Intraday data

Quote from justrading:

Thanks this is very interesting. I don't trade stocks but do like to understand this sort of detail anyway. You never know when good information will come in handy.
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Yea I have seen that before, they don't let you charge people money via distributing the data. And it's not exactly FREE either.. go to bat's website and check out their products
 
Each exchange has their own terms:

Personal Use
Professional Use.
Internal Distribution
External Distribution

CME for example:
http://www.cmegroup.com/market-data/distributor/index.html

Fee Schedule: http://www.cmegroup.com/market-data/distributor/files/schedule-5-cme-mlda.pdf

You are required to enter into agreements and disclose your schema and marketing plans but it appears the fees for distributing EOD and historic data are not too onerous or unreasonable. Fees appear to be zero and they just want to keep tabs on whose doing what with their data.

Real time and delayed data is another story, they obviously want to protect this income stream.
 
From the NYSE professional market data agreement:

5. DATA SECURITY
(a) RETRANSMISSION PROHIBITED-Subscriber shall use Market Data only for its individual use in its
business. Subscriber shall neither furnish Market Data to any other person nor retransmit Market Data among its
premises.

Short answer: NO
 
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