Terms Specific to Market Data provided by Deutsche Borse AG (“Deutsche Borse AG”).
If Client’s service includes Market Data provided by Deutsche Borse AG, the following additional terms apply:
- For purposes of this Section 6, the following definitions apply:
- “Access ID” means personal identification which enables a particular User to access Deutsche Borse AG Market Data received from Deutsche Borse AG or Vela and which simultaneously represents a Unit of Count;
- "Close User Group” means a group of private individuals or employees of a business entity granted access to the Deutsche Borse AG Market Data by Vela via the provision of Access IDs;
- “Delayed Information” means Deutsche Borse AG Market Data which is available for use with a time delay of at least 15 minutes after its creation;
- “Honesty Statement” means a binding written or electronic statement supplied by Client to Vela containing the number of Access IDs per Deutsche Borse AG Market Data product entitled within a Closed User Group;
- “Non-Display Information Usage” means usage of Real-time Information for the creation of original created works; and/or usage of Real-time Information in electronic trading systems for the purpose of generating orders or executing transactions in an automated and/or semi-automated manner without the display of the original Real-time Information;
- “Open User Group” means a group of private individuals or employees of a business entity granted access to the Deutsche Borse AG Market Data by Vela without registration being required;
- “Physical User ID” means a Unit of Count by which the access of a User to Deutsche Borse AG Market Data via one or several Access IDs can be reported;
- “Private Individual” means a natural person that does not operate a credit institution or financial services institution; is not subject to any domestic or foreign banking, stock exchange, securities trading or investment supervision; will use the Deutsche Borse AG Market Data exclusively for his/her private purposes; and will not use the Deutsche Borse AG Market Data for business purposes or use or distribute the Deutsche Borse AG Market Data for the purposes of third parties;
- “Real-time Information” means Deutsche Borse AG Market Data which is available for use with a time delay of less than 15 minutes of its creation; and
- “Unit of Count” means a billing unit.
- The onward dissemination of Real-time Information is permitted only within Closed User Groups unless exceptions from this general rule are expressly permitted for specific Deutsche Borse AG Market Data. The onward dissemination of Delayed Information is permitted within Open User Groups, as is any specific Real-time Information that is expressly identified to Client by Deutsche Borse AG or Vela as being so permitted.
- Client shall ensure that all access to Real-time Information is controlled and recorded by one of the following Units of Count: (1) Access IDs; (2) single quote; (3) Physical User ID; (4) any other Unit of Count agreed upon in writing by the parties.
- Client shall at least on a quarterly basis provide Honesty Statements to Vela confirming the number of Access IDs entitled for the individual Deutsche Borse AG Market Data products. If the entitlement of an Access ID commences or ceases during the period which is covered by the Honesty Statement (quarter or month) then the commencement or finish date shall be shown in the Honesty Statement and taken into account in the reporting. Client shall provide Vela with the Honesty Statements until the 15th day of the month following the end of a quarter.
- If preferential fees apply to Private Individuals, then Client shall have the right to issue a written or electronically submitted statement expressly confirming that he/she satisfies all of the criteria to be considered a Private Individual.
- As of 1 April 2008 Client of Vela may conduct Non-Display Information Usage of Real-time Information only if Client has in advance entered into a separate Agreement on the Non-Display Information Usage with Deutsche Borse AG and has complied with the requirements for a Non-Display Information Usage of Real-time Information set out therein.