The Bases of providing live trading data to the members of the Amman Stock Exchange for the year of 2015 Issued by virtue of the provisions of Article (5/B) of payments and fees Instructions for services provided by the Amman Stock Exchange to others for the year of 2005 as adopted by the decision of the Board of Directors No. (56/2015) dated 24/8/2015 and amended by the decision of the Board of Directors No. (64/2015) dated 21/9/2015 and by the decision of the Board of Directors No. (70/2018) dated 11/10/2018 [1]
Article (1)
These Bases shall be called " Bases of providing live trading data to the members of the Amman Stock Exchange for the year of 2015" it shall come into force as of 1/9/2015.
Chapter One: Definitions and General Provisions
Article (2)
A- The following words and phrases shall have the meanings assigned thereto hereunder, unless the context indicates otherwise:
| Amman Stock Exchange: | Amman Stock Exchange Company (ASE). |
| Board of Directors: | The Board of Directors of the ASE. |
| Chief Executive Officer (CEO): | The CEO officer of the ASE |
| Member: | The broker that joined the ASE membership. |
| live trading data: | Trading data issued by the ASE during the trading sessions that have been sent to the member within fifteen (15) minutes maximum. |
| Year: | The calendar year that starts from January, first until December, thirty first. |
| Trading Station: | The ASE's trading station that the member uses to enter buying and selling orders to the Electronic Trading System. |
| Inquiry Station: | The ASE's Inquiry Station that the member uses to check the immediate trading data. |
| Live Feed: | A system used by the ASE to provide members with the live trading data. |
| FIX Gateway: | Electronic gateway adopted by the ASE for allowing the members to connects their Order Management Systems (OMS) to the Electronic Trading System (ETS). |
| Order Management System (OMS): | Electronic system used by the member to enter buying and selling orders to the Electronic Trading System through the FIX gateway.
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B- The unknown or not existed words shall have their own meaning/ definition in by-laws and instructions issued by ASE unless the context indicates otherwise.
Article (3)
The live trading data shall be provided to the ASE's members through the following methods for the fees set out in these Bases:
- Trading and Inquiry Stations
- The direct connection to the FIX gateway and the live feed or contacting the authorized distributing company in order to operate the OMS and/or online data trading service.
Chapter Two: Trading and Inquiry Stations
Article (4)
- The ASE shall determine the maximum number of trading and Inquiry Stations for each member in line with technical capabilities and licenses granted to the ASE.
- The member shall bear equipment costs and connection for the installation and operation of trading and Inquiry Stations in its site according to the technical requirements set by the ASE.
Article (5)
The ASE charges the following fees on members who get live trading data via the ASE stations:
- Four hundred JD (400) annually for each trading station up to four (4) stations and one hundred fifty JD (150) monthly for each extra trading station.
- Two hundred JD (200) annually for each Inquiry Station up to four (4) stations and one hundred JD (100) monthly for each additional station.
- The broker who joined the membership of the ASE shall pay the fees due amount for the whole year whenever it joined as set in Paragraphs (A, B) of this Article.
Article (6)
If the member is completely suspended, AS shall take the following actions:
- Suspend the member's trading stations.
- If the suspension lasted for more than five (5) business days, the ASE shall take the following actions:
- Cancel the member's trading stations that are due to their monthly fees and the due amount for the remaining months of the year shall be credited to its account at the ASE.
- Continue suspending the member's trading stations that are due to their annual fees and no amount will be credited to its account for the rest months of the year.
- If the member's suspension lasted until the end of the year, the ASE shall cancel all the member's suspended trading stations by the end of the last trading session and no fees will be charged for the next year.
- All members' Inquiry Stations shall continue working unless it requested otherwise in writing.
- The member shall pay the full amount of the fees indicated in Article (5) of these Bases once it is decided to resume its work at any time of the year.
Article (7)
- If the member requested to suspend any of the trading/Inquiry stations, the ASE shall suspend the station but no amount will be credited to its account for the rest months of the year.
- If the member requests to cancel any of the trading/Inquiry stations, the ASE shall take the following actions:
- Suspend the member's trading/Inquiry Stations that are due to their annual fees and no amount will be credited to its account for the rest months of the year.
- Cancel the member's trading/ Inquiry Stations that are due to their monthly fees and the due amount for the remaining months of the year shall be credited to its account at the ASE.
Article (8)
The ASE shall cancel all brokers' suspended trading and Inquiry Stations by the end of the last trading session of the year, unless the member has submitted an application in writing to the ASE.
Chapter Three: Live Feed and FIX Gateway
Article (9)
- The member who wants to operate and use OMS on its site shall submit a written application to the ASE according to the adopted form for this end.
- The ASE shall approve for the member to use the OMS from its licensed site after verifying that it meets all the technical and functional requirements set by the ASE.
- The ASE shall allow the member to link its OMS with the Electronic Trading System (EST) through the FIX Gateway and live feed.
- The broker shall bear equipment and connection costs of thelive feed and FIX Gateway according to the technical requirements set by the ASE.
