book and submit the test results of the answer after completion of the test.

Yes, you may find an independent software vendors (ISVs) to conduct testing on behalf of you.  Clients could also use software versions provided by ISVs which have already passed the Readiness Test. 

Line Arbitration: It is the quickest and most efficient means to recover from packet drops due to a single-point glitches on the dual network paths from OMD to the client’s servers. Line Arbitration is a mandatory requirement to all feed providing vendors.

Retransmission: It is the only means to recover lost trade messages as trades are not recoverable through Refresh. For packet loss beyond the protection of line arbitration, retransmission is also the quickest means to recover the lost data from OMD in sub-seconds compared with refresh. Retransmission is a mandatory requirement to all clients, except for End- User Licence clients.

Refresh: It is the service for the client to handle OMD’s DR, clients’ late connection to OMD and significant packet loss by clients. Refresh is a mandatory requirement to all clients.

One RTS ID with two unicast IP addresses will be assigned to each set of product feed.  If one set of SP and one set of SF are subscribed, clients will be assigned two RTS IDs with four unicast IP addresses.

Yes, clients can try to apply for more than one RTS ID in testing environment subject to our discretion.

The Broker number providing in the Broker Queue message (54) and Liquidity Provider message (13) is in integer format.  However, clients may also need to observe the Rules of the Exchange for the interpretation of broker numbers when disseminating or displaying the information to their downstream clients.

Yes, sharing of same pair of production SDNet/2 circuits by more than one OMD datafeed product of different markets (i.e. securities market datafeed and derivatives market datafeed) is allowed.  Clients who adopt the shared line mode should, however, make a thorough assessment of the possible operational risks and complexity in troubleshooting (latency, connectivity, etc) associated with line sharing. Troubleshooting support from us will be limited under line sharing given the increased complexity.

Clients can subscribe both OMD-C and OMD-D via the same pair of ports via HKEX Hosting Services (HSN).

Yes.  Exchange Participants who would like to share the same pair of SDNet/2 circuits with trading traffic (orders and trades) and market data traffic are only allowed to do so if all the traffic on the circuits belongs to the same market (i.e. either securities market or derivatives market). OMD-Index, which is market neutral, can be carried on the same pair of circuits with securities market or derivatives market.  For example, Exchange Participants of derivatives market may use the same pair of SDNet/2 circuits for their access to OMD-D DP, OMD-Index and HKATS Central Gateways.  Clients who plan to share SDNet/2 circuits should, however, make a thorough technical assessment of the possible operational risks and complexity in troubleshooting (latency, connectivity, etc.) associated with such an approach.  Troubleshooting support from us will be limited under such circuit sharing given the increased complexity.

Unlike SDNet/2, Clients can subscribe both trading traffic and market data traffic across different markets in the same pair of ports via HKEX Hosting Services (HSN).

No, SDNet/2 circuits cannot be shared between OMD-C testing environment and OMD-C production environment.

The sharing principle for testing environment would be the same as production environment.  Testing lines can be shared across OMD-C and OMD-D for testing purpose only.  Same pair of lines cannot be used for serving both production and testing at the same time.  Therefore, if clients reconfigured the OMD-C testing lines to production mode, they are required to install another set of testing lines for OMD-D .

No.  They use different VLANs.

No.  They use different subnets.

Clients are not allowed to lease the 2 SDNet lines for the same SDNet line-set from 2 different network carriers.  Since different network carriers may have different routing configurations and protocols, mixing different carriers’ SDNet lines in this way may not work.

Clients may not be required to cancel the two testing lines but consider requesting their network carrier to reconfigure the two testing lines to our production environment for Market Rehearsal and on-going production connection.

HKEX derivatives market data, including futures and options data, are not available in MMDH currently.  Subject to market demand, adding derivatives market data in MMDH may be considered in the future.

The physical length of the circuit would theoretically incur some latency difference but in practice it is not significant since the distance between client’s server and MMDH in Shanghai is relatively short as compared to the distance between MMDH in Shanghai and the OMD-C in Hong Kong.

This is dependent on the availability of high quality multicast network services by Mainland network carriers. We will continue reviewing the service offerings of Mainland carriers to see if the Mainland network infrastructure is suitable for multicast.

Binary message protocol will be used in OMD MMDH to allow optimal transmission efficiency.

Data content in OMD Securities Standard, Index Feed, Odd lot order and Stock Connect Market Feed (SCM) will be the same as those product feeds offered in OMD-C. 

