I had an interesting/scary thought today... Could those who are are sharing charts that display globex market data (i.e ES or CL candlesticks) in their trading journals be prosecuted for violating CME market data licensing agreements? They surely paid for the data used to generate the chart and trade, but they almost certainly haven't paid to "re-distribute" market data. I know CME charges a fee to display real-time charts on websites...but what about delayed? What is the lag required that differentiates "real-time" from delayed. Could the users here who are making real time calls technically be prosecuted? I know this is an incredibly low probability event.... but is there legal ground for prosecution? What about all of these paid trading blogs/coaching services? Are they technically in violation of market data agreements because they are issuing real-time advice/information that is derived from real-time market data? I'm not trying to imply any wrong-doing by anyone here... this just seems like a potential grey area as exchanges try to boost their profits with data fee's. Sorry in advance if the CME data agreement covers this... I tried reading it, but its clearly not written for non-lawyers to understand.
Stop being paranoid. People have been publishing selected individual charts for a long time. Sure, if you publish a chart on every security (e.g. a financial portal) well then you probably have to agreements in place with the exchanges. Publishing a limited set of charts (especially if you have your own interpretations/annotations) would be considered fair use. Did you contact the exchanges? What did they say?