In case you do not know what NSEAPI is about, it is the Nigerian Stock Exchange API - a website that I developed to allow people plugin their application to get DATA about the Nigerian Stock Market.
The website gets almost real-time information by crawling public data from several websites the same way google and other search engine does.
But it now presents a very clean interface, even with history about many sections of the Nigerian stock exchange API.

This project went through many phases, but was never moneytized. In fact, it was used by quite a good number of Nigerian companies for their websites and mobile apps.

However, just before the plan for moneytization was completed. Nigerian Stock Exchange lawyers were all after me, claiming that I was violating their policy because I am not a LICENSED DISTRIBUTOR OF NSE - I could not carry on with my service.

As a result of this, I have to shutdown my services of Nigerian Stock Exchange API, possibly permanently, since I do not have the power to fight NSE.

your pm wasn't working I also wanted to ask about it

Eeyah!!!
Some people want to chop on top your head

The other side of it was that their marketing team wanted me to start paying 1.2m/annum in order to maintain my services. And this does not make sense, why do I need to become a licensed vendor for that amount when I already have the algorithm for getting the data that I needed?

And this same data is exposed to all good search engines, because technically what gets the DATA for me is a search engine algorithm i developed while studying how google works.

But well, I just leave it for God - like we say in Nigeria.

but maybe if you negotiate with them that from money you make there you will be giving them like 5 or 10%. But are those data not public data ?

All the data used by my public API are classified as public data - I did not go behind any login screen or hack any data, and did not even have any insider providing me with any links or any information at all.
However, the argument of NSE is that the DATA contains information belonging to them, that it is an intellectual property, so it does not matter how I get it. What matters is that I am not licensed to distribute/re-distribute their data.

disco82:
but maybe if you negotiate with them that from money you make there you will be giving them like 5 or 10%. But are those data not public data ?

Are you sure you read my earlier post before writing this - that they refused to negotiate, and said i must be a data vendor, and that i must pay 1.2m/annum to get the data i was distributing. Did you also read where i posted that I have not started making money from it since i have not moneytized it yet.

Bro, is well....

We Nigerians will always find a way of hampering our progress.

No amount of blanket can cover or stop the sun from shining.

People like o2series make millions from distribution of videos they didn't create. But you know Nigerians have no chill. Am sure dhtml will do the same if he was the authority at NSE

^^^^what? what? what? If i was the one, i will just employ the dude that was able to get our data like that. And probably block the security loophole with the aid of my IT team if there was one (but there was none sha, because i did not hack their website).
And google has those DATA too, as far as I know - because my own crawler is not as powerful as google crawler.

dhtml18:
^^^^what? what?? what If i was the one, i will just employ the dude that was able to get our data like that. And probably block the security loophole with the aid of my IT team.

Do you want to work with NSE? Or make u a contractor? I thought you were a contender for African Mark Zuckerberg (not attacking you sha). Am starting to like your work.

And hey, from your first post it's not actually a security loophole right? You crawled public data.

You are just trollin' on a serious thread. I will stop responding to you at this point before i SLAM you out of troll-anger.

dhtml18:
You are just trollin' on a serious thread. I will stop responding to you at this point before i SLAM you out of troll-anger.

Seriously? What's not trolling?

directonpc:

Seriously? What's not trolling?

Did you read where I said a LEGAL ISSUE was involved, that is not a laughing matter seriously, you have dissapointed me for the first time.

I have said all I wanted to say on the issue, this thread is not to seek justification (or retribution). It is just to create an awareness for those that are using the service to understand why the service is no more.

Disclaimer: I know there are people that work in NSE here, so I wont say too much, this is as much information I wish to expose to the public on this matter.

dhtml18:

Did you read where I said a LEGAL ISSUE was involved, that is not a laughing matter seriously, you have dissapointed me for the first time.

I have said all I wanted to say on the issue, this thread is not to seek justification (or retribution). It is just to create an awareness for those that are using the service to understand why the service is no more.

Disclaimer: I know there are people that work in NSE here, so I wont say too much, this is as much information I wish to expose to the public on this matter.

Disappoint? What is your definition of a forum?
I know it's a legal issue, like movie download site is also a legal issue. Just that the concerned party didn't send any lawyer to chase anybody.

Your solution was innovative and could change how NSE works but too bad they killed it.
(e.g: Mobile movie sites changed how we watch movies)

^^^Now you are talking seriously, because it is indeed a serious matter.

No, i was given conditions of either being a vendor or shutting down - so i shut down because the conditions were too steep.
How can I pay 1.2m/annum for a product that I have not started charging for?

There are other websites that does similar service to my NSEAPI, but they claimed all those other vendors had to come through them and pay them a fee TO GET DATA AND DISPLAY THE DATA.

Now, I already had an algorithm for getting the data i need, so now i had to pay them 1.2M/ANNUM - for what now?

Nigeria Nawa ooo!!!
I observed that the API wasn't working anymore when I tried training my Bayez Learning Machine. I dunno what to say, so I wont comment

Shutting down may not be best. You negotiate all the terms, not just the money.

What I mean?
Consider the data you already have access to. Consider the additional privileges you may get after paying 1.2m. Now, also consider what you can get from all the two above. Then do a cost-benefit analysis. If you can make use of their allowed data in a more profitable way, then, you are good to go.

The problem here is not just the charges of 1.2m. Its the fact that your venture is not profitable enough, at least yet.

So, you may reverse your steps, see if you can get more.

Need more? You know where to get me. #bestnaija

Or why don't just give them a big f--k you!?

They are not ready to NEGOTIATE ANY TERMS on this matter. You know how stereotyped these people can be. Anyway, I have moved into another startup and do not honestly have time for this NSE and their WAHALA again.
This thread is just for the former NSE users to know what happened behind the scene.

**cough**

How did you get the realtime data?? Are you working with an insider??

That can be a federal offence ohhhhh.

Abeg leave this matter, let us move on to https://www.nairaland.com/3406940/most-popular-programmer-nairaland-2016

nice