Dotex sending notice for illegal use of data feed

[curr]

Hey,
I know lots of website still using data feeds.
they never receipt any emails like you said.

So please check the email is really official or you caught by some spam messages.

 

[sreyas]

Hey,
I know lots of website still using data feeds.
they never receipt any emails like you said.

So please check the email is really official or you caught by some spam messages.

The email id's are genuine and from [email protected]. It is from Dotex employees. Dotex email id is [email protected]

 

[throwawayacc123]

Dotex, which provided data and info-vending services of NSE, have been sending the following emails to a lot of website owners, who show technicals and charts etc. on their websites:

"We have observed that you are utilising National Stock Exchange of India Ltd. (NSE) data in your website/software, in this regard, you are advised to let us know from where you are sourcing the data. We would also like to bring to your notice the fact that such usage or display of the NSE data without entering into contract and paying the prescribed fees to DotEx International Limited (which is a 100% subsidiary of NSE handling the data info-vending services of NSE) is legally not allowed.

In this regards, we recommend that you to enter into an agreement and pay the subscriptions fees to DotEx with immediate effect and in the mean time stop the usage/ display / redistribution of the data with immediate effect.

You are hereby called upon to kindly show cause, within Five (5) working days from the date of this intimation, to present your case else we reserve our rights to institute appropriate proceedings under applicable laws at your risk as to cost and consequences, Please note."

Can any learned member here throw light as to how showing technicals on websites (like 200 DMA, breakout stockes and their prices, charts etc.) can be considered be illegal? There are hundreds of data feed providers in the market. Are all of them illegal?

What kind of charts are you displaying on your blog/site. Show some examples.

if what you are saying is true , then traderji website will be shutdown, lol. so something is amiss.

 

[sreyas]

If dotex charge a penalty, I think defending legally is the right option, because they don't have the rights to do this. Is n't it? Dear senior members, what is your opinion

 

[curr]

then why not you disclose your website/blog id.
it will helpful to lots of person to understand about your problem.

 

[shashanktrader]

If dotex charge a penalty, I think defending legally is the right option, because they don't have the rights to do this. Is n't it? Dear senior members, what is your opinion

Dotex cannot/is not entitled to charge penalty. They can, if they wish to, take legal action against you. But before that, they should have a case in the first place. As you know, any lawyer will also file a counterclaim to these guys, and such emails can easily be termed as harassing and threatening (similar to loan/credit card recovery guys).

Dotex doesn't even have a website. No where in NSE website is it explicitly mentioned that all users, whether commercial or non-commercial, should buy data only from Dotex. That would be like a monopoly and against the competition law. Further, copyright act should not apply to stock market quotes.

More due diligence is required on this subject. There is very much ambiguity and ignorance among people related to Intellectual Property laws in India and especially, cyber laws and laws related to Information/Websites etc. That is why such people can take advantage.

 

[rkkarnani]

Dotex cannot/is not entitled to charge penalty. They can, if they wish to, take legal action against you. But before that, they should have a case in the first place. As you know, any lawyer will also file a counterclaim to these guys, and such emails can easily be termed as harassing and threatening (similar to loan/credit card recovery guys).

Dotex doesn't even have a website. No where in NSE website is it explicitly mentioned that all users, whether commercial or non-commercial, should buy data only from Dotex. That would be like a monopoly and against the competition law. Further, copyright act should not apply to stock market quotes.

More due diligence is required on this subject. There is very much ambiguity and ignorance among people related to Intellectual Property laws in India and especially, cyber laws and laws related to Information/Websites etc. That is why such people can take advantage.

Dotex is a part of NSE. Just check these links :

http://www.nseindia.com/supra_global/content/dotex/dotex_kra.htm

https://www.nsekra.com/Launch/kra_about_us.aspx

 

[rkkarnani]

What kind of charts are you displaying on your blog/site. Show some examples.

if what you are saying is true , then traderji website will be shutdown, lol. so something is amiss.

Just my $0.02 : Dotex must be having objection to the Sites showing Real Time Charts of NSE and not the IEOD/historical charts !

 

[rkkarnani]

Dotex, which provided data and info-vending services of NSE, have been sending the following emails to a lot of website owners, who show technicals and charts etc. on their websites:

"We have observed that you are utilising National Stock Exchange of India Ltd. (NSE) data in your website/software, in this regard, you are advised to let us know from where you are sourcing the data. We would also like to bring to your notice the fact that such usage or display of the NSE data without entering into contract and paying the prescribed fees to DotEx International Limited (which is a 100% subsidiary of NSE handling the data info-vending services of NSE) is legally not allowed.

In this regards, we recommend that you to enter into an agreement and pay the subscriptions fees to DotEx with immediate effect and in the mean time stop the usage/ display / redistribution of the data with immediate effect.

You are hereby called upon to kindly show cause, within Five (5) working days from the date of this intimation, to present your case else we reserve our rights to institute appropriate proceedings under applicable laws at your risk as to cost and consequences, Please note."

Can any learned member here throw light as to how showing technicals on websites (like 200 DMA, breakout stockes and their prices, charts etc.) can be considered be illegal? There are hundreds of data feed providers in the market. Are all of them illegal?

Most of the Data Feed providers in the Market are indeed "illegal" ! They are mining data from trading terminals and distributing through Servers.

I think, and I may be wrong : Their (Dotex) objection would be for display of RT charts using NSE data and not historical data/eod data or IEOD Data !

 

[throwawayacc123]

Just my $0.02 : Dotex must be having objection to the Sites showing Real Time Charts of NSE and not the IEOD/historical charts !

How do they know where the feed is coming from.

I could have a website that could get real time quotes/data from my trading terminal and display it on my website.