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New End-User Application Procedure

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

End User Licence Application Procedure on HKEx web SL v4 vl al2_ChartOnlyCopy 

Notes:

1.

The following application forms (“Relevant Application Forms”) should be submitted by different applicants:

- For SEHK and/or HKFE Participants: Application Form for Market Data End-User Licence, Form E3 and Declaration Form for Self-Developed Application on Readiness Test Arrangement; OR

- For other applicants: Form E1, Form E2, Form E3 and Declaration Form for Self-Developed Application on Readiness Test Arrangement.

 

Note for paid-up capital requirement:

Applicants that are not a SEHK/HKFE Participant must have a paid-up capital (fully paid in cash) of no less than HK$ 5 million. 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, applicant has to pay one extra quarter upfront payment on the Licence Fees on top of the normal billing cycle and arrangement.

 

2.

An application is deemed to have been formally lodged with HKEX-IS when the applicant formally submitted the Relevant Application Forms. A letter of acknowledgement (“Letter E1”) of the submission of the Relevant Application Forms will be issued.

3.

After the Relevant Application Forms 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 (Not applicable to OCG /CG EPs with OMD SS/DS fee waiver, nor OMD Free Trial Programme applicant). Upon receipt of Letter F1, the applicant is required to:

i)

Pay the One-off Connection Fee for the real-time Datafeed(s), if applicable;

ii)

Pay one extra quarter upfront payment on the Licence Fees on top of the normal billing cycle and arrangement, if applicable. Please refer to Note for paid-up capital requirement of Note 1 above.

For the avoidance of doubt, if applicant commences the datafeed in the mid of a quarter, the applicant has to pay one extra quarter upfront payment on the Licence Fees on top of its normal billing which will be pro-rated on a monthly basis of that current quarter plus the following complete quarter.  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 Fees on top of the normal billing cycle and arrangement is required to be settled before the end of the Free Trial Period if the applicant intend to continue the subscription; and

iii)

Arrange with network carrier or hosting team for line installation respectively. Please refer to On-boarding procedure and Checklist for details.

 

The applicant has to provide all information required under the Relevant Application Forms and to pay the One-off Connection Fee and upfront payment (if any) required normally (i) within a period of 2 months from the date of Letter E1 or (ii) before commencement of OMD Readiness Test or (iii) before the agreed Datafeed Commencement Date, whichever is earlier.  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 in2 weeks.

Please note that the One-off Connection Fee is non-refundable.

4.

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 within2 monthsfrom the issuance of the Provisional Approval Letter. Extension of the Readiness / Certification Test 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 Readiness / Certification Test.

5.

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


 


Updated 03 Jun 2019

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