Please refers to Connectivity Guide in OMD-C Corner.

OMD Securities Premium (SP) and Securities FullTick (SF) datafeeds with higher bandwidth requirements are not available in MMDH currently. Subject to market demand, adding SP and SF may be considered in the future.

Existing information vendors will not be required to apply for a separate licence for using MMDH. Only Schedule 3 of their existing Market Data Vendor Licence Agreement will be updated to list out the product feeds subscribed from MMDH. Interested clients may contact our Data Licensing & Policy Team by emailing to MarketData@hkex.com.hk.

Same as OMD-C, only real-time datafeed products are offered in MMDH.  Any clients who would connect to our MMDH will be subject to the same licensing arrangement and fees as real-time IV licensee. Please refer to our website for the Licence application forms and procedures.

Vendors who wish to redistribute the indexes available in the Index Feed need to get the corresponding licence from the index compilers directly, except for the (i) S&P/HKEX indices; and (ii) prescribed Redistributable Indices supplied by China Securities Index Company Limited which are already covered in the Market Data Vendor Licence Agreement.

Clients who retain production connection of Securities Standard (SS) to both OMD -C and MMDH will just need to pay Redistribution Fee once for the right to redistribute the SS data and One-off Connection Fee once. However, they need to pay the respective Connection Fee for connection to OMD-C and the Connection Fee for connection to MMDH, in addition to the Subscriber Fees.  Please refer to OMD Fee Schedule at HKEX website for details.

A company who would like to redistribute HKEX securities and index data by receiving SS and index feed from MMDH will be liable to pay the following license fees:

Recurring Fees                                        Amount (HK$)

Redistribution Fee                                     $51,000 per quarter

Connection Fee for MMDH (first set)           $45,000 per quarter x 2

Subscriber Fee                                          subject to a minimum subscriber fee of $6,000 per month

Total:                                                      $636,000 per annum (minimum)

One-off Fees

One-off connection fee                               $10,000

Index Feed is complimentary to SS for the time being.  We reserve the right to impose charge on Index Feed in future.  Clients who wish to redistribute the indexes may need to get the corresponding licence from the index compiler directly.

The connection fee for the additional live connection will be aligned to the OMD-C. A company is liable to pay the following licence fees:

Recurring Fees                                          Amount (HK$)

Redistribution Fee                                     $51,000 per quarter

Connection Fee for MMDH (first set)           $45,000 per quarter x 2

Connection Fee for MMDH (additional set)  $70,000 per quarter

Subscriber Fee                                          subject to a minimum subscriber fee of $6,000 per month

Total:                                                        $916,000 per annum (minimum)

One-off Fees

One-off connection fee                               $10,000

Please refer to OMD Fee Schedule at HKEX website for details.

You are only required to participate in MMDH’s Certification Test but not OMD-C’s tests.

Clients may not be required to cancel the two testing lines, but consider requesting their telecom to reconfigure the two testing lines to our production environment for Market Rehearsal and on-going production connection.

The MMDH simulator can run on Linux only.  However, the client’s feed handler can either run on the same or a different machine as the MMDH simulator, providing clients the flexibility to develop their feed handlers on a non-Linux platform.

The Broker number providing in the Broker Queue message (54) and Liquidity Provider message (13) is in integer format.  However, clients may also need to observe the Rules of the Exchange for the interpretation of broker numbers when disseminating or displaying the information to their downstream clients.

The chance of data recovery is limited. Same as OMD-C, only latest market snapshot will be available from Refresh service. The recovery of latest market snapshot by Refresh Service is documented in Section 4.2 of OMD-C MMDH Interface Specification.

Standard and Non-Standard Configuration is different in terms of minimum number of lines required for connection to MMDH. 

Standard configuration: A standard configuration will include single live connection. Minimum 3 lines will be required, two connected to the OMD MMDH primary site and one connected to OMD MMDH secondary site.

Non-standard configuration: An additional live connection added to the standard service will cover two live connections to each site. In this configuration, 4 lines will be required, i.e. two connected to the OMD MMDH primary site and two connected to the OMD MMDH secondary site.  Information Vendors can adopt this configuration to receive production data transmitted from both links concurrently at OMD MMDH production system.

No, SDNet/2 will be used only for OMD data transmission in Hong Kong central site but will not be used in Mainland Market Data Hub.  Clients who connect via MMDH should subscribe the Ethernet Connections between your own server and OMD MMDH.

