证券交易即时行情数据的权利归属--以权利性质为基点  

Research on the Ownership of Rights to Real-time Market Data of Securities Transactions--Based on the Nature of Rights

作　　者：苏瑜悦 SU Yuyue(Civil,Commercial and Economic Law School,China University of Political Science and Law Beijing 102200)

机构地区：[1]中国政法大学民商经济法学院,北京102200

出　　处：《中国商论》2022年第4期93-98,共6页China Journal of Commerce

摘　　要：我国新修订的《证券法》明确了即时行情数据权利由证券交易所享有。即时行情数据因具有无体性、机器生成性、匿名性等特点,目前将之认定为物权、商业秘密、著作权、邻接权的理论均存在缺陷,故不可据此界定其权属。作为新兴理论方向的数据生产者权利制度可满足对即时行情数据的制度化保护需求,而且据此将权利赋予证券交易所适应于经济学规律,可实现数据利用的效率最大化,并可通过配套的立法平衡各相关方利益。China’s newly revised Securities Law makes it clear that the right to real-time market data is enjoyed by the stock exchange.Real-time market data has some defects in the theories of property right,trade secret,copyright and neighboring right,so its ownership can not be defi ned accordingly because of its characteristics such as intangible feature,machine generation,anonymity and so on.As a new theoretical direction,the data producer rights system can meet the demand of institutionalized protection of real-time market data,and according to this,the rights can be given to the stock exchange to adapt to the economic law,and the effi ciency of data utilization can be maximized;the interests of all parties can be balanced through corresponding legislation.

关 键 词：权属 数据权利 即时行情 证券交易所 

分 类 号：F832.5[经济管理—金融学]