Turquoise Services Ltd.

Terms Specific to Market Data provided by Turquoise Services Ltd. (“Turquoise”). 

If Client’s service includes Market Data provided by Turquoise, the attached schedule 3 of the Turquoise Information License Agreement applies whereby the following capitalized terms in that schedule have the following meanings:

“Customer” means Vela;

“Subscriber” means an end user who receives Delayed Data and Real-time Data directly or indirectly from a Redistributor;

“Data” means all information provided by Turquoise;

“Charges” means those charges specified in the Turquoise Tariff Schedule;

“End Customers” means any party that is licensed to receive the Data either directly or via a Redistributor;

“Redistributor” means a Customer that redistributes Real-time Data or Delayed Data;

“Customer Materials” means any: (i) work or materials created partially or wholly from the Data, to the extent that (a) they are used or processed in such a way that does not display or incorporate any Data that can be readily identified, recalculated or engineered from the processed Data; or (b) such work or materials cannot be used as a substitute for Data as distributed by Turquoise;  and/or  (ii) proprietary information that is provided to Turquoise under the Turquoise Information License Agreement;

“Operational Controls” means the systems, rules, procedures, authorizations, and policies which, collectively, are reasonably sufficient to: (i) record and identify all authorized access to Data, and (ii) prevent any unauthorized access to Data;

“Delayed Data” means Data that is disseminated more than 15 minutes after initial dissemination by Turquoise but before midnight on the day of its original dissemination;

“Unique user id” means a unique set of logon information which controls access to Data;

“Non-Display” means the access, processing or use of Data for purposes other than displaying or disseminating such Data;

“Service Facilitator” means any party authorized by Turquoise to receive Data from the Customer for the sole purpose of facilitating dissemination of Data in the Customer’s Service in accordance with the Turquoise Information License Agreement, which may include agents of the Customer, owners or operators of websites displaying the Service, software developers, facilities managers, introducing brokers, property managers or providers of other support services; and

“Service” means the provision by Turquoise (directly or indirectly) of Data selected by the Customer through its indications in the ILA Application Form.

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