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11 changes: 10 additions & 1 deletion CLAUDE.md
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Expand Up @@ -614,7 +614,16 @@ anything that matches. Reconcile the rest by hand -- and check the sibling
`styles.module.css` separately, because a component and its stylesheet drift
independently.

Twelve customised swizzles and four of our own remain.
Eleven customised swizzles and four of our own remain.

`src/theme/DocItem/Paginator` was the twelfth, and it was not customised: it
was the 3.0.1 file, which the classification above misread as a change because
upstream had since ADDED `className="docusaurus-mt-lg"` to it. That class is
the only space between the article and the next/previous cards. It went
unnoticed while the tag footer, which carries the same class, rendered above
the cards; retiring the tags on 2026-09-04 left every page with a 0px gap.
Deleted on 2026-10-23. **A swizzle that differs from upstream only by
upstream's newer lines is stale, not customised.**

## `future.v4` is on, and one flag needed a counterweight

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4 changes: 3 additions & 1 deletion account/data-policies/data-redistribution.md
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Expand Up @@ -21,7 +21,9 @@ The single-IP restriction is one enforcement mechanism for this policy. See [Sin

## Commercial Redistribution

Redistribution is permitted, but it requires a license granted directly by the exchanges — not by Market Data. Market Data cannot authorize redistribution on behalf of an exchange. If your use case involves distributing data to others, contact our sales team and we will connect you with the appropriate exchanges to get the required licenses in place.
To display market data to the users of your own app, dashboard, or product, use the [Commercial Plan](/docs/account/plans/commercial/). It includes a business-wide commercial license with display rights, and there are no exchange agreements to sign, no exchange fees, and no per-user fees.

For dedicated exchange feeds, API distribution to other businesses, or resale rights, [contact us](https://www.marketdata.app/contact/) about enterprise licensing.

## Violations

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2 changes: 1 addition & 1 deletion account/data-policies/professional-status.md
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Expand Up @@ -4,7 +4,7 @@ description: Market Data self-service plans serve non-professional subscribers o
sidebar_position: 4
---

All Market Data self-service plans are available to **non-professional subscribers only**. Exchange rules require vendors to classify and certify the status of every subscriber who receives real-time market data. It is your responsibility to subscribe under the correct classification. Business use of market data is only available under a commercial plan.
All Market Data self-service plans are available to **non-professional subscribers only**. Exchange rules require vendors to classify and certify the status of every subscriber who receives real-time market data. It is your responsibility to subscribe under the correct classification. Business use of market data is only available under the [Commercial Plan](/docs/account/plans/commercial/), which includes real-time stock and options prices with no exchange licensing and no exchange fees.

For a full explanation of how the exchanges define professional status and how to determine your own classification, see [Professional Status Explained](https://www.marketdata.app/education/stocks/professional-status-explained/).

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2 changes: 1 addition & 1 deletion account/data-policies/single-ip.md
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Expand Up @@ -31,7 +31,7 @@ If your account has been blocked, see [403: Multiple IP Addresses](/docs/api/tro

## Commercial Use and Multi-Device Access

The single IP policy applies to all standard subscription plans. If your use case legitimately requires API access from multiple IP addresses simultaneously — for example, distributed systems or serving data to multiple users — this constitutes redistribution and requires a commercial license. Please contact sales to discuss licensing options.
The single IP policy applies to all self-service plans. The [Commercial Plan](/docs/account/plans/commercial/) has no IP limit: if your use case requires API access from multiple IP addresses simultaneously — for example, distributed systems or serving data to multiple users — the Commercial Plan lets you call the API from as many servers and IP addresses as your product needs. For needs beyond the Commercial Plan, [contact us](https://www.marketdata.app/contact/) about enterprise licensing.

## Violations

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116 changes: 54 additions & 62 deletions account/plans/commercial.mdx
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@@ -1,92 +1,84 @@
---
title: Commercial Plan
unlisted: true
description: Market Data's commercially-licensed plan for businesses, indie developers, and apps that distribute derived data to end users.
description: Real-time, historical and tick-level stock and options data with a commercial license, and no exchange licensing, exchange fees or per-user fees.
sidebar_position: 8
---

import Head from '@docusaurus/Head';

<Head>
<meta name="robots" content="noindex, nofollow, noarchive, nosnippet" />
</Head>

The **Commercial Plan** is the most common starting point for businesses launching an app, dashboard, or product on top of Market Data. At **$250/month** it's the most affordable commercially-licensed market data subscription on the market — and it includes a generous package of data that you can redistribute to your end users under our [Commercial Use Addendum](https://www.marketdata.app/terms/commercial-use-addendum/). It's enough to get a product to market, on budget, with the option to add exchange licensing later as your business grows.
The **Commercial Plan** gives your business real-time, delayed, historical, and tick-level market data for stocks and options, together with a commercial license to display it to your users — all for one price, starting at **$333/month**. There are no exchange agreements to sign, no exchange fees, and no per-user fees.

