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Market Data FAQ

Billing

  1. How will the market data end user fee be split if a user routes through multiple brokers (FCMs)?

    Market data will be split per broker per product group based on the user entitlements that each broker has configured.

  2. Where can I view a sample invoice?

    View the sample invoice at:

    https://www.tradingtechnologies.com/Documents/User%20Documents/SampleInvoice.pdf.

    User may also access a sample of Market Data Detail

  3. How can I ensure that I have correct users and permissions set in TT User Setup?

    Customers are advised to audit all users and users’ permissions in TT User Setup.

    Customers should properly flag users as “inactive” in TT User Setup. For example, when a user leaves the company, he should be flagged as inactive.

    Customers should disable CME market data permissions for users that do not require access to CME.

    If you need assistance with TT User Setup configuration, please contact your TT Account Manager.

  4. If a user is added at the end of the month, will there be a market data charge for the full month?

    There will be no proration, or need to “add” or “cancel” users. If a user is enabled for any portion of the month, a charge for the full month may be incurred.

  5. I cannot use Google form to submit my market data billing contact.

    Please use the alternate form located at: https://www.tradingtechnologies.com/Documents/User%20Documents/Market_Data_Contacts.pdf

    Once completed, please submit to billing@tradingtechnologies.com

  6. Is market data taxable?

    Yes, CT = 1% flat sales tax, IL = Exempt, NJ = 7% sales tax, NY = Tax rate varies by jurisdiction, TX = Tax rate varies by jurisdiction at 80% of billed amount

Scope

  1. Which exchanges will TT report market data subscribers?

    Starting January 1, 2015 TT will only report market data subscribers to CME, and only in TT’s X_TRADER ASP solution. CME Globex, CBOT, COMEX, NYMEX, DME, CME Europe and Eris are the product groups that TT will report on.

  2. What about other exchanges?

    There is no change for other exchanges, except CME. Brokers (FCMs) are likely to considered re-distributors of market data for all exchanges in TTNET. For further details, refer to Market Data Users.

  3. What about single broker environment?

    The announced changes are only related to TT’s Multibroker solution. Brokers (FCMs) must work with all exchanges they connect to through TTNET to verify their potential status as re-distributors of market data. For further details, refer to Market Data Users.

  4. What is the approach for next-gen TT platform?

    Over time with the next-gen TT platform, we plan to serve as vendor of record for market data on every exchange where it is practical. We will take on the reporting, entitlement control, audit and invoicing responsibilities. We will be billed for customers’ market data use, and we will aggregate data fees across exchanges and rebill them to the customer.

Administration

  1. What version of TT User Setup client is required to support this change?

    Users must upgrade to TT User Setup Client Version 7.17.41 or higher.

  2. What if I do not upgrade TT User Setup client to 7.17.41 version?

    If TT User Setup client is not upgraded to 7.17.41, it will not be possible to configure grandfathered and netted program participant options. If you have any concerns about the TT User Setup client upgrades, contact your TAM.

Additional Items

  1. Simulation: If a user is only configured with a TT SIM login, will he get charged for market data?

    Sim-only users will still incur market data fees because they have access to real time data.s

  2. FIX Adapter: Does FIX Adapter user always get charged CME market data fees?

    No, FIX Adapter connectivity is fee liable only if FIX Adapter user has price connection enabled and subscribes for CME products.