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Tariffs for the Moscow Exchange Information Services

TARIFFS & FEES

(you may find all terms definitions in pdf-documents with Tariffs)

  1. Tariffs applicable for subscribers consuming the Moscow Exchange market data
    via an authorized access to the Exchange's proprietary web interfaces and databases

    (with no rights for further dissemination of the data)
    1. Real time streaming data
    2. Trading results (daily updates)
    3. Archive data
  2. Tariffs applicable for local (Russian) data distributors (data vendors)
    (with rights for further dissemination of the data)
    1. Real time streaming data (including orderbooks)
    2. Real time deal data (without orderbooks)
    3. Delayed (15 min.) streaming data for further public displaying/dissemination
    4. Trading results for further public displaying/dissemination
    5. Training data
  3. Tariffs applicable for foreign (non-Russian) data distributors (data vendors)
    (with rights for further dissemination of the data)
    1. Real time streaming data (including orderbooks)
    2. Real time deal data (without orderbooks)
    3. Delayed (15 min.) streaming data for further public displaying/dissemination
    4. Trading results for further public displaying/dissemination
    5. Training data
  4. Tariffs on providing the data to be used in Non-display systems and for creating Derived data
    1. Tariffs on providing the data to be used in Non-display systems
    2. Tariffs on providing the data to be used for creating Derived data
  5. Tariffs on providing the data from the "MOEX Board" system of indicative quotes, applicable for data distributors (data vendors)

 

I. Market Data Services for end-users (direct access to the Exchange datafeed)

1) Real Time Market Data

Information product Tariff
Residents
(in Rubles per month per Access Point)
Non-residents
(in US dollars per month per Access Point)
1. EQUITIES 3,100 100
2. BONDS 3,100 100
3. CURRENCIES 3,100 100
4. FUTURES & OPTIONS 2,100 70

Remarks:

  1. EQUITIES – trading in equities, fund units and depository receipts on the Moscow Exchange Group markets.
  2. BONDS –trading in bonds on the Moscow Exchange Group markets.
  3. CURRENCIES – trading in foreign currencies at the Moscow Exchange.
  4. FUTURES AND OPTIONS – trading in standard contracts at the Moscow Exchange.
  5. The Market Data provided to end-users is purposed for individual use, except using in Non-display systems (eg. algorithmic trading systems), and excluding systems for calculation of the Derived Data purposed for further public distribution). The end-users are not allowed to distribute the received Market Data without the written consent of the Exchange.
  6. The service of providing Real Time Market Data is rendered by an authorized (logon/password) access to the Exchange web-server.
  7. The minimum period of access (subscription) is 1 month. Access (subscription) periods shall be multiple of 1 month.
  8. The Tariffs are applied for the subscription periods lasting from 1 to 3 months. For the subscriptions lasting from 4 to 6 months a 5% discount is provided. For the subscriptions lasting from 7 to 12 months a 10% discount is provided.
  9. The Tariffs do not include VAT. VAT is charged in the cases stipulated in the legislation of the Russian Federation. In cases where the service recipient is not a resident of the Russian Federation, the tariff for the information service is not subject to VAT, provided that the recipient of the service presents the documents proving that the recipient of the service executes his business activity not on the territory of the Russian Federation.

2) End-of-Day History

Information product Tariff
Residents
(in Rubles per month per Access Point)
Non-residents
(in US dollars per month per Access Point)
1. Trading results (End-of-Day History) from all markets (trading floors) of the Moscow Exchange Group (daily updates being provided during the subscription period) 2,700 90
2. Trading results (End-of-Day History) from all markets (trading floors) of the Moscow Exchange Group (archives for the past periods prior to the start date of the subscription) 2,700 90

Remarks:

  1. The Market Data provided to end-users is purposed for individual use, except using in Non-display systems (eg. algorithmic trading systems), and excluding systems for calculation of the Derived Data purposed for further public distribution). The end-users are not allowed to distribute the received Market Data without the written consent of the Exchange.
  2. The service of providing End-of-Day History is rendered by an authorized (logon/password) access to the Exchange web-server.
  3. The services indicated herein include an additional option for the end users. The option implies receiving of notifications on updates of End-of-Day History (trading results historical data) ordered by an user on the Exchange's web-server.
  4. The services indicated herein include providing Trading Results (End-of-Day History) from the trading modes intended for qualified investors to registered users subscribed to the Trading Results (End-of-Day History).
  5. The services indicated herein include providing registers of transactions (anonymous, impersonal data on registered trades) concluded at trading sessions within the period of a user subscription, excluding transactions (trades) registered in the trading modes intended for qualified investors.
  6. The minimum period of access (subscription) is 1 month. Access (subscription) periods shall be multiple of 1 month.
  7. The Tariffs do not include VAT. VAT is charged in the cases stipulated in the legislation of the Russian Federation. In cases where the service recipient is not a resident of the Russian Federation, the tariff for the information service is not subject to VAT, provided that the recipient of the service presents the documents proving that the recipient of the service executes his business activity not on the territory of the Russian Federation

