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EDI Soundbites: Closing Prices Copyright and Competition Laws

For many years, there has been controversy relating to the practices of stock exchanges in the provision of closing prices data. Since 2008, EDI has been seeking clarity on this matter and has worked with a leading copyright consultant to examine worldwide the laws and regulations that govern this subject.

Jonathan (CEO & Founder) and Andrew Martin (Author of the Report) discuss the ‘Closing Prices and Other Stock Exchange Data: Copyright and Competition Law Issues‘ report published last month, giving some background into why they decided to create the report, the developing issues with intellectual property and the relationship between exchanges and third-party vendors.

Closing Prices and Other Stock Exchange Data: Copyright and Competition Law Issues

Closing prices PDF thumbnailThis paper reviews the claims made by many of the world’s stock and trading exchanges regarding closing prices and other trading data – specifically that they own the copyright and are entitled to control access, use and distribution. While there is little direct jurisprudence, it is increasingly clear no copyright exists on the data and that stock exchange databases are unlikely to enjoy database protection. Attempts to impose unreasonable terms and conditions, including but not limited to charges levied, may violate dominant position rules in the EU, and competition laws in the United States.

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About Exchange Data International
Exchange Data International helps the global financial and investment community make informed decisions through the provision of fast, accurate, timely and affordable data reference services. EDI’s extensive content database includes worldwide equity and fixed income corporate actions, dividends, static reference data, closing prices and shares outstanding, delivered via data feeds and the Internet. The firm covers all major markets with special emphasis on emerging and frontier markets e.g. Africa, Asia, Far East, Latin America and the Middle East.

EDI is based in London, with offices in New York, India, and Morocco.

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