Terms of Use and Important Legal Information

Terms of Use and Important Legal Information

LAST UPDATED: May 6, 2020

Unless otherwise indicated, all material on this site Copyright 1999 - 2020 - DTCC. All rights reserved. DTCC, DTCC (Stylized), ADVANCING FINANCIAL MARKETS. TOGETHER, and the Interlocker Graphic are registered and unregistered trademarks of The Depository Trust & Clearing Corporation.

PLEASE READ THESE TERMS OF USE CAREFULLY BEFORE USING OR ACCESSING ANY PAGES, TEXT, DATA, INFORMATION OR OTHER CONTENT ON THIS WEBSITE (COLLECTIVELY CALLED THE “DTCC SITE”). BY USING THE DTCC SITE, YOU ACKNOWLEDGE THAT YOU HAVE READ THESE TERMS OF USE (“TERMS OF USE”), UNDERSTAND THEM, AND AGREE TO BE BOUND BY THEIR TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO THESE TERMS OF USE, YOU SHALL NEITHER ACCESS NOR USE THE DTCC SITE.

The DTCC Site is owned and operated by The Depository Trust & Clearing Corporation and its affiliates (collectively “DTCC”). These Terms of Use contain the terms, and conditions which govern your (also referred to herein as “User” or “you”) access and use of the DTCC Site and the content, including (without limitation) the products, services, publications, indices, data and information displayed on the DTCC Site (“Content”). DTCC RESERVES THE RIGHT TO CHANGE THESE TERMS OF USE UPON NOTICE, WHICH MAY BE GIVEN BY DTCC POSTING SUCH CHANGE (OR REVISED TERMS OF USE) ON THE DTCC SITE, BY E-MAIL, OR BY ANY OTHER REASONABLE MEANS USED TO COMMUNICATE WITH ITS CLIENTS. YOUR CONTINUED USE OF THE DTCC SITE FOLLOWING NOTICE OF SUCH CHANGES WILL BE DEEMED YOUR ACCEPTANCE OF ANY CHANGES TO THESE TERMS OF USE.

Notwithstanding anything in the Terms of Use to the contrary, your rights to use certain material available on or through the DTCC Site may be subject to separate agreements with DTCC (“Separate Agreements”). In the event you have Separate Agreement to access all or any portion of the DTCC Site or its Content, including any separately entitled sections of the DTCC Site, then the Separate Agreement, rather than these Terms of Use, will govern in the event of a conflict.

Use of Content

The Content contained on the DTCC Site is for personal use only, and except as otherwise expressly provided in with the written permission of DTCC, you may not license, sell, modify, adapt, copy, distribute, redistribute, reproduce, publish, republish, redistribute, reverse engineer, broadcast, or retransmit the Content, frame any part of the Content, compile the Content into a database or information service, create any derivative of the Content for commercial distribution, use the Content to compete with the business of DTCC, or use any data included in the Content in the calculation of an index or as the basis of any financial instrument or investment product that is based on or seeks to match the performance of the values included in the data, and you may not authorize any other person to engage in any of these activities with respect to the Content. You may not use any automated device, computer program, tool, algorithm, bot or similar process to mine or systematically scrape or extract data from the DTCC Site. Any unauthorized use of Content may violate copyright laws, trademark laws, contract law, the laws of privacy and publicity, and/or communications regulations and statutes. DTCC may discontinue or change any product, service, data, information or Content described in or offered on the DTCC Site at any time.

Public DTCC Reports

You agree that before accessing from the DTCC Site any Trade Information Warehouse or Global Trade Repository report (collectively, the “DTCC Reports”), you will read any explanatory materials that accompany such DTCC Reports. The DTCC Reports do not include certain important economic information that may relate to other derivatives activity, such as information on associated positions, on other derivatives activity (including further derivatives positions), and other counterparty or credit risk related positions, including associated collateral positions. As a result, it may not be possible to determine accurate credit and counterparty risk exposure information from the DTCC Reports. Certain of the content, information or materials included in a DTCC Report may be considered “non-traded” in nature, such as data related to industry compression or tear-up activity, or data on the clearing of existing transactions. In addition, content included in the DTCC Reports may be recorded in short form, where not supplied to DTCC as fully matched confirmation records. These short form records may omit necessary data items to identify them as relevant to a specific enquiry. Not all records have been submitted to DTCC as of their trade date, as certain transactions have been loaded in batches. You will not remove, change or obscure any copyright notice or other proprietary notice or terms of use contained in the DTCC Reports.

Disclaimers and Limitation of Liability

None of the Content on the DTCC Site shall be considered an offer or recommendation to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. Further, none of the Content is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction.

The entire risk as to the accuracy, completeness and use of the Content of the DTCC Site is with you, as is the risk of viruses and other contamination. YOU HAVE THE SOLE RESPONSIBILITY FOR ADEQUATE PROTECTION AND BACKUP OF DATA AND/OR EQUIPMENT USED IN CONNECTION WITH THE DTCC WEBSITE.

