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

1. What are the roles of S&P Dow Jones Indices (“SPDJI”) and Chicago Mercantile Exchange Inc. (“CME”) with this transition?

Although SPDJI will be your counterparty to the license agreement, whether the licensed usage is for the intraday S&P Indices (“SPI) or Dow Jones Indices(“DJI”) index values, CME will act as the licensing and distribution agent and will be implementing the license agreement on behalf of SPDJI.

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

CME has handled licensing of intraday SPI for many years now. With CME as the licensing agent, customers will experience an efficient and uniform process with regards to the commercial policies, billing and reporting.

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

Date Event
July 2017 (Changed 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 in order to transition to an online tool with 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 (Changed from July 2017) Availability of Online Transition Tool
January 1, 2018 (Changed from October 1, 2017) Transition Date
February 01, 2018 (Changed from November 1, 2017) First day for SPDJI Licensed usage reporting CME Data Services Platform open for January reporting
March 2018 January invoices will be sent to customers for January reported usage.

4. Can I execute the agreement as sent or do I need to wait for the Online Transition Tool (“CME Data Services Platform”)?

All customers must wait to implement their agreements via the CME Data Services Platform.  The new platform will present a complete view of your transition information including 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. CME will notify all customers when the CME Data Services Platform is available including links to training guides and recorded videos.

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

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

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

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

6. 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 SPI usage will migrate to a new SPDJI Agreement that covers Real Time and Delayed usage for both SPI and DJI services. SPDJI will become the counterparty to SPI agreements and remain the counterparty in the contractual relationship with its clients going forward. CME will implement and execute the agreements on SPDJI’s behalf and act as SPDJI’s licensing agent, distribution service provider.  

7. Will there be a change in invoicing?

SPI and DJI 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, all fees will be consolidated into one invoice.

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

8. Will there be a change in billing?

SPI
At this time, there are no planned changes to billing for SPI. 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.

DJI
DJI will migrate from its current annual or quarterly 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 DJI licenses’ current and future billing specifications. 

9. Will there be changes in reporting requirements?

SPI
Customers will be required to report usage for SPI 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.

DJI
Customers will be required to report usage for DJI aligned with CME policy for specific licenses.  User location based reporting will be required for specific DJI usage.   Reporting will be required monthly and will follow the standard CME and SPI 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. How can my company access CME’s reporting system?

The reporting system will be made available via the CME Data Services Platform.  Each user at your company designated as the reporting contact will require a CME Login to access the CME Data Services Platform.  During the onboarding process, you will be able to sign up for a login. CME Data Services Platform is a web based tool that can be accessed via this URL: https://dataservices.cmegroup.com/

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

CME offers various online demos and tutorials, please use the link below to navigate.
http://pages.cmegroup.com/content-2016-cme-market-data-platform.html

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. 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.

15. My company would like to add additional Services leveraging SPI or DJI, 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.

15. My company would like to remove licenses leveraging SPI or DJI, how do we do this?

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

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

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

18. Who is responsible for licensing for End of Day Data, Historical and Derived data for SPI and DJI?

SPDJI will continue to handle End of Day, Historical and Derived data licensing for both DJI and SPI.  Please contact your SPDJI Account Representative or email index_services@spglobal.com with any additional questions. 

19. Are there any technical changes in regards to channels and IP’s for firms who connect directly to CME for the SPI or DJI data?

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. Whom should I contact with questions?

Customers with questions concerning SPI 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 DJI may contact their SPDJI Account Representative with any additional questions directly: index_services@spglobal.com.