## Pricing

**$250/month** — month-to-month billing only. The Commercial Plan does not offer an annual billing option.

## What You Get with the Commercial Plan

- **Commercial Use License**: The only Market Data plan that permits business and commercial use of our data, governed by our [Commercial Use Addendum](https://www.marketdata.app/terms/commercial-use-addendum/).
- **No Daily API Credit Limit**: Use our API as much as your application needs, with no daily cap.
- **100,000 Credits Per Minute**: A generous per-minute rate limit suited to production workloads.
- **50 Concurrent Requests**: Run requests in parallel to keep latency low under load.
- **Real-Time SmartMid Stock Prices**: Get current-day real-time stock prices on the [`/stocks/prices`](/api/stocks/prices) endpoint via our proprietary **SmartMid** model — a Market Data product that you can redistribute to your end users under our Commercial Use Addendum. **SmartMid is the only real-time data source included on the Commercial Plan.**
- **Historical Data, Full Depth**: Full historical access on every endpoint — stocks, options, and more — for backtesting, analytics, and historical charts.
- **Premium Endpoints**: Full access to all premium endpoints, including fundamentals and earnings data.

### Exchange Data Is Historical Only
**$333/month to start, billed quarterly.** The price steps up twice during the first year, then stays fixed:

The Commercial Plan does **not** include any real-time exchange data. All exchange-sourced data — stock bid/ask quotes, daily and intraday candles, options chains and quotes, all of it — is delivered **historical only**, available starting from the **T+1 session** (today's session becomes available the following session).
| Months | Monthly Price | Billed Each Quarter |
|-----------|---------------|---------------------|
| 1–6 | $333/month | $999 |
| 7–12 | $666/month | $1,998 |
| 13 and on | $999/month | $2,997 |

The single exception is **SmartMid stock prices**, which are real-time because SmartMid is our own derived product and not exchange data.
The price includes the commercial license. There are no exchange fees and no per-user fees on top of it, however many users your product serves.

This is what keeps the plan affordable and lets you redistribute data to your end users without additional exchange paperwork. When your business is ready, exchange licensing can be added on top of your Commercial Plan — see [Why SmartMid Instead of Exchange Real-Time?](#why-smartmid-instead-of-exchange-real-time) below.
Every Commercial Plan starts with a **14-day free trial**, with no charge until the trial ends, and there is no long-term contract. [Contact us](https://www.marketdata.app/contact/) to get started.

## Who the Commercial Plan Is For
## No Exchange Licensing, No Extra Fees

The Commercial Plan is the entry point for businesses bringing a product to market on top of Market Data. Common use cases include:
A business that shows market data to its users usually has to sign agreements with each exchange, pay monthly exchange fees, and pay again for every user who sees the data. Those costs grow with every user you add, and the paperwork comes before you can launch.

- **Stock and options apps** that display data to paying users
- **Financial dashboards** distributed to clients or employees
- **Research products and newsletters** that publish data-driven content
- **Charting and analytics tools** built on historical data
- **Internal business analytics** at firms that need market data for internal use
The Commercial Plan removes all of it. Real-time prices, delayed exchange data, historical data, and tick-level data all come under one license, at one price. You sign nothing with the exchanges, you pay no exchange fees, and you pay nothing more as your user base grows — so your data costs stay the same whether your product has ten users or ten thousand.

Most businesses start here when launching and add exchange licensing later, as their product matures and their budget grows.

If you're an indie developer **still in development** and not yet charging users or distributing data, you can build on the [Starter Plan](/account/plans/starter) until you're ready to launch. Once you go live with a commercial product, the Commercial Plan is your next step. See our guide on [how stock market data licensing works](https://www.marketdata.app/education/stocks/stock-market-data-licensing) for background.

