Terms of Use of the Online Facility

BEFORE GOING FURTHER WITH THE INSTALLATION, CUSTOMER MUST AGREE TO THESE TERMS. BY CLICKING THE ACCEPTANCE BUTTON OR ACCESSING THE SOFTWARE PROGRAM, CUSTOMER REPRESENTS IT UNDERSTANDS THIS AGREEMENT AND AGREES TO AND CONSENTS TO BE BOUND BY ALL TERMS OF THIS AGREEMENT AND TO THIS TRANSACTION BEING CONDUCTED BY ELECTRONIC MEANS, AND THE PERSON CLICKING THE ACCEPTANCE BUTTON REPRESENTS HE/SHE HAS THE AUTHORITY TO BIND THE CUSTOMER. EXANTE IS ALLOWING USE OF THE MARKET DATA AND PROPRIETARY INFORMATION IN CONSIDERATION OF CUSTOMER’S AGREEMENT TO THESE TERMS. IF CUSTOMER DOES NOT AGREE TO ALL TERMS OF THIS AGREEMENT, CUSTOMER MAY NOT ACCESS OR USE THE MARKET DATA OR PROPRIETARY INFORMATION.

This Agreement is between EXANTE and you and the company you represent if applicable (“Customer”).

1. Services

Services and Definitions

EXANTE will provide the Services to Customer pursuant to this Agreement. “Services” means providing information from exchanges and other information sources (“Market Data”) (such exchanges and sources are herein collectively, “Market Data Originators”) specified on the order from Customer accepted by EXANTE, during available transmission times, utilizing the Proprietary Information. “Proprietary Information” means software programs, protocols, displays, databases, manuals and supporting documentation, including the selection, arrangement and sequencing of the contents of the Services, provided by EXANTE, but excluding Market Data. Customer’s “User Location”, “Billing Address” and “Notice Address” are as previously provided by Customer.

Computer Specifications

In order to receive the Services Customer will provide and maintain at its expense

1. hardware and software meeting EXANTE’s minimum specifications as communicated to Customer prior to and after execution of this Agreement and
2. a User Location suitable for receiving the Services.

EXANTE is not required to maintain any of Customer’s property used in connection with the Services.

2. Term

This Agreement shall be effective as of the earlier of the date Customer first has access to the Market Data or Services or the date this Agreement is accepted by Customer. Unless terminated earlier in accordance with this Agreement, either party may terminate this Agreement by giving the other party at least 30 days advance written notice of the termination of this Agreement.

3. Market Data Compliance

Subscriber Addendum

Customer will sign and deliver all agreements (such as subscriber agreements) and other documents required by applicable Market Data Originators for receipt of Market Data. Customer will comply with subscriber agreements and applicable laws, regulations and Market Data Originator rules.

Restrictions

Customer and its employees may use the Market Data for its own internal business purposes only, and Customer will not transfer, transmit, display on any website, publish, redistribute or resell all or any part of the Services or Market Data, nor will Customer permit others to do the same or have access to the Services or Market Data. Subject to applicable limitations imposed by Market Data Originators, Customer may use limited and minor printed extracts of screen displays of Market Data in Customer’ business, if all proprietary notices including copyrights are properly included. Customer will be responsible for the persons having access to the Market Data by or through Customer and Customer will cause such persons to comply with this Agreement. Subscriber acknowledges and agrees that each of the Market Data Originators has exclusive and valuable property rights in and to its own Market Data, and that such Market Data constitutes confidential information, trade secrets and/or proprietary rights of each of the Market Data Originators. Market Data Originators retain all right, title and interest (except as otherwise licensed by the Market Data Originators) in and to the Market Data and any and all compilations thereof.

Disclosure of Customer Information

EXANTE is contractually and legally required to report certain non-public information to Market Data Originators and regulators, so Customer consents to EXANTE providing Customer’s name, addresses, telephone numbers, email addresses, account number, employee names and other required information to Market Data Originators and regulatory agencies. Customer may revoke its consent to such disclosure by EXANTE at any time, but if the consent is revoked, EXANTE may terminate this Agreement on notice to Customer.

4. Proprietary Information

Protection

Services include Proprietary Information. Customer acknowledges the Proprietary Information is proprietary and unique to EXANTE, as to which copyright, patent or other proprietary rights may be held by or licensed to EXANTE. Customer will not disclose, and will take or cause to be taken all necessary precautions to maintain the confidentiality of, the Proprietary Information (except that which is generally available to the public or previously known by Customer if not due to a breach of confidentiality obligations), will comply with all copyright, trademark, trade secrets, patent and other laws necessary to protect all rights in the Proprietary Information, and will not remove or conceal any copyright or other proprietary notice included in the Services. Customer will report the location of all copies of the Proprietary Information in Customer’s possession or control upon request and return them to EXANTE upon termination of this Agreement.

