On Aug. 13, BVMF reported update and availability of policies.
BVMF published Circular Letter 036/2026-PRE announcing the availability of the updated versions of the Consumer and Commercial Market Data Policies.
Market Data Policy
New Market Data licenses distinguish Direct and Indirect Access and introduce a Managed Services Provider (MSP) license.
Personal data processing provisions have been added, with corresponding updates to Annexes I and II.
Restrictions on open website distribution have been relaxed, allowing continuous delayed and snapshot data.
The Business policy introduces new licenses and consumption applications, along with revised classification and reporting rules for Operations and Technology Professionals.
A location-based classification has been introduced for Enterprise-reported Professional Non-Display applications.
Annex II outlines the regulations superseded by the new Market Data policies.
Effectiveness
New policies will become effective as of Nov. 1, 2026.