Article (10)
The ASE charges the following fees on members who wants to operate OMS or/and online trading service in order to get the live trading datathrough the direct connection with the ASE live feed or through any of the authorized financial distributing company, and for the direct connection with the FIX Gateway based on the member's share from the market value by calculating the average of its trading value to the overall trading value during the last three (3) years as the following:
Member's share from the market value upon the trading value's average during the last three years | Annual Fees (JD) |
| Less or equal 1% | 2,000 |
| More than 1% up to 2% | 4,000 |
| More than 2% up to 5% | 6,000 |
| More than 5% up to 10% | 8,000 |
| More than 10% | 10,000 |
The aforementioned fees indicated in Paragraph (A) of this Article includes using up to six (6) users on OMS in order to enter buying and selling orders and up to six (6) users to follow up the live trading data, where the exchange charges two hundred JD (200) annually as fees in return for each additional user to the OMS and one hundred JD (100) annually for each additional user to the live trading data.
Despite what indicated in Paragraph (A) of this Article, if the member wanted to operate OMS or/and Online Trading Service during the year it joined the ASE membership, it shall pay all the due annual fees for the current year for upon the minimum rate according to Paragraph (A) of this Article.
Despite what indicated in Paragraph (A) of this Article, and without prejudice to the provisions of Paragraph (B) of the same Article, if the member who has joined the ASE membership for less than three (3) years wanted to operate OMS or/and Online Trading Service, the ASE shall calculate the due fees regarding to its average trading value during its membership period.
The due fees on the member shall be calculated after deducting the annual and monthly fees paid to the ASE for the canceled trading and Inquiry Stations for the remaining months of the year after OMS operating date but if fees paid by the member exceeds the due fees as a result of operating OMS, hence the remaining balance shall be credited to the member's account at the ASE and shall be deducted from the due fees for the coming years.
Article (11)
If the member is ready for operating OMS, it shall undertake the following:
- Submit a written application to cancel the trading stations that exceeds two (2) and the inquiry stations it wants to cancel.
- Pay all due fees for getting live trading data through the direct connection with live feed provided by the ASE or through an authorized distributing company and for its direct connection to the FIX gateway according to the provisions of Article (10) of these Bases.
Article (12)
If the member is completely suspended, the ASE shall take the following actions:
- Terminate its connection with FIX gateway and no amount will be credited to its account for the rest months of the year.
- Keep its connection with the live feed unless the member submitted a written application with otherwise.
Article (13)
If the member requested to suspend its connection with FIX Gateway and/or live feed, the ASE shall suspend its connection and no amount will be credited to its account for the rest of the year.
Article (14)
The member shall subscribe for two (2) trading stations provided by the ASE for emergency cases when it cannot operate its OMS for any reason that is beyond its control, and to use them to enter block trades.
Despite what indicated in Article (5) of these Bases, the fees of the two (2) trading stations indicated in Paragraph (A) of this Article shall be two hundred JD (200) annually for each trading station and one hundred JD (100) annually for each inquiry station up to (2) stations.
Article (15)
the ASE shall undertake to exercise due diligence to ensure that OMS is completely complying with the technical and functional requirements set for this purpose, the ASE shall not bear any legal responsibility toward the member or its clients due to using OMS and/or being disconnected with FIX Gateway or live feed and/or the member is unable to operate OMS and/or any delay or error in live trading data when it is beyond the ASE control and the member or any of its clients has no right to sue or return to the ASE for any loss, damage, or loss of profits as a result of that.
Article (16)
The member shall use the OMS version approved by the ASE and shall get the ASE's prior approval in writing in case it wants to add any modifications to the OMS or to change the currently used one.
The ASE shall charge one hundred fifty JD (150) as fees for testing and checking any required modifications on OMS according to Paragraph (A) of this Article.
Chapter Four: Final Provisions
Article (17)
Fees mentioned in these Bases shall be annually due and the member shall pay the due fees within maximum ten (10) business day from the beginning of the year.
Article (18)
If the member did not pay the due fees before deadline according to these Bases, the ASE shall disconnect all Trading & Inquiry Stations with FIX gateway and Live Feed System from the due date until paying all the outstanding fees and the member or any of its clients has no right to sue or return to the ASE for any loss, damage, or loss of profits as a result of that.
Article (19)
The member who wants to distribute the live trading data to its clients shall sign an agreement for this purpose with the ASE.
Article (20)
The member's internet trading service users shall be exempted from monthly fees due to being provided with any data indicated in the provisions of data distribution agreement signed by the member with the ASE for the year of 2019.
Article (21)
If any of the OMS developing or distributing company applied a request to test their OMS and obtained a one year certificate from the ASE indicating that the OMS is comply with all the technical and functional requirements set by the exchange, the member shall pay three thousand- five hundred JD (3,500) for doing the required tests and issuing the needed certification.
If the OMS developing or want to renew the certificate mentioned in Paragraph (A) of this Article, shall retest the system and issue the needed certification for fifty percent off (50%) of the due fees indicated in Paragraph (A) of this Article.
If the OMS developing or distributing company want to modify the valid certificate indicated in Paragraph (A) of this Article due to modifying the OMS version, the ASE charges one hundred fifty JD (150) as fees for testing and checking the OMS and issuing the new certificate.
Article (22)
The CEO shall take all needed decisions for executing the provisions of these Bases unless indicates otherwise.
[1] The adopted amendments shall be in force by the decision of the Board of Directors No. (70/2018) dated 11/10/2018 as of 1/1/2019.