Terms Specific to Market Data provided by SIX Exfeed (“SIX Exfeed”).
- “Automated Trading Application” means an application that receives SIX Exfeed Market Data for the purpose of generating quotes or executing transactions automatically (including, but not limited to, applications for algorithmic trading, program trading and reference-price calculation);“Client’s Group” means Client, Client’s direct and indirect subsidiaries, Client’s holding company and direct or indirect subsidiaries of Client’s holding company, where these entities receive SIX Exfeed Market Data directly or indirectly from Vela under the terms of this Agreement and subscribe to Vela’s service as a single group;“Delayed Data” means SIX Exfeed Market Data displayed at least 15 minutes after transmission by SIX Exfeed.“Media Publication” means the display of information to the general public via established newspaper, TV, radio or similar information service, excluding any service which allows interactivity and electronic processing of real-time data. SIX Exfeed may determine in its sole discretion whether a proposed form of publication qualifies as media publication;“New Original Works Application” means any work that is created partly or wholly from SIX Exfeed Market Data, but does not display or incorporate any data distributed or licensed by SIX Exfeed. The original SIX Exfeed Market Data cannot be identified, recalculated or re-engineered on the basis of the work and the work cannot be used as a substitute for the SIX Exfeed Market Data;“Non-Professional Use” means use of SIX Exfeed Market Data by Clients who are private subscribers who (a) are natural persons rather than a corporation, partnership or other organization, (b) are restricted to using SIX Exfeed Market Data only for the purpose of managing their personal investments and not for any business purpose or for the purpose of giving any form of advice to anyother person, and (c) agree to provide any information required by Vela or SIX Exfeed in order to verify the nature of their use of the SIX Exfeed Market Data;“Professional Use” means all use of SIX Exfeed Market Data other than Non-Professional Use;“Real-time Data” means SIX Exfeed Market Data which is displayed within 15 minutes of transmission by SIX Exfeed.
- any works so created which contain, display, represent or recreate any item of SIX Exfeed Market Data will be regarded as SIX Exfeed Market Data for the purposes of this Agreement; andClient may not use any element of SIX Exfeed Market Data to create or recalculate indices or to feed Automated Trading or New Original Works Applications without the prior permission of SIX Exfeed and Vela and the payment of any applicable fees.
- use best efforts to credit SIX Exfeed (and any licensor of SIX Exfeed Market Data or other source of SIX Exfeed Market Data) as the source(s) of the SIX Exfeed Market Data; andnot alter, deface or remove any trademarks, trademark notices or copyright notices transmitted with the SIX Exfeed Market Data.