OTC Markets


Duetsche Boerse

Abu Dhabi Securities Exchange 

Athens Stock Exchange 

Australian Stock Exchange

Budapest Stock Exchange 

Canadian Securities Exchange

Egyptian Stock Exchange

Hong Kong Stock Exchange

Indonesia Stock Exchange

Irish Stock Exchange 

Istanbul Exchange 

Johannesburg Stock Exchange 

Korean Stock Exchange 

Meff Renta Variable Exchange 

Mexican Stock Exchange

Moscow Futures and Options 

National Stock Exchange of India

Nagoya Stock Exchange


Osaka Exchange 

Pakistan Stock Exchange 

Philippine Stock Exchange 

Prague Stock Exchange 

Qatar Exchange 

Saudi Stock Exchange 

Shanghai Stock Exchange

Singapore Stock Exchange 

Stock Exchange of Thailand 

Taiwan Futures Exchange 

Tel Aviv Stock Exchange 

Tokyo Stock Exchange 

Vienna Stock Exchange 

Warsaw Stock Exchange 

NYSE and HKE require an external auditor acceptable to the exchanges to perform audits for quote meters, indirect billing or MISU policies.  The initial audit is performed within the first 90 days of service.  The next audit will be due the following calendar year and every 2 years after that. MDMS has been an authorized external auditor for over 15 years.  We are ready to perform this required function for you. 

Stock exchanges were originally owned by its member stock brokers.  The main revenue sources were listing and trading fees. In 1998, stock exchanges started to restructure as corporations.  In 2018, there were 15 stock exchange licenses issued in the United States, 13 of these exchanges actively traded securities. All of these exchanges were owned by three publicly traded multinational companies, ICE, Nasdaq, and Cboe, except one, IEX. Market data became a significant percent of revenue as exchanges needed to start to focus on the price of its shares.


Compliance audits became a significant revenue source within market data.  Understanding and managing all of the terms and conditions include in any exchange market data policy document is not an easy task.  The exchanges know this.  Not every company has the time or resources to properly focus on market data management.

If you have not been contacted by an exchange in the past 6 months for a remote or onsite audit, you will.  MDMS can be there to help guide you through the process and provide our expertise in managing potential fee liabilities.

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Audit Support

We Take The Stress of Audits Away From You

Our team has a proven track record of reducing your workload and producing favorable results

We Make Market Data Work For You


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