3) Archive data

Information product Tariff
Residents
(Rubles)
Non-residents
(US Dollars)
1. Provision of a written response to a request
comprising up to 10 information items (per a response
including a response containing no information items(*))
2,900 100
2. Provision of a written response to a request
comprising more than 10 items (per an information item)
290 10
The full order log:
  • All markets (over one month)
  • All markets (over one year)
  • One market (over one month)
  • One market (over one year)
  • One instrument (over one month)
  • One instrument (over one year)

 

45,000
450,000
15,000
150,000
4,500
45,000

 

1,500
15,000
500
5,000
150
1,500

The order log:
  • All markets (over one month)
  • All markets (over one year)
  • One market (over one month)
  • One market (over one year)
  • One instrument (over one month)
  • One instrument (over one year)

 

13,500
135,000
4,500
45,000
1,500
15,000

 

450
4,500
150
1,500
50
500

Remarks:

  1. (*) The information item shall mean a numeric value of a parameter describing the End-of-Day History (trading results historical data) (for example, price, volume, etc.)
  2. The Archive Data provided to end-users is purposed for individual use.  The end users shall refrain from disseminating the Archive Data received without the prior written approval of the Exchange.
  3. The order logs is provided in electronic format or by allowing an authorized access to the Exchange's FTP-server for downloading thereof.
  4. VAT is charged in the cases stipulated in the legislation of the Russian Federation.

 

II. Market Data services rendered to distributors acting in the Russian Federation

1) Real Time Market Data

Information product Tariffs
(Rubles)
1. Vendor license (a fixed part of vendor's monthly fee) 45,000
2. Per client fees (a variable part of vendor's monthly fee) Legal entities Individuals
per an Access point:
  1. EQUITIES
  2. BONDS
  3. CURRENCIES
  4. FUTURES & OPTIONS
  5. Markets of the Ukrainian Exchange
  6. Markets of the ETS
per a request:
  1. The Moscow Exchange by request (*)

 

2,600
2,600
2,600
1,800
750
450

 

0.30

 

300
300
300
300
300
300

 

0.30

Remarks:

  1. EQUITIES – trading in equities, fund units and depository receipts on the Moscow Exchange Group markets.
  2. BONDS –trading in bonds on the Moscow Exchange Group markets.
  3. CURRENCIES – trading in foreign currencies at the Moscow Exchange.
  4. FUTURES AND OPTIONS – trading in standard contracts at the Moscow Exchange.
  5. Markets of the Ukrainian Exchange – trading on all the Ukrainian Exchange markets (Ukraine).
  6. Markets of the ETS – trading on all the Еurasian Тrade System Сommodity Exchange markets (Kazakhstan).
  7. The vendor license (the monthly flat fee paid by a distributor) is payable regardless of whether such distributor has clients (end users). The vendor license includes the right of a distributor to disseminate the Delayed Market Data and End-of-Day History (trading results historical data) without paying any additional fees.
  8. The monthly per client fee (monthly variable fee) is payable in addition to the vendor license if a distributor has clients (end users).
  9.  (*) The information product "The Moscow Exchange by request" implies providing the real time Market Data for a certain instrument traded on any Moscow Exchange Group market at a specific time including information on best bid/ask.
  10. A distributor shall provide the Market Data to its clients (end users) for personal use, inter-alia in Non-display systems (inclusive of the algorithmic trading systems, but excluding systems for calculation of the Derived Data purposed for further public distribution). The end-users are not allowed to distribute the received Market Data without the written consent of the Exchange.
  11. The Tariffs do not include VAT. VAT is charged in the cases stipulated in the legislation of the Russian Federation. In cases where the service recipient is not a resident of the Russian Federation, the tariff for the information service is not subject to VAT, provided that the recipient of the service presents the documents proving that the recipient of the service executes his business activity not on the territory of the Russian Federation.