It is not compulsory for Exchange Participants to receive market data from OMD.  Exchange Participants may choose to receive market data directly from OMD or indirectly via information vendors.

HKEX derivatives market data, including futures and options data, are not available in MMDH currently.  Subject to market demand, adding derivatives market data in MMDH may be considered in the future.

In order to achieve matching efficiency and optimal performance of the trading system, the capacity of the trading system will be dedicated to the functions of matching engine whereas market data systems will take up the functions of market data distribution and this enables the Exchange to develop a wide range of market data feed products to meet the diversified needs of the market participants.  EPs are hence advised to receive market data from OMD. 

Single product feed will limit the development of low latency feed as huge data volume may increase the bandwidth requirement and hence social cost to the market.  Different product feeds will offer choice to the customers on market data latency, content as well as bandwidth requirements.

FullTick feed is positioned to provide low latency data to the customers for building their order books.  Only the core market data, i.e. orders and trades, will be carried to guarantee the performance of the feed.  Clients who would like to receive the official statistics may wish to subscribe to Lite, Standard or Premium feed.

It is a prudent approach of not disseminating the individual order information during the auction session to avoid any possible market manipulation during the price discovery process.

OMD Derivatives FullTick is positioned as a market-by-order feed providing individual orders and trade information only.  Aggregate market depth (or market by price) information on conflation mode will be carried by OMD Derivatives Standard (DS) and Derivatives Lite (D-Lite).  Should clients wish to obtain market by price information on a streaming basis, they may consider subscribing to OMD Derivatives Premium (DP).

Please refer to Appendix A of OMD Interface Specifications for Securities Market & Index Datafeed Products to have complete indices list of OMD Index Feed.

OMD does not support recovery of all trade tickers for a given trading day.  Client can however receive the latest market snapshot from the refresh server which facilitates intraday startup or customer side outages.  For the interest of those customers who may wish to recover every tick for a given trading day, the corresponding end of day trade data product is available for customer subscription or purchase on an as-needed basis.

Both the minimum tick size and contract size are static information which is defined in the contract specifications from day one and unlikely to change in the life of the contracts.  However, OMD-D provides the contract size information in view of the arrangement for capital actions where the contract size may be adjusted together with the strike price.  Other static information such as the minimum tick size is not available in the OMD-D at present. Clients may wish to refer to the contract specification of each derivatives product on HKEX website for such information.

Clients could only receive data of the market which their program subscribes to since the host IPs for SOM and Non-SOM are different.

If the data is only for internal use, clients should apply End-user Licence.  Market Data Vendor Licence should be applied instead if clients would like to redistribute the data to their customers.  Different licence fees and connection fees are applied to different OMD-D datafeed product and usage purpose.  Clients can visit HKEX website for details on the charges for the OMD-D datafeeds.

Any data with individual order information will be subject to the Subscriber Fee/Individual User Fee of Continuous Access - Full Book, i.e. $300 per unit per month.

If information vendors/licensed end-users subscribe to more than one OMD datafeed products, e.g. DS and DP, the Redistribution Fee/End-User Licence Fee and Connection Fee for the first connection of both of these feeds are payable.  If information vendors/licensed end-users subscribe to more than one set of the same OMD datafeed product, e.g. 2 sets of DP, the following fees will apply:

i. One Redistribution Fee/End-User Licence Fee of DP

ii. One Connection Fee for the first set of standard connection of DP; and

iii. One Connection Fee for an additional set of standard connection of DP.

Yes, information vendor who subscribes DF can provide level 2 data services with applicable fees, e.g. HK$75 per subscriber unit per month, subject to it being 10BBO and without individual order information.

Vendors who wish to redistribute the indexes available in the Index Feed need to get the corresponding licence from the index compilers directly, except for the (i) S&P/HKEX indices; and (ii) prescribed Redistributable Indices supplied by China Securities Index Company Limited which are already covered in the Market Data Vendor Licence Agreement.

One set of OMD standard connection service will include two physical SDNet lines or HSN ports carrying two concurrent multicast data streams.  Clients will only be subject to one set of connection fee if they only subscribe to one set of standard connection service.

A waiver will be offered on the End-User Licence Fee and Connection Fee for first 2 sets standard connection of OMD Derivatives Standard feed for each EP for internal use only and enter into End-User Licence Agreement with us.