### Not Suitable for Trading
## What You Get with the Commercial Plan

The Commercial Plan is **not suitable for trading applications** or any product where users make execution decisions based on the data. SmartMid is a derived midpoint price — useful for display, charting, and informational purposes — but it is not a live bid/ask quote and should not be used to determine trade prices, route orders, or trigger execution logic. Trading platforms and order-routing tools require real-time exchange data, which means direct exchange licensing. [Contact our sales team](https://www.marketdata.app/contact/) to discuss licensing options for trading use cases.
### Data

## Redistribution Rules
- **Real-Time Stock Prices**: Real-time derived prices that closely track exchange prices, with last price, open, close, volume, and pre-market and post-market volume.
- **Real-Time Options Prices**: Real-time derived options prices, with implied volatility and the greeks — delta, gamma, theta, and vega.
- **WebSocket Streaming**: Stream real-time stock and options prices over WebSocket, or request them over the REST API.
- **Tick-Level Market Data**: Market data down to the individual tick.
- **15-Minute Delayed CBOE Data**: Exchange data from CBOE on a 15-minute delay.
- **End-of-Day and Historical Data**: End-of-day and historical data for stocks and options, for backtesting, analytics, and historical charts.
- **US Fundamentals**: Fundamentals data for US companies.

The Commercial Plan permits you to **distribute your own derived data** through your application — including via your own API — but does **not** permit redistributing Market Data's raw API responses. In other words:
### Rights

- ✅ You can build a UI, dashboard, or product that displays Market Data's data to your users.
- ✅ You can compute derived metrics, signals, or aggregates from our data and serve those to your users (including over your own API).
- ❌ You cannot resell or proxy our raw API responses to your customers.
- **Commercial Use and Display Rights**: A business-wide commercial license. Use the data across your business and display it to the users of your app, dashboard, or product.
- **No Exchange Licensing**: No exchange agreements to sign and no exchange paperwork.
- **No Exchange Fees or Per-User Fees**: One price, however many users see the data.
- **No IP Limit**: Call the API from as many servers and IP addresses as your product needs.

If you're looking to offer a market data API to other businesses, you'll need direct exchange licensing — which the Commercial Plan does not provide. [Contact our sales team](https://www.marketdata.app/contact/) if you'd like to discuss your use case.
### Tools and Limits

## Why SmartMid Instead of Exchange Real-Time?
- **AI Assistant Access**: Connect Claude, ChatGPT, and other AI assistants to the data through an MCP server.
- **Rate Limits**: 2,000 API calls per minute, 1 request per minute for bulk downloads and paging, and 3 WebSocket connections.

Real-time data sourced directly from exchanges has its own [licensing requirements](https://www.marketdata.app/education/stocks/stock-market-data-licensing) that apply on top of any data subscription. By using SmartMid for real-time prices, the Commercial Plan keeps the cost of launching low — most businesses don't need exchange licensing on day one.
## What You Can Build

**SmartMid** is our own proprietary derived midpoint price. Because it's a Market Data product rather than exchange data, your application can deliver SmartMid prices to any end user under our Commercial Use Addendum.
The Commercial Plan is made for businesses bringing a product to market on top of market data:

When your business is ready to add real-time exchange data — bid/ask quotes, intraday candles, or real-time options — exchange licensing can be added on top of your Commercial Plan. [Contact our sales team](https://www.marketdata.app/contact/) when you're ready.
- **Stock and options apps** that display real-time and historical data to paying users
- **SaaS and fintech products** built on top of the data
- **Financial dashboards** distributed to clients or employees
- **Research products and newsletters** that publish data-driven content
- **Charting and analytics tools** built on real-time, historical, and tick-level data
- **Internal business analytics** across your whole company

