Dotex sending notice for illegal use of data feed

[sreyas]

NSE India says using NSE data (even for nse bhavcopy and google finance or yahoo finance data) on website or blogs, we have to pay subscription fee on Dotex

 

[bunny]

Data mining by a NSE member from his/her own Terminal say Odin, Neat or anyother : Any views on its legality ! He does not SELL it but provides it to his Clients for their Personal use.

Is a NSE member entitled to 'save' the Data he receives on his terminals?

Does not sell, but provides to clients? Conflicting right?

 

[shashanktrader]

NSE India says using NSE data (even for nse bhavcopy and google finance or yahoo finance data) on website or blogs, we have to pay subscription fee on Dotex

If you are taking data from google finance, the only people you should be paying, if at all, is google. How is Dotex involved in this. They must already be getting the money from google. Whether google is allowed to sell further or not, is between dotex and google, and you should not be concerned about it.

BTW, can you tell whether ur website was being used for commercial purpose?

 

[sreyas]

No it is a blog.

 

[sreyas]

Can we use Bhavcopy (to import on spread sheets) from nse website for free on non commercial websites or blogs? Is it necessary to pay Dotex for this purpose? If payment is necessary, then what will be the subscription charges?

 

[shashanktrader]

Can we use Bhavcopy (to import on spread sheets) from nse website for free on non commercial websites or blogs? Is it necessary to pay Dotex for this purpose? If payment is necessary, then what will be the subscription charges?

A lot of websites provide restrictions on automated data mining, as these put pressure on their bandwidths etc. The easy way out is to put something like Captcha etc. You will have to go through the Terms & Conditions on NSE site to check whether they allow such automatic extraction.

If a site/blog is being used for non commercial purpose, there should be no subscription charges. At least that is what is the general practice.

Regarding subscription to Dotex, it starts from 50000 p.a. and for realtime data, is in the range of 20 lacs p.a. or something.

 

[sreyas]

I also have received this notice from NSE. Actually I am not extracting any NSE data. I am using only their bhavcopy (that also imported to spread sheet) on my blog. My blog is public (not a paid or encrypted blog), but using advertisement from adsense. I use some google finance quotes through spreadsheets on my blog. Google finance supports importing of NSE quotes on spread sheets, still I am confused that in a non commercial website (blog) can I display NSE quotes (delayed), or can I use these levels (with out displaying this levels on website - only display technical levels) for calculating Moving averages, pivot points, or other technical levels. Is it necessary to sign agreement with NSE (Dotex) to display the quotes and charts (delayed or eod) from other providers (Registered or non registered) on my website. I have requested for a clarification from NSE through email. But I have not received any reply. I request the help of community members on this issue.

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?

 

[curr]

Hey,
Will you disclose your website/blog address.
so we can better understand.

 

[devangan123]

Hey,
Will you disclose your website/blog address.
so we can better understand.

Do not disclose your website /blog name here, these NSE people have bankrupt minds like Congress party, just want to loot money from website owners. Their staff is searching even trading forums.

They are not interested whether you take subscription or not instead they are more interested in putting penalty on you.

 

[rythm.arora]

Do not disclose your website /blog name here, these NSE people have bankrupt minds like Congress party, just want to loot money from website owners. Their staff is searching even trading forums.

They are not interested whether you take subscription or not instead they are more interested in putting penalty on you.

Why so scared of NSE people? They cannot put any penalty or send notices. The regulating authority for capital markets is SEBI and not NSE