Market Turnover
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Vendor Application Procedure (for Real-time data)

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

 

Notes:

  1. An application is deemed to have been formally lodged with HKEX-IS (China) when the applicant formally submitted Form A1m, Form A2m and Form A3m. A letter of acknowledgement (“Letter A1m”) of the submission of Form A1m, Form A2m and Form A3m will be issued. 

  2. After Form A1m, Form A2m and Form A3m are considered duly completed and at the preliminary assessment by HKEX-IS (China) that the applicant is fit for licence, HKEX-IS (China) will issue a confirmation letter (“Letter B1m”) to the applicant. Upon receipt of Letter B1m, the applicant is required to:

    i) Pay the One-Off Connection Fee (applicable to applicant that requires direct connection) for the real-time Datafeed(s) and send us the remittance notification;

    ii) Arrange with network carrier or hosting team for line installation respectively (applicable to applicant that requires direct connection). Please refer to On-boarding procedure and Checklist for details.

    The applicant has to provide all information required under Form A1m, Form A2m, Form A3m within a period of 4 months from the date of Letter A1m. HKEX-IS (China) 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; result of the application will normally be available in two weeks.

  3. The One-Off Connection Fee (s) is not refundable.

  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 market data systems, a Provisional Approval Letter will be issued and the approval will be conditional upon the applicant’s successful completion of the systems’ Readiness / Certification Test. The Readiness / Certification Test must be completed normally within 4 months from the issuance of the Provisional Approval Letter. Extension of the Readiness / Certification Test period may be considered and granted by HKEX-IS (China) 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 Readiness / Certification Test. 

  6. Upon receipt of Vendor Agreement, the applicant is required to pay deposit. 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.

  7. Datafeed Commencement Date: For applicant applying for indirect connection, the Datafeed Commencement Date must be within 6 months from the date of Letter A1m. For applicant applying for direct connection, the Datafeed Commencement Date must be within 10 months from the date of Letter A1m.