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Market Data Policy - Operational, Reporting and Compliance Technical Specs
With SEM's trading technology, we can provide you FIX (Level 1 and level 2), Text-File Delayed and EOD for instrument, index and corporate file data [corporate announcements (CA), 1/4 issuer financials]. SEM's website infrastructure also provides secured cloud services for market participants to relay data feeds onto their websites.
In line with international practice, any form of distribution for all dissemination frequencies of Real-Time Level 1/2 and/or EOD by Data Distributors and Re-distributors (to receive SEM data and re-distribute it to Data Users), as a standard practice requires SEM's approval and licensing with SEM as Contracted Distributing Users. Whether as a SEM Data User, you receive SEM data direct from SEM or Contracted Distributing Users for Display-Use and/or Non-Display Use, you are governed by SEM's Market Data Policy. If in relation to a licensee, as a client to whom the licensee distributes SEM data which you wish to use for external Display distribution, or as an affiliate or subsidiary or client you wish to use SEM's data for Non-Display use, you must be licensed with SEM in the capacity of a Re-Distributor, and hence be subject as a Contracted User, to applicable Display and/or Non-Display fees.
The operational and compliance technical documents below (“Policy”) represent a statement of the MDP and govern the Usage, Redistribution, Display, Non-Display as well as Compliance and Reporting of Data (as defined) by Distributors, Redistributors, Clients (each Licensee, as defined) and all Data Users. Distributors and Redistributors as Contracted Distributing Users must ensure their Data Users accessing SEM’s Data are aware of and comply with SEM's MDP, including relevant charges, reporting requirements and usage restrictions. For market data subscription, contact your Contracted Distributing User or contact us on https://www.stockexchangeofmauritius.com/contact-us.
TERMS AND CONDITIONS
DATA APPLICATION FORM (DATA-FEED and AML-CFT)
Any approval given by the SEM for usage of Data is only for approved Data uses and Data types and as a licensee passes control of the Data to the Data User, by means of a Data-Feed, certain terms and conditions apply to both the Licensee and Data User.
(1) The Contracted Distributing User must notify the Data User to be directed to the Exchange’s webpage https://www.stockexchangeofmauritius.com/about-us/market-data-policy or is provided access to a copy of the Exchange’s Market Data Policy, before any Data Feed is made available to a proposed Data User.
(2) The Contracted Distributing User notifies the proposed Data User to be directed to the Exchange for any additional knowledge of the guidelines set out in Exchange’s Market Data Policy, including the key Data Application Form.
(3) If the SEM has reasonable grounds to believe that any Data User: a) is using any Data in an unauthorized way; b) distributes or otherwise uses any Data in a way which is contrary to the provisions of this Data Agreement, or if in relation to any such distribution or use, the Contracted Distributing User breaches any provision of this Data Agreement; c) is acting or failing to act in a way which is contrary to this Data Agreement; and/or d) is otherwise in breach of any data agreement between the SEM and such Data User, then, in addition to any investigations the SEM may carry out and if requested in writing by the SEM to do so, the Contracted Distributing User must: e) carry out investigations which the SEM reasonably requests, in relation to any act or failure to act by such Data User; and/or f) provide such assistance and within such period as the SEM reasonably requests to protect the SEM's rights in relation to the Data, including immediately ending the supply of or access to the relevant Data to such Data User.
In the Data Application Form, if applicable, the proposed Data User must clearly indicate which Data will be used and whether such Data will be used for Internal Display, External Display and/or Non-Display Usage (under 3-fold categorization namely, Usage Purpose, Derived Data Creation and Index Creation), and fill in requested AML-CFT grids.
DISPLAY USAGE DATA ANNUAL FEES
| EQUITY/DEBT DATA LEVELS | NOTES | ANNUAL FEES (USD) | BILLING FREQUENCY | |
|---|---|---|---|---|
| FIXED DISPLAY DATA USAGE ANNUAL LICENSE FEES FOR DISTRIBUTORS AND REDISTRIBUTORS |
Connection fees |
VPN (2 VPN Tunnels) |
9200 |
Quarterly |
| Real Time Data Level 1 |
Best bid/ask, volume, value, confirmed trade) - incl SEM Indices, Delayed/EOD Data Redistribution + Corporate Actions/Published a/cs |
15000 |
Quarterly |
|
| Real Time Data Level 2 |
Full Order Book - incl Level 1, SEM Indices and Delayed/EOD Data Redistribution + Corporate Actions/Published a/cs |
20000 |
Quarterly |
|
| Real Time Index Data |
SEM Indices |
5000 |
Quarterly |
|
| Delayed Data |
Level 1 (confirmed trade) includes EOD Data Redistribution + Corporate Actions/Published a/cs |
11000 |
Quarterly |
|
| Delayed Index Data |
SEM Indices |
2000 |
Quarterly |
|
| EOD Data |
EOD Data licence includes EOD Corporate Actions/Published a/cs |
9000 |
Quarterly |
|
| LISTED COMPANY LICENCE |
Delayed Equity/Index Data |
Push from SEM website servers |
4000 |
Annual |
| EOD Equity/Index Data |
Push from SEM website servers |
1000 |
Annual |
|
| XML Development |
XML development for SEM website Push Notification |
Contact SEM |
One-off |
REAL-TIME EQUITY/DEBT DISPLAY DATA USER MONTHLY FEES BY UNIT OF COUNT
| EQUITY AND DEBT DATA | MONTHLY VARIABLE FEE BY UNIT OF COUNT | BILLING FREQUENCY |
|---|---|---|
| Level 2 |
15 |
Quarterly |
| Level 1 |
11 |
Quarterly |
| SEM Indices |
3 |
Quarterly |
NON-DISPLAY USAGE PURPOSES LICENSE (APPLICABLE USE OF REAL-TIME DATA)
| ANNUAL FEES (USD) | |
|---|---|
| Per Non-Trading-Based Non-Display Usage Purpose, payable for real-time Data used Per Non-Trading-Based Non-Display Usage Purpose, Per market data source |
2000 |
| Per Trading-Based Non-Display Usage Purpose, payable for real-time Data used Per Trading-Based Non-Display Usage Purpose, Per market data source |
3000 |
| Global Enterprise License (Non-Trading-Based Non-Display Usage Purpose) - No reporting |
8000 |
| Global Enterprise License (Trading-Based Non-Display Usage Purpose) - No reporting |
12000 |
| Global Enterprise License(Trading-Based and Non-Trading Based Non-Display Usage Purpose) - No reporting |
20000 |
NON-DISPLAY USAGE DERIVED DATA CREATION LICENSE (APPLICABLE USE OF REAL-TIME, DELAYED OR EOD)
| ANNUAL FEES (USD) | |
|---|---|
| Derived Data Creation License |
9000 |
NON-DISPLAY USAGE INDEX CREATION LICENSE (APPLICABLE TO USE OF REAL-TIME, DELAYED OR EOD)
| ANNUAL FEES (USD) | |
|---|---|
| End-of-Day Index Creation License |
9000 |
| Level 1 Delayed Index Creation License |
17000 |
| Level 2 Index Creation License |
20000 |