In addition, D-Lite EP information vendors who are paying the flat monthly fee of HK$2,000 could also enjoy waiver on Redistribution Fee and Connection Fee for first 2 sets standard connection of OMD Derivatives Standard feed should they wish to provide deeper depth service to their trading clients only.

Yes, additional retransmission Username can be assigned subject to additional set of connection fee.

Due to the multicast nature, we are not able to monitor the test progress and results of clients.  Same as OMD-C, we would have a Readiness Test for OMD-D which aims to facilitate clients’ verification of the technical readiness of their feed handlers for receiving and processing OMD messages.  Clients are required to complete the test cases in the answer book and submit the test results of the answer after completion of the test.

The OMD simulator can run on Linux only.  However, the client’s feed handler can either run on the same or a different machine as the OMD simulator, providing clients the flexibility to develop their feed handlers on a non-Linux platform.

In the OMD-D RT Environment, only canned data is used for conducting OMD-D Readiness Test.  OMD-D HKATS Test Environment is same as the HKATS OAPI Development Environment with OMD-D available to enable OMD-D EPs clients to perform loop test with the HKATS, the HKEX Derivatives Market Trading System.

Yes, you may find an independent software vendors (ISVs) to conduct testing on behalf of you.  Clients could also use software versions provided by ISVs which have already passed the Readiness Test. 

However, please note that this test service only applies to testing in the Readiness Test.  The client has to participate in Market Rehearsal (MR) and Post-Release Test (PRT) itself with its own circuits for connection before it can receive live production market data.

No. Readiness Test will be performed by ISV but MR and PRT will need to be performed by your company being the Market Data Licensee having direct OMD-D connection.

Yes, clients can try to apply for more than one retransmission Username in testing environment subject to our discretion.

OMD-D is a different system from HKATS OAPI.  Please refer to Section 3.7 of OMD-D Interface Specification (available at OMD-D Corner at HKEX website) for the reference data arrangement. OrderBookID is used as the unique identifier for the tradable series, except that it is not available for next day effective series.  The Series Definition Base (303) and Series Definition Extended (304) messages carry the OrderBookID and the symbol name.  Clients can make reference to those fields.

Trade Statistics (360) is provided in Derivatives Standard (DS) and Derivatives Lite (D-Lite) while Series Statistics (363) is provided in Derivatives Premium (DP). The content of both messages are the same except Trade Statistics (360) carries DealSource and AggregateQuantity of the latest deal (which can comprise multiple trades). Alternatively, DP provides information on individual trades, instead of after their consolidation into deals, with Trade (350) and Trade Amendment (356) messages which are separate from the Series Statistics (363).

DS and D-Lite are positioned to carry trade information at deal level (or trade ticker level) which contains the aggregated quantity and the Deal Source (e.g. normal matching) of the latest deal (which can comprise multiple trades) from the trading system.

DP and DF are positioned to provide individual trade information with Trade (350) and Trade Amendment (356) messages which however cannot be mapped with the Deal Source and therefore Deal Source information is not provided via DP and DF.

Line Arbitration: It is the quickest and most efficient means to recover from packet drops due to a single-point glitches on the dual network paths from OMD to the client’s servers. Line Arbitration is a mandatory requirement to all feed providing vendors.

Retransmission: It is the only means to recover lost trade messages as trades are not recoverable through Refresh. For packet loss beyond the protection of line arbitration, retransmission is also the quickest means to recover the lost data from OMD in sub-seconds compared with refresh. Retransmission is a mandatory requirement to all clients, except for End- User Licence clients.

Refresh: It is the service for the client to handle OMD’s DR, clients’ late connection to OMD and significant packet loss by clients. Refresh is a mandatory requirement to all clients

There is no limitation on the number of Logon requests per day but there are limitations on (1) number of retransmission requests in a day; and (2) maximum sequence range requested.  The number of concurrent sessions to a Retransmission server is also restricted to one for each Username. In other words, each Username cannot perform more than one concurrent retransmission session at the same time.  Please refer to the Interface Specifications for the different parameters applicable to retransmission service.

One RTS ID with two unicast IP addresses will be assigned to each set of product feed.  If one set of DP and one set of DF are subscribed, clients will be assigned two RTS IDs with four unicast IP addresses.

Yes, sharing of same pair of production SDNet/2 circuits by more than one OMD datafeed product of different markets (i.e. securities market datafeed and derivatives market datafeed) is allowed.  Clients who adopt the shared line mode should, however, make a thorough assessment of the possible operational risks and complexity in troubleshooting (latency, connectivity, etc) associated with line sharing. Troubleshooting support from us will be limited under line sharing given the increased complexity.

