Vendors (distributors or data providers) are official contractual data providers of the BSE who have obtained the right, by signing the BSE Information Distribution Agreement (the so-called vendor agreement) to transmit real-time, delayed, and end-of-day stock exchange trading data of the BSE to end-users: institutional and private investors, analysts and the representatives of the media.

Who can become a vendor? 

A data provider who has accepted the BSE vendor agreement by signing it.

Who is a subvendor? 

A data provider who has concluded an agreement with the BSE, technically taking the data from a contractual vendor of the BSE instead of a direct connection to the BSE technical system.

What are the fees payable by the vendors? 

For the use and redistribution of BSE trading data, vendors shall pay different fees, set in a uniform manner: an annual licence fee, an annual technical connection fee and monthly variable fees.

Where can I find a list of the vendors? 

BSE updates the list of contracted vendors and their contact data on its website.

Who are the end-users? 

Natural and legal persons who have signed a subscriber agreement with vendors in respect of real-time BSE data. End-users can use the data only for their own purposes and cannot transfer these to a third party. An end-user may be a professional or an individual investor.

How can I access real-time trading data, and can I purchase it directly from the BSE? 

You can receive real-time trading data only from BSE vendors and subvendors, after you have signed a subscriber agreement to access BSE data with that vendor.

How can I use the data received? 

You can use the information exclusively for your own benefit, for the management of your personal investments, but not for business purposes or for consulting provided for other persons, and you cannot transmit it to third parties in any form.

How much shall I pay for the data?

BSE applies very favourable fees for individual investors who wish to have access to real-time BSE data exclusively in order to manage their own investments.

The final price of data products offered by the vendors, however, depends on many other factors as well, such as data content and the scope of additional services (e.g. charting facilities, portfolio calculator, data of other stock markets etc.). Therefore, please contact the BSE vendors directly regarding the details of their services and the terms and fees of use.

How can I access real-time trading data, can I buy this directly from the BSE? 

You can receive real-time trading data only from BSE vendors and subvendors, after you have signed a subscriber agreement to access BSE data with that vendor.

How can I use the data received? 

You can use the data received not only for the management of your own investments, but also for business purposes, for investment advice provided to other persons. However, you cannot transmit the trading data itself to any third parties.

How much shall I pay for the data?

Vendors pay to the BSE monthly variable fees for each end-user to whom they provide access to real-time BSE data, or for each device on which such data is displayed.

The final price of data products offered by the vendors, however, depends on many other factors as well, such as data content and the scope of additional services (e.g. charting facilities, portfolio calculator, data of other stock markets etc.). Therefore, please contact the BSE vendors directly regarding the details of their services and the terms and fees of use.

What are "real-time data" services? 

Market players who have subscribed for real-time data services are informed about transactions and orders on the market in real time, usually within a few seconds.

What does "delayed data" mean? 

Delayed data service transmits data on transactions executed on the BSE and orders entered with a time lag of at least 15 minutes. Quotes and other data displayed on the BSE website are also delayed by 15 minutes.

How can BSE trading data be displayed on websites? 

Investors can find delayed and end-of-day data, as well as real-time index values on websites, even free of charge, without access limitation. These data are provided for the websites through vendors.

What should I do if I wish to transfer BSE trading data to third parties? 

You have to sign a vendor agreement for BSE data, which you may access either as a direct vendor, from the BSE, or as a subvendor, through another vendor. The BSE website offers detailed information on the relevant business, legal and technical issues.

How can I have access to older (historical) trading data? 

A wide range of historical trading data can be downloaded free of charge from the BSE website, where the Exchange also publishes statistics and analyses on the development of the market.

Data series for longer periods or in more detail can be obtained from the information center, which make the respective queries and provide the data to interested parties for a fee.

What does "reference data" mean? 

Reference data provide background information on products traded on the exchange market. The BSE provides investors with a wide range of reference data, including:

• data used for product identification: ISIN, ticker code, product name, product type;
• date of product listing and expiry, maturity, first and last trading days;
• face value, listed quantity;
• yield information, interest rate, size and date of dividend payments, redemption of the principal;
• information on the issuer.

What is MiFID? 

The European Union (EU) has set the objective of making the market of financial instruments uniform and transparent, and of ensuring fair market behaviour of investment service providers (banks and brokerage firms) by supervision. In order to realise these objectives, Directive 2004/39/EC, MiFID was issued.

The most important guidelines in MiFID are:

• Best execution: orders shall always be executed on the market where, on the whole, this is the most advantageous for the client.
• Transparency: trading companies shall comply with transparency requirements prior to and after trading.
• Disclosure, reporting: information on transactions made on the over-the-counter (OTC) markets shall be published by all financial service providers and shall be reported to the supervisory authority operating in its domestic market.