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Other Administrative
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Market Data User
Committee
Enterprise License Template Conference
Call
September 9, 1997
Overall
objective To reduce the frequency and complexity of the administrative processes
associated with market data reporting, billing, reconciliation, inventory management,
and payment processing. Template
- Global license including all business centers,
divisions, operating entities with ownership by the parent organization of 50
percent or greater.
- Unit of count
based on keystation (for standalone terminals) or user/log-in ID (for
datafeed accesses).
- Establishment
of a direct billing and reporting relationship between the firms eligible for
an enterprise license and the exchange (to eliminate multiple access fees and
double billing)
- User firms
want control over distribution and the ability to use multiple platforms, including
private network intranets, without pre-approval. The user firm must have an approved
entitlement/permissioning system in place (if it's not approved, the firm is
not eligible for an enterprise license). If approved, then the user's entitlement/permissioning
system will drive the billing and reporting process without the need for additional
pre-approval.
- The enterprise licenses
is executed on an annual basis (i.e. determination of an annual dollar amount).
The billing cycle can be divided into any increment (annual, quarterly, monthly,
etc.) which meets the needs of the firm and the exchange. The firm and the
exchange are entering into a one-year commitment. There is no adjustment for changes
(either up or down) during that year with exceptions for ... acquisitions,
mergers, RIF's spin-offs or other material changes in the makeup of the organization.
- The exchange has the right to audit to
verify the scope of and compliance with the enterprise license (see FISD Audit
Guidelines).
- The enterprise
license should cover all access channels including Intranets and vendor web services
as long as they are operating under a single user log-in scenario.
- User
firms also want an enterprise license to cover Web distribution to their client
base.
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