The market
data contract is the principle document governing what vendors,
redistributors and subscribers can and cannot do with the data. To help make
contractual discussions (including external redistribution) more efficient,
FISD members have developed, published and continue to evolve an
Exchange Contract Guide (ECG) providing a
common legal and commercial framework as the starting point for contract
negotiations among exchanges, vendors and client firms. The ECG database
covers all the provisions in exchange contracts, provides commentary on the
underlying business concepts and includes links to representative sample
contract text.
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