The Quotestream Connect Enterprise product is designed to allow various models for obtaining Real Time Market Data. The following flow chart can be used as a guide to determine which of the options will work with your business model. It is intended as a high-level overview. If you require further details, the steps below outline the full considerations.
Detail Level Explanations
Where the above flow boxes require further explanation, please refer to the below.
1. Client requests access to data-feed API service from QuoteMedia (snap Quotes or stream).
2. Please refer to this article for details on Vendor of Record related instructions: What is a Vendor of Record?
QM is Vendor of Record
5. QuoteMedia grants approval and provides Request APIs to create and manage individual end users.
6. Client has passed along the retail package entitlements to the Quotestream Connect Website and directs users to QM website. Example here: Quotestream Connect For Enterprise And User Registration.
7. Will the client bill users themselves? If so, then QuoteMedia will bill the client monthly for all user (exchange) fees.
11. For Market Data, the individual user is presented with a Quotestream Connect Webpage. User can also purchase Real-Time Data from Quotestream Connect webpage as designed with Client. User selects data package as desired.The end user agrees to their purchase of a Quotestream Connect account and QuoteMedia's terms of service.
12. QuoteMedia Servers check to see if Real Time data is selected and present the user with online Exchange Agreement(s) indicating that the user must sign and submit (where required).
13. When user signs and submits Exchange Agreement(s), the data is sent to QuoteMedia and stored under the individual username/profile.
14. When Agreement is recognised as being completed in full on the individual username/profile, QuoteMedia servers will return Real-Time data directly to the end user while they are logged on to their individual user session. Concurrent sessions not permitted.
15. User is logged into their session and receives data through the user authenticated api call. The api will either be xml/json which provides a snap quote (pull) or streaming data-feed api which provides streaming data (push). QuoteMedia is VoR in accordance with the responsibilities in this article: What is a Vendor of Record? . Unless otherwise interrupted, user session is terminated after 30 minutes of inactivity.
Client is Vendor of Record
5b. Does client have exchange approvals for raw data-feed distribution?
6b. QuoteMedia will verify exchange approvals and have the exchanges update their files to record QuoteMedia as providing data to Client.
8b. Will client be responsible for creating, updating and deleting their own user accounts to manage data access? Further details can be found here: What is a Vendor of Record and Service Facilitator?
9b. QuoteMedia acts a Service Facilitator. Client uses QuoteMedia User Management API to create and entitle users. Further details can be found here: What is a Vendor of Record and Service Facilitator?
10b. QuoteMedia provides Client with Client/Company Level data entitlements and data is sent to Client server.
11b. Client uses their own systems to perform VoR responsibilities: What is a Vendor of Record and Service Facilitator?