End-users

	OMD(a)
Per Quarter	Securities Standard (SS)	Securities Premium (SP)	Securities FullTick (SF)
1. Licence Fee
1.1 End-User	$33,300	$43,200	$64,800
1.2 End-User (Market Maker) Licence Fee(7)	$15,000	$19,500	$29,100
2. Connection Fee
2.1 Direct Connection
− First set of standard connection	$45,000	$58,500	$87,600
− Additional set of standard connection	$70,000	$91,000	$136,500
3. Mainland Market Data Hub	Double the Connection Fee
4. One-off Connection Fee	$10,000	$10,000	$10,000

	OMD
Per Month	Securities Standard (SS)	Securities Premium (SP)	Securities FullTick (SF)
5. Real-time Data Service Individual User Fees
5.1 Continuous Access Service (Streaming)
- Level 1 (Top price level)	$120
- Level 2 (up to 10 price levels, broker queue)	$200
- Level 2+One (up to 10 price levels + One, broker queue)	N/A	N/A	$240
- Full Book (All order information, broker queue)	N/A	N/A	$400
5.2 Per Quote Service
- Per Quote Access 1 (Top price level)	$0.05 per quote (capped at $250 per subscriber)
- Per Quote Access 2 (up to 10 price levels)	$0.07 per quote (capped at $250 per subscriber)
- Per Quote Access 3 (up to 10 price levels, broker queue)	$0.1 per quote (capped at $250 per subscriber)
- Per Quote Access 4 (above 10 price levels, broker queue)	N/A	N/A	$0.14 per quote (capped at $450 per subscriber)
5.3 Charge Per Unit Time Service
- Up to 10 price levels, broker queue	$0.1 per minute (min. at $50/capped at $250)
- Above 10 price levels, broker queue	N/A	N/A	$0.14 per minute (min. at $70/capped at $450)
5.4 Non-Display Usage(b)
	Automated Trading Applications – $20,000 per firm per month Derived Data with Tradable Products – $20,000 per firm per month Others - $400 per firm per month

	OMD
Per Month	Derivatives Lite (D-Lite)
Licence Fee	$2,000 (Including End-User Licence Fee, Connection Fee and Individual User Fees)

(a)  The following complimentary datafeeds will be offered to clients subscribing the OMD Securities Market datafeed(s):

(Please note that standalone subscription of the complimentary feeds is not allowed. HKEX reserves the right to charge for these datafeeds in future with advance notice to clients.)

(b)  Non-Display Usage Fees effective in January 2013.

(c)   The following complimentary datafeeds will be offered to clients subscribing the OMD Derivatives Market datafeed(s):

• Derivatives Trades – offer to DS and D-Lite clients;
• Index Feed – offer to DS, DP, DF and D-Lite clients; and
• Order Feed – offer to D-Lite clients.

(Please note that standalone subscription of the complimentary feeds is not allowed. HKEX reserves the right to charge for these datafeeds in future with advance notice to clients.)

Remarks:

(1) Waived for information vendor with direct connection. 

(2) Fee also includes first indirect connection data source.

(3) Subject to a minimum monthly Subscriber Fee of $6,000

(4) Non-Display Usage includes:

i) Automated Trading Application - Any application that accesses HKEX real-time market data for automatic calculation, processing and analysis, and that application will determine the quantity, price and timing of order execution, will be regarded as the Automated Trading Application.

ii) Derived Data (with Tradable Products) - Any work created using HKEX real-time market data to partly or wholly derive the price of a tradable product or value of the underlying instrument of a tradable product.

iii) Others - Any other non-display data usage that does not fall under Category (i) & (ii) and EPs are exempted from this “Others” fee.

(5) Subject to a minimum monthly Subscriber Fee of $2,250

(6) Liquidity Provider is required to apply for End-User Licence if it extends right under the Market Data End-User Licence Agreement to related companies (subject to prior approval from HKEX-IS).

(7) Market Maker is required to apply for End-User Licence if it extends right under the Market Data End-User Licence Agreement to related companies (subject to prior approval from HKEX-IS).

 

* For the avoidance of doubt, if the information vendor offers more than one BMP Services for Securities Market Data during any month (excluding BMP Third Party Website Service), only one Subscriber Fee of $80,000 (for Information Vendor only) or $160,000 (for Information Vendor and its related companies) shall be payable in relation to that month.  Further, if the information vendor offers more than one BMP Services for Derivatives Market Data during any month (excluding BMP Third Party Website Service), only one Subscriber Fee of $27,000 (for Information Vendor only) or $54,000 (for Information Vendor and its related companies) shall be payable in relation to that month.