Terms Specific to Market Data provided by Chicago Mercantile Exchange Inc. (“CME”).
If Client’s service includes Market Data provided by CME, the following additional terms apply:
- CME Market Data Policies, which CME may modify from time to time, are incorporated into this Agreement by reference and shall be binding on Client to the extent that Client receives CME Market Data.
- Clients may not redistribute CME Market Data (or derivative works based on or using CME Market Data) to third parties. CME reserves all rights to determine whether any form of CME Market Data redistribution by Client may be allowed.
- All uses of CME Market Data by Client shall be identified, processed and measured in accordance with CME Market Data Policies.
- Clients accessing CME Market Data for Business Use may not distribute CME Market Data to third parties outside Client’s Group in any manner except as set forth in the CME Market Data Policies, which CME may modify from time to time. “Business Use” shall mean all use of CME Market Data that is not Private Use, including, without limitation, any use by natural persons who redistribute even limited extracts of CME Market Data or use CME Market Data for any commercial purpose other than the management of their own personal investments. “Private Use” shall mean the use of CME Market Data by a Client who is a natural person for the purpose of managing Client’s own private investments and not for any business purpose, nor for the purpose of giving advice to any other person. “Client’s Group” shall mean Client and any related entities that Client controls, is controlled by, or is under common control with,” and who receive CME Market Data directly or indirectly from Vela under the terms of a Market Data Subscriber Agreement).
- Client must credit CME and its licensors as the source(s) of the CME Market Data, using the following legend or such other legend as Vela or CME may provide to Client from time to time: “The market data is the property of Chicago Mercantile Exchange, Inc. and its licensors. All rights reserved."
- Client must maintain all records and provide all information required by Vela and its Affiliates to meet Vela’s and its Affiliates record-keeping, reporting and payment obligations to CME.
- Client shall obtain and provide any consents needed for CME or any auditors acting on behalf of CME to review and receive Personal Data, where necessary for the purposes of verifying or ensuring compliance with Vela’s obligations to CME. “Personal Data” shall mean personal data relating to Users (being a natural person authorized by a member of Client’s Group to receive and use CME Market Data, subject to the terms and conditions of this Agreement). Each Client shall be responsible for the use of CME Market Data by Users and any members of Client’s Group, and shall cause the same to comply with the terms hereof.
- CME reserves the right at CME’s sole discretion, on application by Vela or in the context of a direct agreement between CME and Client, to extend the definition of “Client’s Group” in the case of individual Clients to include members of co-operative or professional associations or other corporate structures that function commercially as a single group.