Any market data for which ten minutes or more has elapsed from the time such market data was received by vendor and which vendor retransmits but which is not delayed snapshot market data. However, it is not assessed on a per terminal basis like real-time continuous. Instead, fees for delayed continuous market data are assessed directly to the vendor and are based on their total number of delayed customers. Whether or not the vendors pass the delayed fees on to the customers is their choice. Any type of equipment, either fixed or portable, which is capable of receiving, accessing or displaying market data.
Several vendors have multiple lines in case one goes down.
We have one here, and the customer has one there. The cost of leasing those modems each month, and ensuring a reliable transfer of data, is what the direct access fee is used for. The indirect access fee is used to cover the costs of ensuring a reliable transfer of data to all vendors. Each specific street address where a device is capable of receiving MidAm market data. MidAm Market Data includes, but is not limited to, bids, asks, and market prices of commodity futures or options, opening and closing range prices, high-low prices, settlement prices, estimated and actual contract volume, and information regarding market activity including exchange for physical transactions.