Dotex sending notice for illegal use of data feed

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rkkarnani

Well-Known Member
#41
#41
throwawayacc123 said:
How do they know where the feed is coming from.

I could have a website that could get real time quotes/data from my trading terminal and display it on my website.
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Tats what somebody raised a question about here : Whether as per NSE agreement with their Members can they "mine" the data from Trading Terminals?

If they are allowed, is the data for captive use or can be shared with others.

I am very sure that IEOD data that NSE sells is SOLD for the "exclusive" use of the Buyer. They Buyer has to execute a BOND for not sharing on a Stamp Paper.
I had once asked for a quote and this was one of the terms of sale of Historical data !
 
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throwawayacc123

Well-Known Member
#42
#42
rkkarnani said:
Tats what somebody raised a question about here : Whether as per NSE agreement with their Members can they "mine" the data from Trading Terminals?

If they are allowed, is the data for captive use or can be shared with others.

I am very sure that IEOD data that NSE sells is SOLD for the "exclusive" use of the Buyer. They Buyer has to execute a BOND for not sharing on a Stamp Paper.
I had once asked for a quote and this was one of the terms of sale of Historical data !
Click to expand...
This is something the broker has to provide in the disclaimer before giving you the trading terminal.

If NSE sues you, broker also becomes liable then.
 
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rkkarnani

Well-Known Member
#43
#43
throwawayacc123 said:
This is something the broker has to provide in the disclaimer before giving you the trading terminal.

If NSE sues you, broker also becomes liable then.
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I dont know, but what about the Terminals given for on line trading by :
IBulls, Sharekhan MOSL etc etc. What is the status of the data mined from these terminals? Do these Broking House take a disclaimer from their individual clients for data use ? Any one using such terminal can go through the agreement signed and find out the status?
As we all know there are a lot of utilities on the Net, mostly Free, to mine data from such on line trading terminals.
 
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shashanktrader

New Member
#45
#45
rkkarnani said:
Most of the Data Feed providers in the Market are indeed "illegal" ! They are mining data from trading terminals and distributing through Servers.

I think, and I may be wrong : Their (Dotex) objection would be for display of RT charts using NSE data and not historical data/eod data or IEOD Data !
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The primary issue is - whether they are entitled to object. Is stock market data Proprietary of the exchange, or is it public property. It is being generated by thousands of traders, who are buying and selling stocks. A company like Dotex or similar can process this data and provide it in a certain format for distribution etc. But can they lay claim to ownership of that data?

As for showing realtime charts on websites, the charts are the website owners creation and intellectual property. There are many people out there providing realtime data for charting purpose, both big and small e.g. esignal, thomson, and smaller players. Whether the website owner uses the data from these vendors for his personal use or commercial use, will be bound by the contract between the website owner and data provider. Dotex should not have a role to play in this.

Mining of data from trading terminals may be "illegal" technically. It's the same like using cracked software/pirated copies of Windows/ downloading music/movies etc. Finally, it all boils down to the use - commercial or personal, which prompts companies to go after people. Personal use is generally ignored by companies for various reasons. Otherwise, technically, these companies and sue almost 90% of web users for doing some kind of illegal activity. Such are our laws ;);)
 
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rkkarnani

Well-Known Member
#47
#47
shashanktrader said:
The primary issue is - whether they are entitled to object. Is stock market data Proprietary of the exchange, or is it public property. It is being generated by thousands of traders, who are buying and selling stocks. A company like Dotex or similar can process this data and provide it in a certain format for distribution etc. But can they lay claim to ownership of that data?

As for showing realtime charts on websites, the charts are the website owners creation and intellectual property. There are many people out there providing realtime data for charting purpose, both big and small e.g. esignal, thomson, and smaller players. Whether the website owner uses the data from these vendors for his personal use or commercial use, will be bound by the contract between the website owner and data provider. Dotex should not have a role to play in this.

Mining of data from trading terminals may be "illegal" technically. It's the same like using cracked software/pirated copies of Windows/ downloading music/movies etc. Finally, it all boils down to the use - commercial or personal, which prompts companies to go after people. Personal use is generally ignored by companies for various reasons. Otherwise, technically, these companies and sue almost 90% of web users for doing some kind of illegal activity. Such are our laws ;);)
Click to expand...
Yes, it seems they (NSE/Dotex)can lay claim to the data generated ! And this also seems the norm world over !
You are honest till you are caught !
 
S

shashanktrader

New Member
#50
#50
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