Euronext Market Data Agreements

Find information relating to Euronext’s standardised market data licensing agreements and more.

Market Data Licensing

Want to receive, use or further redistribute real-time and/or delayed market data? Then you may have to enter into a market data licensing agreement with Euronext.

Note: if you only use delayed market data for internal (non-commercial) purposes, a licensing agreement with Euronext is not usually required.

Euronext Market Data Agreement (EMDA)

The EMDA is Euronext’s main market data licensing agreement.

It is applicable if:

• You want to obtain real-time market data via a direct feed from the Optiq Market Data Gateway (MDG).
• You want to further redistribute real-time market data and/or delayed market data to a third party (client)
• You are a trading member that wants to receive real-time market data from an Extranet Service Provider (ESP) or Application Service Provider (ASP).

Contractual documents

The EMDA consists of five contractual documents:

• EMDA Signature Form
• EMDA Order Form
• EMDA General Terms and Conditions & Policies
• Information Schedule
• Information Product Fee Schedule

Related documents

• Subscriber Terms and Conditions

Relevant guidelines

• Reporting Guidelines

• Natural User Application Guidelines

All documents are available at our Market Data documentation centre.

Euronext Datafeed Subscriber Agreement (EDSA)

The EDSA is a ‘light’ version of the Euronext Market Data Agreement (EMDA).

Applicable if:

• You are not party to the Euronext Market Data Agreement (EDMA) and
  • You want to receive Euronext real-time market data via a datafeed from a redistributor (for example a data vendor) and use it for your own (internal) purposes.
  • You want to engage in the non-display use of Euronext real-time market data in an environment that is managed and controlled by a redistributor, such as a data vendor.

This contract permits the internal use of Euronext real-time market data. If you want to further redistribute real-time and/or delayed market data to a third party, please refer to the EMDA.

Contractual documents

The EDSA consists of five contractual documents:

1. EDSA Signature Form;

2. EDSA Order Form;

3. EDSA General Terms and Conditions & Policies;

4. Information Schedule;

5. Information Product Fee Schedule.

All document are available at our Market Data documentation center.

Legacy contracts

The EMDA and EDSA were introduced 1 September 2017 for new real-time market data clients.

Existing clients migrated onto the new market data licensing agreements in 2018 and 2019 in different phases.

If you are still subject to one of Euronext’s old legacy market data licensing agreements, the contractual documents for these agreements are available from our Customer Portal. You are strongly advised to update to either the EMDA or EDSA as soon as possible.

Euronext Subscriber Terms and Conditions

The Subscriber Terms and Conditions are applicable to anyone receiving Euronext market data from a data redistributor (e.g. data vendors, brokers) for their internal use.