THE DTCC SITE AND ITS CONTENT, INCLUDING ANY INDEX AND RELATED DATA, ARE PROVIDED "AS IS" AND “AS AVAILABLE” WITH ALL FAULTS, ERRORS, DEFECTS, INACCURACIES AND OMISSIONS. DTCC DOES NOT MAKE, AND SPECIFICALLY DISCLAIMS, ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTY OF NON-INFRINGEMENT, FITNESS FOR A PARTICULAR PURPOSE OR MERCHANTABILITY WITH RESPECT TO ALL ASPECTS OF THE DTCC SITE AND THE CONTENT CONTAINED THEREIN. DTCC DOES NOT IN ANY WAY GUARANTEE, AND SHALL NOT BE LIABLE FOR, THE ADEQUACY, QUALITY, ACCURACY, COMPLETENESS, WORTH, OR TIMELINESS OF CONTENT THAT IS MADE AVAILABLE OR OBTAINED BY WAY OF THE DTCC SITE, INCLUDING THE INDEXES. DTCC DOES NOT WARRANT THAT THE DTCC SITE OR ITS CONTENT, INCLUDING ANY INDEX, WILL BE ERROR-FREE OR THAT DEFECTS WILL BE CORRECTED. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUM EXTENT PERMITTED BY LAW, UNDER NO CIRCUMSTANCES, INCLUDING NEGLIGENCE, SHALL DTCC, OR ITS DIRECTORS, OFFICERS, MANAGERS, AGENTS OR CONSULTANTS, BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, ARISING OUT OF, CONNECTED WITH, OR RESULTING FROM, THESE TERMS OF USE OR THE PERFORMANCE OR BREACH THEREOF, FROM THE DTCC SITE OR ANY CONTENT OR INDEX OR THE USE THEREOF, OR FROM ANY PRODUCT OR THE USE OR PERFORMANCE THEREOF, EVEN IF THEY MIGHT HAVE ANTICIPATED OR HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.

Indemnity

To the maximum extent permitted by law, you agree to indemnify DTCC and its directors, managers, employees, agents and consultants (the “Indemnified Parties”) in respect of, and hold each of them harmless from and against, any and all losses, liabilities, damages, fines, penalties, deficiencies, costs or expenses, including the reasonable fees and expenses of attorneys or other experts and professional advisers suffered, incurred or sustained by any of them, or to which any of them becomes subject, as a result of, any third party claim arising from or related to (a) your use, including commercial use, of Content (including without limitation Index values and related data), (b) your positions and/or transactions in respect of any Products based on an Index, or (c) your violation of these Terms of Use.

In providing the indemnity hereunder, you shall not (i) take any action that purports to speak on behalf of DTCC, including without limitation submitting an answer, asserting a defense or any kind or interposing a third party claim; or (ii) consent to entry of any judgment or enter into any settlement which (A) does not include, as an unconditional term, the grant by the claimant to the Indemnified Parties of a release of all liabilities in respect of all claims made in the suit or proceeding, (B) imposes un-reimbursed monetary or continuing non-monetary obligations on any Indemnified Party, or (C) otherwise adversely affects the rights of any Indemnified Party.

Trademarks

All names of DTCC and their products and services referenced on the DTCC Site are either registered trademarks or servicemarks of, or trademarks or servicemarks of, DTCC in the U.S. or elsewhere. Other names of companies, products or services appearing in this publication are trademarks or servicemarks of their owners. Nothing in these Terms of Use grants you any right to use the trademarks, names or logos of DTCC. You may not represent, directly or indirectly, that any product, data or any service provided by you has been approved or endorsed by DTCC.

Linked Sites

The DTCC Site contains hyperlinks to third party websites which are the sole responsibility of such independent third parties and use thereof is solely at your own risk. DTCC has no control over such third-party websites, and DTCC is not responsible for (and under no circumstances shall be liable for) the contents, policies, accuracy or reliability of any websites hyperlinked to the DTCC Site.

CUSIP Database & Proprietary Rights

To the extent that you have access to CUSIPs on the DTCC Site, you agree and acknowledge that the CUSIP Database and the information contained therein is and shall remain valuable intellectual property owned by, or licensed to, CUSIP Global Services ("CGS") and the American Bankers Association ("ABA"), and that no proprietary rights are being transferred to Subscriber in such materials or in any of the information contained therein.

American Bankers Association CUSIP Database provided by S&P Global Market Intelligence LLC. Copyright © 2020. All rights reserved.

Members of the Press and Media

Members of the press and media who have questions related to use of the Content on the DTCC Site, should contact DTCC’s Media Relations Department at https://www.dtcc.com/press-room/media-contacts.