## Comparison with Other Plans

| Feature | Starter | Trader | Prime | **Commercial** |
|-------------------------|---------------|---------------|---------------|--------------------------|
| Price | $30/mo | $75/mo | $250/mo | **$250/mo** |
| Commercial Use License | ❌ | ❌ | ❌ | ✅ |
| Daily API Credits | 10,000/day | 100,000/day | Unlimited | Unlimited |
| Per-Minute Rate Limit | No Limit | No Limit | 100,000 | 100,000 |
| Concurrent Requests | 50 | 50 | 50 | 50 |
| Real-Time Stock Prices | Exchange data | Exchange data | Exchange data | SmartMid (derived) |
| Real-Time Exchange Data | ✅ | ✅ | ✅ | ❌ (T+1 historical only) |
| Real-Time Options | 15-min delay | Real-time | Real-time | ❌ (T+1 historical only) |
| Premium Endpoints | ✅ | ✅ | ✅ | ✅ |
| Historical Data | 5 Years | Full Access | Full Access | Full Access (T+1) |
| Feature | Starter | Trader | Prime | **Commercial** |
|--------------------------------|---------|--------|---------|----------------------|
| Price | $30/mo | $75/mo | $250/mo | **$333/mo to start** |
| Commercial Use | ❌ | ❌ | ❌ | ✅ |
| Public Display to Your Users | ❌ | ❌ | ❌ | ✅ |
| Redistribution in Your Product | ❌ | ❌ | ❌ | ✅ |
| WebSocket Streaming | ❌ | ❌ | ❌ | ✅ |
| Tick-Level Market Data | ❌ | ❌ | ❌ | ✅ |
| Multiple IP Addresses | ❌ | ❌ | ❌ | ✅ |

## Why Choose the Commercial Plan?

The Commercial Plan is where most businesses start. At **$250/month**, it's the cheapest commercially-licensed market data subscription on the market — and it's enough to launch a real product, with real-time SmartMid stock prices, full historical depth, no daily credit caps, and generous concurrency. Add exchange licensing later, when your business is ready for it.
The Commercial Plan is the simplest way to launch a product on market data. One price covers real-time stock and options prices over REST and WebSocket, tick-level, delayed, and historical data, and the commercial license to display all of it — with no exchange agreements, no exchange fees, and no per-user fees as you grow. It starts at **$333/month, billed quarterly**, with a 14-day free trial.

[Contact us](https://www.marketdata.app/contact/) to get started or to discuss your specific use case.

## Need More?

The Commercial Plan is sold through our sales team. [Contact us](https://www.marketdata.app/contact/) to get started or to discuss your specific use case.
For dedicated exchange feeds, API distribution to other businesses, or resale rights, [contact us](https://www.marketdata.app/contact/) about enterprise licensing.
2 changes: 1 addition & 1 deletion account/plans/index.mdx
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Expand Up @@ -5,7 +5,7 @@ slug: /plans
sidebar_position: 2
---

Market Data provides a varity of data subscriptions for users who need on-going access to Market Data. Explore the details of all our plans and decide which one is right for you.
Market Data provides a variety of data subscriptions for users who need on-going access to Market Data. Explore the details of all our plans and decide which one is right for you.

## Explore our Plans

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2 changes: 1 addition & 1 deletion account/troubleshooting/classification-dispute.md
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Expand Up @@ -31,7 +31,7 @@ If you plan to use market data in connection with a business — including a sta

Any use of data to support a business function — such as building a product, providing a service, generating reports for clients, or integrating data into an application — is classified as professional. This includes personal LLCs, even single-member pass-through entities.

Non-professional plans are for **personal, non-commercial use only**. If you need data for a business, you will need a commercial or exchange license. [Contact our sales team](https://www.marketdata.app/contact/) to discuss licensing.
Non-professional plans are for **personal, non-commercial use only**. If you need data for a business, the [Commercial Plan](/docs/account/plans/commercial/) is made for business use. [Contact our sales team](https://www.marketdata.app/contact/) to get started.

### Job Function Suggests Professional Use

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2 changes: 2 additions & 0 deletions account/troubleshooting/self-employed.md
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Expand Up @@ -64,6 +64,8 @@ If your business is in a non-financial field (e.g., construction, healthcare, re

Professional subscribers never receive real-time exchange data on a self-service plan, no matter which exchange agreements they sign. Real-time access for professional use requires direct exchange licensing, which Market Data arranges individually. [Contact our sales team](https://www.marketdata.app/contact/) to discuss it. Delayed / historical data access remains available on your current plan, depending on the data policies of each exchange.

If your business uses market data in a product or service, the [Commercial Plan](/docs/account/plans/commercial/) is made for it: real-time stock and options prices with a commercial license, and no exchange licensing or exchange fees.

## Still Need Help?

If you are unsure how your business would be classified, please contact our [support helpdesk](https://www.marketdata.app/dashboard/) and describe what your business does. Our support team will let you know what classification applies and what documentation, if any, is needed.
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