Tokyo Stock Exchange Spells Out Requirements, Fees For Would-Be Data Vendors


After years of inscrutability, the Tokyo Stock Exchange has published an English-language pamphlet for information vendors that describes its requirements, procedures and prices for real-time market data. The pamphlet comes in response to repeated requests from non-Japanese market data vendors for clarification of the TSE's policies and procedures (IMD, Oct. 2, 1989; June 12, 1989).

According to the pamphlet, the TSE now supplies market data directly to 80 different entities, including securi

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