S&P Indices and Dow Jones Indices Licensing Frequently Asked Questions

1. Why is Chicago Mercantile Exchange Inc. (“CME”) handling licensing of the intraday SPI and Dow Jones Indices?

CME will act as SPDJI’s licensing agent, distribution service provider, and will be executing the license agreement on behalf of SPDJI.  As a result, customers of S&P Cash Indices, Dow Jones Indices and CME will experience efficient uniform services.

2. What are the major timelines of this licensing transition?

Date

Event

July 2017 (From June 2017)

A customer specific notice of the transition for existing agreements will be mailed to all firms.  SPDJI or CME, as applicable, will terminate your existing agreement and you will be provided access to an online transition to tool to view updated terms and conditions.  A summary of changes will be provided including any changes to fees, terms and conditions, reporting requirements and invoicing.  

October 2017 (From July 2017)

Availability of Online Transition Tool

January 1, 2018 (From October 1, 2017)

Transition Date

February 01, 2018 (From November 1, 2017)

First day for S&P Dow Jones Licensed usage reporting

CME Data Services Platform open for January reporting

March 2018

January invoices will be sent to customers for January reported usage.

3. Why do I need to sign a separate agreement with CME when I already have a licensing agreement?

All customers who have an existing MDLA for S&P usage will migrate to a new SPDJI Agreement that covers Real Time and Delayed usage for Dow and S&P Cash Indices. SPDJI will maintain a direct contractual relationship with its clients going forward. CME will act as SPDJI’s licensing agent, distribution service provider, and will be executing the license agreement on behalf of SPDJI.

4. How will I execute the new Agreement?

All customers must wait for the Online Transition Tool (CME Data Services Platform) as it will present a complete view of your transition information including a summary of all licenses to be migrated, specific changes in billing and invoice information and will allow customers to update their specific contacts, additional entities and other information. The solution will also present final documents for electronic signature via Docusign.

5. How do I get access to CME Data Services Portal?

All users will need to create a CME Group Login ID which will grant them access to the Data Services Portal.

Link to create a CME Group Login:
https://login.chicago.cme.com/sso/register/

Link to CME Data Services Portal:
https://dataservices.cmegroup.com/

6. Do you have any tutorials or literature on the CME Data Services Platform?

CME Group offers various online demos and tutorials, please use the link below to navigate.

http://pages.cmegroup.com/content-2016-cme-market-data-platform.html

7. Are there any changes to my market data license fees as a result of this change ? S&P Cash Indices

S&P Cash Indices
At this time, there are no planned changes to license fees for S&P Cash Indices. Should there be any changes, CME Group will provide 90 days’ notice in advance of any fee changes.

Dow Jones Indices
You will be contacted by SPDJI for any fee changes.

8. Will there be a change in billing frequency?

S&P Cash Indices
At this time there are no planned changes to billing for S&P Cash Indices. Variable fees based on monthly reporting will continue to be billed in arrears with monthly fixed licenses billed at the end of the current month.

Dow Jones Cash Indices
Dow Jones Indices will migrate from their current annual in advance or quarterly in arrears billing cycles to either annual in advance or monthly in arrears to be consistent with CME Group policy.

Your customer specific migration document will outline your Dow Jones licenses current and future billing specifications.  You can view a diagram of the billing and reporting changes for licenses that require reporting here.

9. Will there be changes in reporting requirements?

S&P Cash Indices
Customers will be required to report usage for S&P Cash Indices licenses under new reporting codes. Those codes will be communicated in advance of the February 1, 2018 reporting start for January 2018 inventory.  Location based reporting will continue to be required based on specific licenses.

As a reminder of current policy, reports are due within 30 days after the end of each calendar month, for that month. For example, January inventory reports are due by February 28th.

Dow Jones Cash Indices
Customers will be required to report usage for DJ Indices aligned with CME Group policy for specific licenses.  User location based reporting will be required for specific Dow Jones Cash Indices.   Reporting will be required monthly and will follow the standard CME and S&P format.

CME can support manual reporting, excel file upload, VARS and VRXML for your monthly reporting requirements. Please see the following about monthly reporting file formats including a sample file.  

http://www.cmegroup.com/market-data/faq-market-data-licensing-and-billing-platform.html

Your customer specific migration document will outline those licenses requiring user location reporting.

10. Will there be a change in how I am invoiced?

S&P Cash and Dow Jones Indices Licensing will be invoiced under a CME invoice with payment to be made to Chicago Mercantile Exchange, Inc. All invoices will be available in CME Data Services Platform.

If you have an existing MDLA and will also be under an SPDJI Agreement you will receive two separate invoices.

Fees, charges and other sums are due to CME within 30 days after the date of invoice issued by CME Group.

11. Are invoices mailed or sent electronically?

Invoices will be mailed. All contacts that are permissioned for invoices will receive these invoices via email as well.

12. Where and how does my company submit payments?

Remittance information will be available on your invoice.

13. Can my company enroll in auto-debit?

Yes, please contact your Global Account Manager to enroll in auto debit.

14. Will Licensee’s be required to maintain agreements with Subscribers?

Any Licensee that provides data to a Subscriber will be required to maintain a Subscriber Agreement.  A Subscriber is defined as (1) any party, other than a Sub Vendor or Service Facilitator, receiving information from any member of the Licensee’s Group, under the terms of a Subscriber Agreement, and (2) any member of the Subscriber’s Group receiving information in accordance with this Agreement and the Subscriber Agreement.

15. My company would like to add additional Services leveraging S&P Cash or Dow Jones Indices, how do we do this?

Your company will be able to add any Services after completion of the migration of existing licenses.

Please contact your Global Account Manager after completing your migration to add additional Services to your account.

16. My company would like to remove licenses leveraging S&P Cash or Dow Jones Indices, how do we do this?

Please contact your Global Account Manager to remove any licenses prior to affirmation in the Online Transition Tool.  Please do not affirm acceptance of any licenses in the Online Transition Tool that you intend to remove; this will result in billing and invoicing errors.

17. How do we find out who our CME Group Global Account Manager is?

In July you received communication which will has your Global Account Manager’s contact information listed.

18. Who is responsible for licensing for End of Day Data, Historical and Derived data for S&P and Dow Jones Indices?

S&P and Dow Jones Indices handle EOD, Historical and Derived data licensing.  Please contact your S&P Dow Jones Indices Account Representative with any additional questions or at the following email alias: index_services@spglobal.com

19. Are there any technical changes in regards to channels and IP’s for firms who connect directly to CME Group for S&P Dow Jones Indices

No, there are no changes to CME MDP related to the licensing changes. They will remain on Channel 210 – S&P Indices and Channel 211 – Dow Jones Indices.  

20. Who should I contact with questions?

Customers with questions concerning S&P branded indices may contact their CME Group Global Account Manager (GAM) directly, or the regional GAM team if unsure of the assigned GAM:

United States:
+1 312 634 8395
marketdata@cmegroup.com

Europe: 
+44 (0) 203 379 3856
marketdataemea@cmegroup.com

Asia:
+65 6593 5505
marketdataapac@cmegroup.com

Customers with questions regarding Dow Jones-branded indices may contact their SPDJI account representative with any additional questions directly: index_services@spglobal.com