Right to Use

EXANTE grants Customer a nonexclusive, nontransferable, nonsublicensable right to use the Proprietary Information, including the software contained therein, and the Market Data, for the term of this Agreement, only at the User Location and on the number of display terminals permitted under the Services subscribed to by Customer. Customer may not assign, copy, modify, merge, transfer, decompile or reverse engineer any of the Proprietary Information, or use the same in conjunction with any non-approved software or hardware. Customer’s rights to the Services, Market Data and Proprietary Information cease upon termination of this Agreement.

5. Warranties, Disclaimers and Limits of Liability

Warranty

EXANTE will make commercially reasonable efforts to provide Market Data in a prompt and accurate manner. If Customer notifies EXANTE of a defect in Market Data or Proprietary Information, EXANTE will use reasonable efforts to try to correct it, giving due regard to the nature and extent of the defect. Customer acknowledges that:

1. it is not possible to produce software or transmit Market Data which is free of error or defect;
2. EXANTE is not the originator of Market Data and in a real-time information service environment, it is not possible to identify or remedy every error prior to transmission;
3. the EXANTE software programs are complex and may conflict with or be degraded or corrupted by other software applications operated by Customer on the same computer system; and
4. the Internet is subject to inherent limitations due to many factors including overloads, delays, disconnections, conflicts and interruptions. Customer acknowledges EXANTE has no knowledge of and Customer is solely responsible for the use that Customer makes of Market Data and the reliance that Customer places on Market Data and Services.

DISCLAIMER. THE RIGHT TO THE SERVICES AND TO USE THE PROPRIETARY INFORMATION AND MARKET DATA IS GRANTED “AS IS” AND “WITH ALL FAULTS”. NEITHER EXANTE NOR ANY MARKET DATA ORIGINATOR MAKES ANY REPRESENTATIONS, GUARANTIES OR WARRANTIES, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WHETHER EXPRESS OR IMPLIED, EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT OR, IN THE CASE OF MARKET DATA ORIGINATORS, IN CUSTOMER’S AGREEMENTS WITH THEM. CUSTOMER ACKNOWLEDGES IT HAS NOT RELIED UPON ANY REPRESENTATION, GUARANTY OR WARRANTY MADE BY EXANTE EXCEPT AS EXPRESSLY STATED HEREIN.

No Liability for Losses

Customer acknowledges EXANTE, its employees, agents, contractors, and Market Data Originators, will not be liable for any loss (including without limitation trading losses and lost profits), cost or damage, suffered or incurred by Customer or any third party arising out of any lost data, faults, interruptions or delays in the Services, or inaccuracies, errors or omissions in the information contained in the Services as supplied to or contributed by Customer, however such matters arise, unless due to EXANTE’s gross negligence or willful misconduct.

Limit of Liability

Notwithstanding any provision hereof, in no event will

1. EXANTE or Market Data Originators be liable for any lost profits or indirect, incidental, special, punitive, consequential or similar damages with respect to the Services, the Proprietary Information or the Equipment even if advised of the possibility of such damages;
2. the aggregate liability of EXANTE and Market Data Originators, their affiliates, employees or agents, direct or indirect, arising out of or in connection with this Agreement, exceed an amount equal to the monthly charges paid by Customer in the month in which the claim against them arose, regardless of the cause or form of action, whether claims are grounded in contract or tort; nor
3. EXANTE and Market Data Originators be liable to Customer on any claim that arose more than one (1) year before the institution of a suit thereon. The parties agree this Agreement reflects a reasonable allocation of risk and limitation of liability. If some jurisdictions do not allow the exclusion or limitation of liability for certain damages, in such jurisdictions, the liability limits in this paragraph shall be limited in accordance with this Agreement to the extent permitted by law.

6. Indemnification

By Customer

Customer will defend, indemnify and hold harmless EXANTE and Market Data Originators, and their directors, employees, representatives, agents and contractors from and against any claim, loss, liability, cost or damage, including reasonable attorneys fees, arising from

1. Customer’s breach of this Agreement;
2. any third party accessing, or receiving advice based on, the Services, Market Data or Equipment by or through Customer’s acts or omissions; or
3. any information entered into the ORS by or through Customer’s acts or omissions.

By EXANTE

EXANTE will indemnify and hold Customer harmless from and against any claim of infringement of a United States patent or copyright based upon use of the Proprietary Information which is not a Customer breach of this Agreement, provided Customer gives EXANTE prompt notice of and the opportunity to defend any such claim and Customer cooperates in the defense thereof. EXANTE will have the right to settle such claim, and, at EXANTE’s option, provide Customer

1. a paid up license; or
2. substitute functionally equivalent Proprietary Information.

7. Termination

Defaults

The following events constitute “Defaults” under this Agreement:

1. a breach by either party of a provision of this Agreement which is not cured within 10 days after written notice of such breach, provided that for Customer’s default in payment of any sum due EXANTE, the cure period shall be 5 days from the date of notice of the default, and no notice or cure period is required for Customer’s breach of Sections 1(b) or 3; or
2. a party’s making an assignment for the benefit of its creditors, or the filing by or against the party of a voluntary or involuntary petition under any bankruptcy or insolvency law, which petition is not dismissed within 60 days from the filing thereof.

