When do I need to pay market data fees?

Research and market data subscriptions are billed on a monthly cycle in advance and if you maintain a subscription for any period (even less than a full day) during the month, you will be obligated to pay as if you were subscribed for the entire month. The monthly billing cycle starts on the first U.S. business day of the month. Note that exchanges do not prorate subscription fees for mid-month elections nor do they offer refunds for subscriptions cancelled mid-month. …

Yes, if you cancel your subscription mid-month then you will receive market data until the last business day of the month. The monthly billing cycle starts on the first U.S. business day of the month.

If you subscribe and unsubscribe on the same day, you might not be charged if you never had that market data service before and did not make any trades…

Market data is provided free of charge during the US overnight trading session. 

Additional Information…

Taxes charged for market data or research subscriptions can be found as a line item in the Cash Report section of your Activity Statement in Client Portal.

Additional Information…