2) Real Time Market Data Snapshots, Delayed Market Data, End-of-Day History

Information product Tariffs (in Rubles per month)
Non-issuers Issuers
1. Real Time Market Data Snapshots 300,000 5,000
2. Delayed Market Data 25,500 3,000
3. End-of-Day History 15,000 1,000

Remarks:

  1. The tariff for the Real Time Market Data Snapshots also implies the right of a distributor to disseminate the Delayed Market Data and End-of-Day History (trading results historical data) without paying any additional fees.
  2. The tariff for the Delayed Market Data also implies the right of a distributor to disseminate the Delayed Market Data and End-of-Day History (trading results historical data) without paying any additional fees.
  3. The tariffs applied to an issuer imply dissemination of the Market Data exclusively as for securities of this issuer.
  4. The tariffs in the table above are fixed and not related to the number of the data recipients.
  5. The information products indicated in the table above include market data for all the markets of the Moscow Exchange Group.
  6. The tariffs in the table above imply the right for the distributors to further disseminate the Market Data received by publishing thereof on their proprietary web-sites, sending direct e-mails, messages to mobile devices, distributing via the radio and TV channels, etc. and does not imply distributing the Market Data on web-sites not belonging to the distributor and being maintained (hosted) by it. 
  7. The tariff for the Real Time Market Data Snapshots does not applied to the distributors' proprietary information systems implying using terminals and products that are not constitute a web-site.
  8. VAT is charged in the cases stipulated in the legislation of the Russian Federation.
  9. If a distributor disseminates partial volume of data constituting the Information products indicated in the table above, the Exchange is entitled to specify in the agreement with the distributor the adjusted amount of payment based on the tariffs indicated in the table above and partial volume of disseminated data. 

 

III. Market Data services rendered to distributors acting outside the Russian Federation

1) Real Time Market Data

Information product Tariffs
(US Dollars)
1. Vendor license (a fixed part of vendor's monthly fee) 1,500
2. Per client fees (a variable part of vendor's monthly fee) Legal entities Individuals
per an Access point:
  1. EQUITIES
  2. BONDS
  3. CURRENCIES
  4. FUTURES & OPTIONS
  5. Markets of the Ukrainian Exchange
  6. Markets of the ETS
per a request:
  1. The Moscow Exchange by request (*)

 

85
85
85
60
25
15

 

0.01

 

10
10
10
10
10
10

 

0.01

Remarks:

  1. EQUITIES – trading in equities, fund units and depository receipts on the Moscow Exchange Group markets.
  2. BONDS –trading in bonds on the Moscow Exchange Group markets.
  3. CURRENCIES – trading in foreign currencies at the Moscow Exchange.
  4. FUTURES AND OPTIONS – trading in standard contracts at the Moscow Exchange.
  5. Markets of the Ukrainian Exchange – trading on all the Ukrainian Exchange markets (Ukraine).
  6. Markets of the ETS – trading on all the Еurasian Тrade System Сommodity Exchange markets (Kazakhstan).
  7. The vendor license (the monthly flat fee paid by a distributor) is payable regardless of whether such distributor has clients (end users). The vendor license includes the right of a distributor to disseminate the Delayed Market Data and End-of-Day History (trading results historical data) without paying any additional fees.
  8. The monthly per client fee (monthly variable fee) is payable in addition to the vendor license if a distributor has clients (end users).
  9.  (*) The information product "The Moscow Exchange at the request" implies providing the real time Market Data for a certain instrument traded on any Moscow Exchange Group market at a specific time including information on best bid/ask.
  10. A distributor shall provide the Market Data to its clients (end users) for personal use, inter-alia in Non-display systems (inclusive of the algorithmic trading systems, but excluding systems for calculation of the Derived Data purposed for further public distribution). The end-users are not allowed to distribute the received Market Data without the written consent of the Exchange.
  11. All tariffs are exclusive of VAT and not subject to VAT provided that documents proving rendering the Market Data services outside the Russian Federation as per the law of the Russian Federation have been submitted.

