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Below are the minimum requirements for reporting code registration. A firm may choose to register multiple codes for the same service type (simply to distinguish between services) however it is only required that single code is registered for the service type requirement. 


Service Type RequirementDistributorAccess FirmESP
External Real-time Data Feed/API Access PointYES

External Real-time Data Feed/API Users/ApplicationsYES

External Delayed Data Feed/API Access PointYES

External Graphical User Interface UsersYES

Internal Users/Applications of Real-time Market DataYESYESYES

What is prior approval?

When a Distributor or ISV Distributor registers a reporting code with the exchange, we will indicate if the service type for which the Distributor is registering requires prior approval. This means that the Distributor may not on-board a new customer for the specified service without first receiving written approval from the exchange. Typically all data feed or API services require prior approval. Any entity that receives Market Data through a data feed or API is required to be separately licensed with the exchange. Prior approval ensures the entity requesting access to a Distributor's service is adequately licensed with the exchange to receive Market Data. Note that the exchange might also contact the Distributor with instructions to immediately discontinue providing the service to any entity. A distributor is required, per the Market Data License Agreement, to comply with disconnect requests. 

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