Warsaw Stock Exchange Market Data License Agreement

You want to receive euronext market data in real time via a data stream from a redistributor (for example. B data providers) and use them exclusively for your own (internal) purposes. Real-time data used in auto-trading applications or other non-display applications used in risk management, quantitative analysis, fund management, portfolio management and investment signal generation, and that support the placement of non-automatic commands. Deferred data received under an agreement with GPW can only be distributed to customers if it is labelled as coming from GPW. The status of the authorized data provider offers a number of other marketing benefits, including the publication of the company`s name on the GPW website in the Data Provider section and in GPW`s publications and promotional materials. Delayed data is 15 minutes behind real-time data flow. WSE calculates the distributor`s real time (calculated in hours) when his client is connected to the database and has access to market data in real time. EMDA is Euronext`s main market licensing agreement. Market data subscriptions, for example, in the table below can help you choose the right subscriptions for your business requirements. In this case, the data distributor pays only an annual fee and can then distribute late data to unlimited subscribers and disseminate it on its publicly accessible websites. The annual fee is charged immediately after the signing of the Market Data License Agreement.

Its quantity depends on how WSE data is received, the range of information and usage. This data is delayed by 15 minutes compared to real-time data. A wide range of market data, tailored to the needs of different companies, allows access to different financial instruments listed: market data and subscription fees for research products are evaluated from the day of the subscription and the first working day of each following month, as long as the services are active. Subscription fees are assessed based on the number of users who have subscribed to the service for an account. If multiple users are subscribed, several fees are charged for the account. There is an additional charge for instant data requests (see below). With regard to declared royalties for market data, IBKR will retain between 5% and 10% of these charges in order to cover administrative and other costs related to the provision of these data services. The rest of the tax is paid to the seller. Please note that if you use deferred market data only for internal (non-commercial) purposes, you are not required to enter into a licensing agreement with Euronext. If you want to obtain, use and/or redistribute real-time and/or deferred market data, you may need to enter into a market data licensing agreement with Euronext.

DWS Polska Towarzystwo Funduszy Inwestycyjnych S.A. (currently Investors), in collaboration with the Warsaw Stock Exchange, began calculating and publishing the DWS MS (DWS Small and Mid-Caps) stock index on 31 March 2003. The index was renamed Investor MS on March 14, 2011. The index represents the performance of small and mid-sized equities in the focus of the Investor Top 25 Ma`ych Spéek FIO fund (formerly DWS Polska TOP 25 Ma`ych Spéek). A wide range of data includes the main market of WSE, NewConnect, Catalyst, Treasury BondSpot, Polish Power Exchange and GPW Benchmark. A distributor may receive data directly from WSE or as a sub-tributeer connected by another WSE distributor (WSE does not help this collaboration, but its terms must be in accordance with the market data licensing agreement that each data dealer signs with WSE). The IS SYSTEM market data offering is tailored to the requirements of different companies that use data for display or non-display purposes, such as data providers. B, companies that use data for automated trading, risk management, quantitative analysis, fund management, portfolio management and other financial market participants.