Hi. I was wondering whether there are any legal issues wrt using historical quote data to generate content for a commercial web site. For example, if I wanted to generate charts and display historical data points and make people pay for access, is it necessary to get permission from nyse/nasdaq or the company who I purchase the data from, based on the fact that the standard agreement I sign with the broker to get access to quotes seems to permit only personal use? I assume it would be illegal to disseminate quotes directly, but tons of sites generate charts and display select data points and I assume they're not all getting permission for it. Thanks.
@Spearhead You can use the data on a commercial website with a couple of caveats: 1) you receive the data from a licensed delayed market data vendor 2) the market data vendor licenses the data for you to use on a commercial website 3) the data does not contain pricing which exchanges consider as "real-time", ie, the data is delayed by at least 20 minutes during market hours This currently applies to NYSE/NASDAQ, as well as CME. However, CME does reserve the right to charge for this data. As of 2015, CME does not charge anything, but they could (and most likely would) in the future. Cheers