2) Real Time Market Data Snapshots, Delayed Market Data, End-of-Day History

Information product Tariffs (in US dollars per month)
Non-issuers Issuers
1. Real Time Market Data Snapshots 10,000 175
2. Delayed Market Data 850 100
3. End-of-Day History 500 35

Remarks:

  1. The tariff for the Real Time Market Data Snapshots also implies the right of a distributor to disseminate the Delayed Market Data and End-of-Day History (trading results historical data) without paying any additional fees.
  2. The tariff for the Delayed Market Data also implies the right of a distributor to disseminate the Delayed Market Data and End-of-Day History (trading results historical data) without paying any additional fees.
  3. The tariffs applied to an issuer imply dissemination of the Market Data exclusively as for securities of this issuer.
  4. The tariffs in the table above are fixed and not related to the number of the data recipients.
  5. The information products indicated in the table above include market data for all the markets of the Moscow Exchange Group.
  6. The tariffs in the table above imply the right for the distributors to further disseminate the Market Data received by publishing thereof on their proprietary web-sites, sending direct e-mails, messages to mobile devices, distributing via the radio and TV channels, etc. and does not imply distributing the Market Data on web-sites not belonging to the distributor and being maintained (hosted) by it. 
  7. The tariff for the Real Time Market Data Snapshots does not applied to the distributors' proprietary information systems implying using terminals and products that are not constitute a web-site.
  8. All tariffs are exclusive of VAT and not subject to VAT provided that documents proving rendering the Market Data services outside the Russian Federation as per the law of the Russian Federation have been submitted.
  9. If a distributor disseminates partial volume of data constituting the Information products indicated in the table above, the Exchange is entitled to specify in the agreement with the distributor the adjusted amount of payment based on the tariffs indicated in the table above and partial volume of disseminated data. 

IV. Services for provision of the Market Data (direct access) being used in proprietary Non-display systems and generation of the Derived Data intended for further distribution. Data services for mock trading (Exchange Game Data)

1) The Market Data (direct access) being used in the proprietary Non-display systems

Information product Tariffs
Residents
(in Rubles per month)
Non-residents
(in US dollars per month)
1. The Market Data (direct access) to be used
in 1 (one) proprietary non-display system
15,000 500
2. The Market Data (direct access) to be used
in the unlimited number of proprietary non-display
systems owned by one individual or a legal entity
25,500 850
3. The Market Data (direct access) to be used
in the unlimited number of proprietary non-display
systems owned by a group of affiliated entities
76,500 2,550

Remarks:

  1. The tariffs for the Market Data (direct access) to be used in Non-display systems imply optional provision of the Real Time Market Data (including orders), or Delayed Market Data, or End-of-Day History (without orders).
  2. The Market Data (direct access) to be used in Non-display systems include market data for all markets of the Moscow Exchange Group.
  3. VAT is charged in the cases stipulated in the legislation of the Russian Federation.

2) The Market Data being used in generation of the Derived Data intended for further distribution

Information product Tariffs
Residents
(in Rubles per year)
Non-residents
(in US dollars per year)
1. The Market Data of the Moscow Exchange Group
to be used for generating the Derived Data for its further distribution
1,125,000 37,500
2. The Market Data of the Ukrainian Exchange
to be used for generating the Derived Data for its further distribution
450,000 15,000

Remarks:

  1. The tariffs for the Market Data being used in generation of the Derived Data imply optional provision of the Real Time Market Data (including orders), or Real Time Market Data Snapshot, or Delayed Market Data, or End-of-Day History (without orders).
  2. The tariffs in the table above are fixed and not related to the number of the derived parameters created based on the Market Data and number of the Derived Data recipients.
  3. VAT is charged in the cases stipulated in the legislation of the Russian Federation.

3) Exchange Game Data (derived data used for mock trading)

Information product Tariffs
Residents
(in rubles per month.)
Non-residents
(in US dollars per month)
1. Game (mock trading) Server (Stock, Currency (FX) and Derivative markets) 15,500 525

Remarks:

  1. The tariffs for the Game Data being used for mock trading are applied where such Game Data is provided both through accessing directly the Exchange's Game (mock trading) servers and distributors.
  2. The tariffs for the Game Data being used for mock trading are charged on/per each distributor disseminating such data to end users. Number of such end users is not capped.
  3. VAT is charged in the cases stipulated in the legislation of the Russian Federation.

 

Documents to download
Tariffs for the Moscow Exchange Information Services

Contracts & agreements
To receive drafts of standard Moscow Exchange contracts/agreements related to provision and usage of the Exchange market data please send your request to the Department of Indices and Market data of Moscow Exchange. The specialists of the Department will be glad to provide you with further comments and details in regard to contracting process.

V. Tariffs on providing the data from the "MOEX Board" system of indicative quotes, applicable for data distributors (data vendors)

Information product Tariff
(in US dollars per month per Access Point)
1. MOEX Board 50

Remarks:

  1. VAT is charged in the cases stipulated in the legislation of the Russian Federation.

 

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