Customer’s Remedies

Upon a Default by EXANTE, Customer may terminate this Agreement by notice to EXANTE.

EXANTE’s Remedies

Upon a Default by Customer, EXANTE may terminate this Agreement on notice to Customer, and recover from Customer all charges due and possession of EXANTE’s property. EXANTE shall also be entitled to injunctive and other equitable relief against Customer for breaches of this Agreement. EXANTE’s rights and remedies are cumulative and not exclusive.

Return of EXANTE Property

Upon the termination of this Agreement, Customer will return at its expense and in a safe and commercially reasonable manner the Proprietary Information, Equipment and other property of EXANTE.

8. Order Routing Service

The terms in this Section apply only if EXANTE provides Customer with access to EXANTE’s electronic order/trade routing service (“ORS”), and if so provided, the ORS shall be deemed to be part of the Services.

License

Subject to Customer’s subscribing to the ORS, EXANTE will grant Customer non-exclusive and non-transferable access to use the ORS solely for purposes of routing orders, trades and related information among Customer, exchanges and brokers or dealers with whom Customer has an account and who have entered into an ORS agreement with EXANTE (“Broker”). Customer must notify EXANTE of the identity of the Broker(s), and Customer may access the ORS after Broker has authorized Customer to use the ORS. Customer may access the ORS only through the terminals Customer is authorized to use for the receipt of the Services. EXANTE may be compensated by Broker for transactions made through the ORS.

Order Acceptance by Broker

Customer acknowledges and agrees:

1. use of the ORS, and all orders and information placed through the ORS, are at Customer’s sole risk and orders, trades and other information may not be received by Broker, Customer or the exchanges due to technical problems;
2. all orders are subject to acceptance by Broker and the limitations and parameters established by the Broker and the applicable exchanges; and
3. Broker may be responsible for routing orders/trades and confirmations between the ORS and the appropriate trading exchanges.

No Advice

Customer represents it is financially sophisticated and experienced in the type of trading to be routed through the ORS. Customer understands that EXANTE, in granting Customer access to the ORS, is offering order/trade routing services and an information conduit only, and EXANTE does not offer any advice regarding the nature, potential value or suitability of any particular transaction or investment strategy. NOTHING IN THIS AGREEMENT OR IN EXANTE’S PERFORMANCE SHALL BE CONSTRUED AS A SOLICITATION OR RECOMMENDATION TO USE ANY BROKER OR DEALER, BUY OR SELL ANY SECURITY OR INSTRUMENT OR ENGAGE IN ANY TRANSACTION.

Technical Problems

1. Customer understands that technical problems or other conditions may delay or prevent persons from entering or canceling an order or receiving information through the ORS. Customer agrees EXANTE shall not be liable for, and Customer will not hold or seek to hold EXANTE liable for, any loss, cost or damage (including trading losses or data losses) suffered or incurred by Customer or any third party arising out of
   1. any use or reliance on the ORS or its content; or
   2. any interruptions, failures (including access and security failures and unauthorized use or access by third parties), faults or delays in or related to the ORS or out of any errors, omissions or inaccuracies in the information transmitted through the ORS to or by any person, however such interruptions, failures, faults, delays, errors, omissions or inaccuracies arise, unless due to EXANTE’s gross negligence or willful misconduct.
2. ADDITIONALLY, EXANTE DOES NOT WARRANT, REPRESENT OR GUARANTY THAT (1) CUSTOMER OR BROKER WILL BE ABLE TO ACCESS OR USE THE ORS AT TIMES OR LOCATIONS OF THEIR CHOOSING, (2) EXANTE WILL HAVE ADEQUATE CAPACITY FOR THE ORS AS A WHOLE OR IN ANY GEOGRAPHIC LOCATION, OR (3) THE ORS OR ANY SOFTWARE RELATED THERETO IS VIRUS FREE OR WILL PROVIDE UNINTERRUPTED AND ERROR FREE SERVICE. (3) EXANTE RESERVES THE RIGHT TO SUSPEND SERVICE AND DENY ACCESS TO THE ORS WITHOUT PRIOR NOTICE DURING SCHEDULED OR UNSCHEDULED SYSTEM MAINTENANCE OR UPGRADING. FOR THE AVOIDANCE OF DOUBT, THE DISCLAIMERS IN SECTION 7 ABOVE APPLY TO THE ORS.

Access Termination

EXANTE may terminate Customer’s access to the ORS without notice for any reason, including but not limited to pursuant to a request from Broker, or due to Customer’s breach of this Agreement, or a breach or termination of EXANTE’s agreement with Broker or the applicable exchange. Customer understands that Broker also may have the right and ability to disable Customer’s access to the ORS.

Property Rights

Any and all materials (including software) that EXANTE provides to Customer in connection with the ORS are the property of EXANTE and are intended only for Customer’s use in connection with accessing the ORS. Customer shall not copy, sell or distribute such materials to others, nor permit access to the ORS by others. Customer shall not delete any copyright notices or other indications of protected intellectual property rights from such materials, including those that Customer prints or downloads from the ORS.