Licensing Siblis data for your own product
A subscription licenses our data for your use. If the people who will see the figures are your users — an application, a platform your customers log into, a public website, a publication, your own API — that is redistribution, and it is licensed separately.
It is a separate agreement, not a refusal. We write these regularly. This page explains what is covered, how it is priced and what every licence carries, so that you can work out whether to email us before you spend time on it.
The line is not about who you are, it is about who sees the numbers. A subscription covers everything you do inside your own organisation, including work you deliver to your own clients. A redistribution licence covers the data reaching an audience.
| What you are doing | Subscription | Redistribution licence |
|---|---|---|
| Research, models and analysis inside your own firm | ✓ | |
| A report or presentation prepared for a client of your firm | ✓ | |
| Citing figures in published research, with attribution | ✓ | |
| Showing the data inside an app or platform your customers use | ✓ | |
| Charts or tables on a public website or marketing page | ✓ | |
| A newsletter, research note or terminal sold to subscribers | ✓ | |
| A book, textbook, course or course materials | ✓ | |
| Powering your own API, feed or data product | ✓ | |
| Training or fine-tuning a model on the data | ✓ |
If your case sits on the boundary, ask. The answer is usually quick and it is usually yes.
The Global Equity Valuations Database, in whole or in part. Licensing a slice is normal and often cheaper than you would expect — a product covering one market does not need seventy.
| Ratios | Trailing and forward P/E, CAPE, price to book, dividend yield and EV/EBITDA |
|---|---|
| Coverage | 47 country and regional indices and the eleven equity sectors, 91 series in all |
| History | The longest series runs from 1970; each market begins when its own data does |
| A subset | A single market, a single sector, a single ratio, or a date range — licensed on its own |
| Delivery | JSON API, a monthly file, or bulk CSV. Whichever fits how you build |
The historical index constituents database is not available for redistribution licensing. It is sold as a subscription or a one-off licence for your own research only.
If you are building an assistant, an agent or any retrieval-backed product, the problem you have is that a language model will confidently invent a CAPE ratio. It needs an authoritative source to call at the moment it answers.
That is what the API is for, and putting it behind your product is a redistribution licence.
- Retrieval and RAG. Your assistant queries the API when a question needs a real figure, rather than relying on whatever the model absorbed in training.
- Agents and tool calls. The endpoints are plain JSON over HTTPS, so they work as a tool definition with no adapter in between.
- Grounding and citation. Every figure carries its date and its index, so your product can show the reader where the number came from — which is the part users actually ask for.
Training a model on the data is a separate question, and it is licensed individually rather than bundled. Tell us what the model does and whether the figures can be reproduced from its output, and you will get a straight answer.
Priced on the product, not on seats. A redistribution licence is a commercial agreement, and the number depends on what you are building rather than on how many people at your company touch it. The variables we ask about:
- How much of the database you need — all of it, or a slice.
- Reach — roughly how many end users will see the figures.
- How the data appears — displayed on screen, or downloadable by your users, which is a
- different thing and priced differently.
- Whether it sits behind a paywall in your product.
- Term, normally annual and renewable.
We do not publish a rate card, because a licence for a textbook and a licence for a trading platform are not the same agreement and a single number would be wrong for both. What we do instead is answer quickly: describe the product and you will get a figure, not a discovery call.
Every redistribution licence carries the same four conditions, whatever the size of the deal.
- Attribution. The source is named where the figures appear, with a link to siblisresearch.com. Every number we publish is calculated in-house rather than resold from a feed, and attribution is how that stays visible. This is not negotiable on a standard licence.
- Point-in-time integrity. Historic readings are published as they stood and are not restated. A licensee may not amend the history and continue to attribute it to us.
- No onward sublicensing. The licence covers your product and your users. It does not let you license the data on to someone else.
- Named product. The agreement names the product or products the data appears in. Adding another is a conversation, not a breach.
The data you would be licensing
It is used in peer-reviewed journals, central bank working papers and the financial press. The methodology behind every figure is published.
Do I need a licence to use the free figures on your data pages?
No. The current readings and the ten year-ends published on the data pages are free to reuse with attribution, including commercially. If that covers what you need, take it and build — no agreement, no email.
A licence is for the parts a web page cannot carry: the complete history, every index in one file, every trading day, and the API.
What does attribution have to look like?
Visible where the figures appear, naming Siblis Research, with a link to siblisresearch.com. On a chart that usually means a source line; in an application, a line in the data or methodology panel. We are not prescriptive about the wording and we will tell you if a proposed treatment is not enough.
Can I license one market, or one ratio?
Yes, and it is a common request. A product covering Japan does not need seventy markets, and a tool built around CAPE does not need EV/EBITDA. Subsets are priced accordingly.
Can I license the historical index constituents data?
Not for redistribution. That database is available as a subscription or a one-off licence for your own research, on its own page, but it is not licensed for you to show to your users.
Can I use the data to train a model?
That is a redistribution question rather than a subscription one, and it is licensed individually. Tell us what the model does and whether the figures can be reproduced from its output, and we will give you a straight answer.
How long does this take?
You will normally get a reply within one business day and a figure in the same message if the product is clear. Agreements are short — a few pages, not a negotiation cycle.
Is there a minimum term?
Annual, renewable. For a publication with a fixed print run rather than an ongoing product, a one-off licence is usually the right shape instead.
We are an academic or non-profit publisher.
Say so. The terms are different, and for genuine academic use they are often very light.
Email sales@siblisresearch.com and include three things:
1. What the product is — a sentence is enough. 2. Roughly how many end users will see the figures. 3. Which markets and ratios you need, if you do not need all of them.
That is everything required to quote. If you would rather talk it through first, say so and we will find a time.