Permission to use DTCC Site Content

Reproduction and distribution of the DTCC Site or its Content, in any form, is prohibited except with the prior written permission DTCC. If you have desire to use DTCC Site Content other than as expressly permitted in these Terms of Use or have questions about the Content contained on the DTCC Site, please contact marketingcommunications@dtcc.com.

Claims, Jurisdiction and Choice of Law

Information published on the DTCC Site may contain references to products, programs and services that are not announced or available in your country or region. DTCC makes no representation that such information, products, programs or services referenced on this website are legal, available or appropriate in your country or region.

These Terms of Use shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to any principles of conflicts of law. DTCC and you each agree to bring any action relating in any way to these Terms of Use, the DTCC Site, or any Content distributed by or through the DTCC Site, including the Indexes, in the courts located in New York, New York, except that you may assert claims in any applicable small claims court if your claims qualify. DTCC and you each waive any right to a jury trial. Any claim under these Terms of Use must be brought within one (1) year after the cause of action arises, or such claim or cause of action is barred.

Severability

If any provision of these Terms of Use shall be deemed unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from the remaining Terms of Use and shall not affect the validity and enforceability of any remaining provisions.

Privacy

Please see our Privacy Policy for information regarding the collection and use of personal information from the DTCC Site.

General

Specific Content, areas or pages of the DTCC Site may include or reference additional or different terms relating to the use of the DTCC Site or the rights or obligations of you or DTCC (“Specific Terms”). By accessing such Content, areas or pages, you agree to be bound by those Specific Terms. In the event of a conflict between such Specific Terms and these Terms of Use, such Specific Terms shall control for the applicable Content, areas or pages.

Except as otherwise set forth in a Separate Agreement, these Terms of Use, including any Specific Terms, represent the entire understanding relating to the use of the DTCC Site and its Content (including Indexes) and prevail over any prior or contemporaneous, conflicting or additional communications. The failure of DTCC to exercise or enforce any right conferred upon it by these Terms of Use or any Specific Terms shall not be deemed to be a waiver of any such right or operate so as to bar the exercise or enforcement thereof at any time or times thereafter. No course of conduct between DTCC and you or any other party will be deemed to modify any provision of these Terms of Use.

Any unauthorized access, modification or change of any information, or any interference with the availability of or access to this website is strictly prohibited. DTCC reserves all legal rights and remedies available and these Terms of Use shall in no way be deemed a limitation or waiver of any other rights DTCC may have.

Legal and Regulatory Compliance

Regulation of DTCC ITP in the United States

Several DTCC Institutional Trade Processing services are subject to regulation by the U.S. Securities and Exchange Commission (“SEC”). DTCC ITP's TradeSuite ID and TradeMatch, which are U.S.—based electronic trade confirmation and central matching services, are subject to SEC regulation and is a service of DTCC ITP Matching (US) LLC. CTM, which is a central matching service, is subject to SEC regulation when the service is used for trades in which either the broker-dealer or its institutional customer is a U.S. entity and the securities in the trade are issued by a U.S. issuer and is a service of DTCC ITP Matching (US) LLC. The SEC regulation of DTCC ITP Matching (US) LLC is set out in an SEC order granting an exemption from registration as a clearing agency. The order is contained in SEC Release No. 34-44188; File No. 600-32; 66 FR 20494 (April 17, 2001).



Regulation of DTCC ITP Matching (Canada) Limited in Canada

DTCC ITP Matching (Canada) Limited has been granted status as a Matching Utility by the Ontario Securities Commission under NI24-101. DTCC ITP Matching (Canada) Limited has been authorized by the Ontario Securities Commission to offer its matching service, DTCC's CTM to its Canadian clients.



Regulation of DTCC ITP (UK) Limited in the United Kingdom

DTCC (UK) Limited has been authorised by the Financial Conduct Authority (FCA) to carry out regulated activities in the UK as a Service Company. DTCC's CTM and ALERT systems are regulated services in the UK.



SSAE 16 Audit of Control Environment

On an annual basis, DTCC engages an independent third-party auditor to examine and report on the suitability of the design and operating effectiveness of controls for the most widely used DTCC Institutional Trade Processing solutions. The auditor prepares a Service Organization Control (SOC) 1 Type 2 report in accordance with Statement on Standards for Attestation Engagements (SSAE) No. 16, which was published by the American Institute of Certified Public Accountants (AICPA) and supersedes the SAS 70 standard for performing an examination of controls and processes. The SOC 1 report addresses controls in various areas, including data accuracy, security and processing timeliness. The report also contains a description of the control environment, including systems and processes, as well as management's assertion about the design and operating effectiveness of this control environment. Please direct SSAE 16 inquiries to your Relationship Manager, a Sales Associate or by contacting DTCC’s Client Contact Center.

If you have any questions, please contact DTCC’s Compliance Department at dtcccompliancehotline@dtcc.com.

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