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Contracts

Exchange Contract Guide

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.