Exchange Agreements are end-user agreements with the stock exchanges that govern your use of their market data.
If you wish to add unlimited real-time market data to your subscription you will first be required to agree to any applicable Exchange Agreements. These are online "click-on" agreements that will be presented to you at the time you subscribe.
If you are a Professional user, some stock exchanges require you to complete a written agreement and return it by mail or fax to Stockwatch.
Exchange Fees are established by the stock exchanges for access to their real-time market data.
If you wish to add unlimited real-time market data to your subscription you will be required to pay any applicable Exchange Fees. Stockwatch collects these fees from you and then remits them to the stock exchanges on your behalf.
If you are a Professional user, some stock exchanges will bill you directly.
Exchange Fees are set by the stock exchanges, not by Stockwatch. Exchange Fees are listed along with Real-Time Market Data Fees .