Dotex sending notice for illegal use of data feed

[shashanktrader]

Dotex, which provided data and info-vending services of NSE, have been sending the following emails to a lot of website owners, who show technicals and charts etc. on their websites:

"We have observed that you are utilising National Stock Exchange of India Ltd. (NSE) data in your website/software, in this regard, you are advised to let us know from where you are sourcing the data. We would also like to bring to your notice the fact that such usage or display of the NSE data without entering into contract and paying the prescribed fees to DotEx International Limited (which is a 100% subsidiary of NSE handling the data info-vending services of NSE) is legally not allowed.

In this regards, we recommend that you to enter into an agreement and pay the subscriptions fees to DotEx with immediate effect and in the mean time stop the usage/ display / redistribution of the data with immediate effect.

You are hereby called upon to kindly show cause, within Five (5) working days from the date of this intimation, to present your case else we reserve our rights to institute appropriate proceedings under applicable laws at your risk as to cost and consequences, Please note."

Can any learned member here throw light as to how showing technicals on websites (like 200 DMA, breakout stockes and their prices, charts etc.) can be considered be illegal? There are hundreds of data feed providers in the market. Are all of them illegal?

 

[bunny]

Can you please share the email ID from which you received this email?

They may not have any objection to EOD data charting because bhavcopies are publicly available.

They may be more concerned about websites who display real-time charts or use intra-day data. These feeds are not publicly available. Therefore, they must have been procured by unlawful means.

 

[jagankris]

Can you please share the email ID from which you received this email?

They may not have any objection to EOD data charting because bhavcopies are publicly available.

They may be more concerned about websites who display real-time charts or use intra-day data. These feeds are not publicly available. Therefore, they must have been procured by unlawful means.

Even real time data or intraday charts - data feed is available from the trading terminal or one could have purchased from some other data vendor for a meager fees.

Dotex can send email but cannot stop people from doing so.

 

[shashanktrader]

Can you please share the email ID from which you received this email?

They may not have any objection to EOD data charting because bhavcopies are publicly available.

They may be more concerned about websites who display real-time charts or use intra-day data. These feeds are not publicly available. Therefore, they must have been procured by unlawful means.

The email id's are genuine and from [email protected]. It is from Dotex employees. Dotex email id is [email protected]

 

[fxgood]

Dotex, which provided data and info-vending services of NSE, have been sending the following emails to a lot of website owners, who show technicals and charts etc. on their websites:

"We have observed that you are utilising National Stock Exchange of India Ltd. (NSE) data in your website/software, in this regard, you are advised to let us know from where you are sourcing the data. We would also like to bring to your notice the fact that such usage or display of the NSE data without entering into contract and paying the prescribed fees to DotEx International Limited (which is a 100% subsidiary of NSE handling the data info-vending services of NSE) is legally not allowed.

In this regards, we recommend that you to enter into an agreement and pay the subscriptions fees to DotEx with immediate effect and in the mean time stop the usage/ display / redistribution of the data with immediate effect.

You are hereby called upon to kindly show cause, within Five (5) working days from the date of this intimation, to present your case else we reserve our rights to institute appropriate proceedings under applicable laws at your risk as to cost and consequences, Please note."

Can any learned member here throw light as to how showing technicals on websites (like 200 DMA, breakout stockes and their prices, charts etc.) can be considered be illegal? There are hundreds of data feed providers in the market. Are all of them illegal?

Most of Amibroker and more than 95% of data providers are doing so in India by illegal means

Showing derived data from original price info is by no means is illegal for Ex like MA values or values derived from indicators or different calculations, but showing real time or EOD data with out appropriate permission and data vending rights, is illegal.

 

[bunny]

but showing real time or EOD data with out appropriate permission and data vending rights, is illegal.

A random thought: When the market is a public place, why should the prices be regarded as private property?

 

[shashanktrader]

A random thought: When the market is a public place, why should the prices be regarded as private property?

Absolutely agree. Infact, I checked on NSE website. No where could I find written that the data has to be bought from Dotex only.

As of now, the only authorized data vendor that I know of is gdfl. And its prices are 3-4 times more than the others. If what Dotex is doing is correct, then traders will have no other option but to subscribe directly with gdfl or Dotex. This would be like creating a monopoly in the market, and we traders will not have any cheap source of data

 

[mastermind007]

Dotex, which provided data and info-vending services of NSE, have been sending the following emails to a lot of website owners, who show technicals and charts etc. on their websites:

"We have observed that you are utilising National Stock Exchange of India Ltd. (NSE) data in your website/software, in this regard, you are advised to let us know from where you are sourcing the data. We would also like to bring to your notice the fact that such usage or display of the NSE data without entering into contract and paying the prescribed fees to DotEx International Limited (which is a 100% subsidiary of NSE handling the data info-vending services of NSE) is legally not allowed.

In this regards, we recommend that you to enter into an agreement and pay the subscriptions fees to DotEx with immediate effect and in the mean time stop the usage/ display / redistribution of the data with immediate effect.

You are hereby called upon to kindly show cause, within Five (5) working days from the date of this intimation, to present your case else we reserve our rights to institute appropriate proceedings under applicable laws at your risk as to cost and consequences, Please note."

Can any learned member here throw light as to how showing technicals on websites (like 200 DMA, breakout stockes and their prices, charts etc.) can be considered be illegal? There are hundreds of data feed providers in the market. Are all of them illegal?

Pure License RAJ CRAP .... Angrez gaya.... yeh katora party chhod gaye.

If I trade, my trade constitute a blip on someone else's terminal. So, someone else's trade should also cause blip on my terminal. It can be viewed/argued as a fundamental right for me as a trader to access the real time data ...

Dotex, is a mere conduit of data and it neither creates nor has patent over data!. So, what legal rights does it have to send this? Nothing, nadda, zippo

Their fees are anything but reasonable in Indian market...

But, in India, misinformation sells... intimidation rakes in big .... so learn the one finger salute and enjoy the life... er I mean data.

 

[rh6996]

A random thought: When the market is a public place, why should the prices be regarded as private property?

Let us think a bit deeply : Is the market really a "Public Place" for general Public?

One needs to be Registered to trade here. You cannot just enter a Brokerage house or NSE and place orders even against hard cash as we do it in Public Markets for daily use purchases. The fact is Market is totally 'regulated' ! The NSE Members pay hefty charges for Membership and tradings.
So in my opinion its erroneous to suggest that Market is a Public Place.
Dotex is , as far as I know, part of NSE. Its the marketing arm for Data ! GDFL gets data from NSE for retail SALE !

 

[mastermind007]

Let us think a bit deeply : Is the market really a "Public Place" for general Public?

One needs to be Registered to trade here. You cannot just enter a Brokerage house or NSE and place orders even against hard cash as we do it in Public Markets for daily use purchases. The fact is Market is totally 'regulated' ! The NSE Members pay hefty charges for Membership and tradings.
So in my opinion its erroneous to suggest that Market is a Public Place.
Dotex is , as far as I know, part of NSE. Its the marketing arm for Data ! GDFL gets data from NSE for retail SALE !

Yes, But, Registration is not required because it is private entity. It is primarily for accountability and yes, "market" is regulated entity.

But any one with 500 Rs and few pieces of documentation can register and hence it is practically a public place.