If Client’s service includes Market Data provided by Euronext, the following additional terms apply:

For purposes of this Section 7, the following definitions apply:

1. “Delayed Time” means distribution of the Euronext Market Data in respect of which 15 minutes or more have lapsed from the time the Euronext Market Data was first disseminated by Euronext, such period of delay being determined by reference to the time/date stamp of the Euronext system concerned;
2. “Device” means a device, (software) application or other method capable of accessing, receiving, displaying and/or processing Euronext Market Data including, without limitation, any listening device and any other form of audio communication, a user identification, terminal or similar equipment;
3. “Real Time” means distribution of the Euronext Market Data in respect of which less than 15 minutes have elapsed from the time the Euronext Market Data was first disseminated by Euronext, such period of delay being determined by reference to the time/date stamp of the Euronext system concerned; and
4. “Service” means the provision by Vela to Client of Real Time or Delayed Time Euronext Market Data.
5. Client acknowledges that Euronext may at its sole discretion require Vela to discontinue the dissemination of Euronext Market Data to any site for which Client has failed to meet its obligations under this Agreement.  In such cases Euronext must provide 30 (thirty) days’ prior notice of disconnection in writing to Vela and to Client.
6. Client shall be assigned a unique user identification.  Such unique user identification may not be used on different Devices nor on the same Device simultaneously.
7. Client:
   1. may only communicate limited extracts (i.e. purely ad hoc and insubstantial extracts) of Real Time Euronext Market Data, provided that any such extract:
      1. is not continuous;
      2. does not constitute updating in Real Time;
      3. is made on either an infrequent or irregular basis;
      4. is incidental to the purpose of Client’s principal business;
      5. cannot be used as a substitute for any Service or any substantial part of it;
      6. has no independent commercial value;
      7. is not separately charged for;
      8. is not made in connection with commercial information broking, information vending, publishing or credit rating, nor for substantial reproduction through the press or media, nor for transmission via any private or public network, cable or satellite system; and
   2. may not delete any copyright or proprietary notice contained in the Euronext Market Data.
8. Client shall not redistribute the Euronext Market Data to any of Client’s group of companies without the prior written consent of Euronext.
9. Client:
   1. recognizes that Euronext owns the intellectual property rights in the Euronext Market Data;
   2. recognizes that the Euronext Market Data is provided subject to the terms of a separate agreement with Euronext;
   3. recognizes the restrictions on third party redistribution of Euronext Market Data as agreed with Euronext;
   4. shall provide on request all information requested by Vela or Euronext for auditing or compliance purposes;
   5. allows rights of audit by Vela, Euronext or their appointed representatives;
   6. shall use the Euronext Market Data only for its own internal business use.

In case of non-payment or non-compliance by Client with the conditions set out in this Agreement, Vela shall cease disseminating the Euronext Market Data to Client.