Clients can subscribe both OMD-C and OMD-D  in the same pair of ports via HKEX Hosting Services (HSN).

Yes.  Exchange Participants who would like to share the same pair of SDNet/2 circuits with trading traffic (orders and trades) and market data traffic are only allowed to do so if all the traffic on the circuits belongs to the same market (i.e. either securities market or derivatives market). OMD-Index, which is market neutral, can be carried on the same pair of circuits with securities market or derivatives market.  For example, Exchange Participants of derivatives market may use the same pair of SDNet/2 circuits for their access to OMD-D DP, OMD-Index and HKATS Central Gateways.  Clients who plan to share SDNet/2 circuits should, however, make a thorough technical assessment of the possible operational risks and complexity in troubleshooting (latency, connectivity, etc.) associated with such an approach.  Troubleshooting support from us will be limited under such circuit sharing given the increased complexity.

Unlike SDNet/2, Clients can subscribe both trading traffic and market data traffic across different markets  in the same pair of ports via HKEX Hosting Services (HSN).

No, SDNet/2 circuits cannot be shared between OMD-D testing environment and OMD-D production environment.

The sharing principle for testing environment would be the same as production environment.  Testing lines can be shared across OMD-C and OMD-D for testing purpose only.  Same pair of lines cannot be used for serving both production and testing at the same time.  Therefore, if clients reconfigured the OMD-C testing lines to production mode, they are required to install another set of testing lines for OMD-D .

No.  They use different VLANs.

Clients are not allowed to lease the 2 SDNet lines for the same SDNet connection from 2 different network carriers.  Since different network carriers may have different routing configurations and protocols, mixing different carriers’ SDNet lines in this way may not work.

No.  They use different subnets.

Clients may not be required to cancel the two testing lines but consider requesting their network carrier to reconfigure the two testing lines to our production environment for Market Rehearsal and on-going production connection.

In our context the Test Service refers to the provision of connection to the test environment and related technical documents and testing facilities by HKEX-IS, which allows ISVs to conduct testing themselves. 

An ISV can perform testing on OMD-C and OMD-D datafeeds, subject to their business needs.

No, an ISV can only connect to the test environment.

As this Test Service is for testing on HKEX Orion Market Data Platform (OMD), an ISV can be a market data Information Vendor (IV), End User (EU); or a software company that makes and sells Market Data software to other clients.

EPs / IVs / EUs can benefit from having an option to either (i) conduct testing in test environment by themselves; or (ii) directly using software versions developed by ISVs without conducting testing which could save EPs / IVs / EUs’ costs, e.g. testing line fees and testing efforts.

No, the Test Service is just available on Trading Days.

This Test Service currently only covers testing on Market Data test environment.  If the ISV wants to serve EP clients for OCG / HKATS End-to-End Test, the EP clients have to contact HKEX – Trading Operations for testing arrangements.

Yes. The ISV can and should conduct testing of one or multiple Connection Set(s) with at least a pair of testing lines.   

For example, with a pair of testing lines the ISV can perform testing on two Connection Sets for Securities Market Data; or one Connection Set for Securities and two Connection Sets for Derivatives.

The ISV is required to subscribe testing connections with sufficient bandwidth to support the testing, and make connection arrangement with network carriers accordingly.

No, there is no difference except that ISV can support clients with its software versions that had completed Certification / Readiness Test.  The ISV needs to follow the same Test Procedure, and shares the same test environment as other enrolled clients.

The ISV should refer to the Connectivity Guide on HKEX website for the connection setup.  In particular, the ISV can connect to OMD environment via SDNet/2 or HKEX Hosting Services Testing Network (HSTN).  Two lines of either SDNet/2 or HSTN are required.

The ISV should also estimate its bandwidth required to support the testing for itself and for its clients, and make connection arrangement with network carriers accordingly. 

The ISV can make arrangement with the two Accredited Vendors – HKT, and HKBN Enterprise Solution – for SDNet2 setup; or with HKEX Hosting Services for HSTN set-up.

No.  The Test Service only applies to testing in the test environment, i.e. Certification / Readiness test. 

For other testing arrangement, e.g. Market Rehearsal (MR) and Post Release Test (PRT), the client has to participate in the test by itself with its own production connections .

If the ISV subscribes for a Connection Set for Securities Market Data, it can test on all Securities datafeeds including SS, SP, SF and complimentary feeds.  Similarly if the ISV subscribes for a Connection Set for Derivatives Market Data, it can test on all Derivatives datafeeds including D-Lite, DS, DP, DF and complimentary feeds.

The ISV is required to subscribe testing connections with sufficient bandwidth to support the testing, and make connection arrangement with network carriers accordingly.

One Connection Set comprises one Retransmission Username (RTS ID) per subscribed OMD datafeed product (excluding complimentary feeds). As long as the bandwidth of the testing line is sufficient enough to support subscribed OMD datafeed products, a pair of testing lines can support multiple Connection Set.

For example, with one Connection Set for Securities market data, the ISV can get a maximum of three RTS IDs by subscribing for SS, SP and SF in OMD-C . On the other hand, with one Connection Set for Derivatives market data, a maximum of four RTS IDs could be obtained by subscribing for D-Lite, DS, DP and DF in OMD-D.

Test Charges are calculated per Connection Set.  To request for additional RTS IDs, the ISV would be charged on the additional Connection Set of Test Service. 

For the purpose of illustration, suppose an ISV subscribes for Securities Market Data Test Service:

The ISV needs to submit HKEX-IS the same form as other enrolled clients.  In addition, the ISV needs to submit a separate Declaration Form for Software Versions, which includes details of the software names and versions.  HKEX-IS would publish the related information on HKEX website.

Yes. The ISV shall provide HKEX-IS the list of clients using those software versions through the excel template Client Report under Test Service.  The ISV shall also update HKEX-IS upon any change to the client list with 2 weeks’ advance notice.

The fee rates are based on a cost-recovery basis on administrative work and vendor support service provided by HKEX-IS.  In addition, approximately 30% discount is given to monthly booking of Test Service.

Not necessarily.  The one-off registration fees apply to Securities and Derivatives Market Data separately.  For example, a new applicant subscribing for testing of both Securities and Derivatives Market Data should pay two sets of one-off registration fees, i.e. $20,000.

If the ISV is an existing HKEX licensed IV/EU or a Related Company of an existing HKEX licensed IV/EU as specified on Schedule 2 of Licence Agreement, the One-off Registration Fees will be waived; and the Test Charges will be subject to the prevailing HKEX-IS test charges policy.

For any incomplete month, fees will be charged on the daily rate or monthly rate, whichever is lower. Therefore, for Test Service for more than 14 trading days, the monthly rate would be payable so that ISVs can choose to test for the whole month.

If the ISV is late in paying any sums due to HKEX-IS by more than 30 days, HKEX-IS can terminate its Test Service immediately without notice. 

Also, both parties can without stating a reason terminate the Test Service by giving no less than 30 days' prior notice of termination in writing to the other party. Test Charges for the first 3 calendar months are non-refundable.

It should be noted that the status of ISV is terminated once the Test Service is terminated for whatever reason.

If a terminated ISV wants to subscribe for the Test Service again, the 3 months’ minimum subscription period and/or the One-off Registration Fees might still apply at HKEX-IS' discretion.

If reconnection or reactivation of the Test Service is only for HKEX-IS initiatives for which HKEX-IS requests/encourages clients to ascertain their readiness via end-to-end test, (i) the One-off Registration Fees ($10,000) and (ii) 3-month minimum subscription period would not apply to ISVs reconnecting after termination – subject to the final decision of HKEX-IS.

Subsequent to any ISV software that passes the Certification / Readiness Test, the ISV should update HKEX-IS on the software names and version by completing the Declaration Form for Software Versions.  

HKEX-IS will publish the related information on HKEX website.

HKEX-IS only provides Test Service to ISVs to enable them to verify the capability of their software of handling data transmitted from HKEX’s market data platforms. The successful completion of the Certification / Readiness Test by a software version should not be regarded as any form of co-operation with, or endorsement or authorization by HKEX-IS.  HKEX-IS does not guarantee the relevant software’s quality, reliability and suitability for their clients’ needs.

No.  Instead of the Declaration Form on the Test Procedures, the client should fill out a separate Declaration Form for Readiness (Using Independent Software Vendor’s Software).

Yes. The client needs to update HKEX-IS (HKEX-IS@hkex.com.hk) with 2 weeks’ advance notice if there is any change in the production connection, using ISV’s software version or change in using different ISV.