Non-Professional Self-Certification

Certain market data sources ("Exchanges") permit some users to subscribe to data for reduced fees if they meet certain criteria.

Please identify the exchanges from which you wish to source data and complete the information required, in each Exchange section and in the user profile section, and submit the form.

Select exchange(s), for real-time data

Please note that in order to obtain/use of data from certain Exchanges, you may also be required to complete and return a specific Exchange agreement and/or agree to other terms of use.

ASX/ASX24

ASX offers certain data at reduced rate to Non Professional Investors ("NPI"). NPI means any person who accesses the Information for their personal and private use. This expressly excludes, without limitation, the following:

  • a) anybody registered with any securities agency, regulatory or self-regulatory body;
  • b) anybody engaged in a financial services business or employed as a financial adviser;
  • c) anybody accessing or using the Information other than for personal use relating to their own investment portfolio;
  • d) anybody accessing the Information in the course of their employment or in connection with any form of trade or business;
  • e) anybody engaged in the business of accessing or aggregating information and redistributing or otherwise furnishing that information to third parties;
  • f) if the Subscriber Agreement between the End User and the NTP is signed in a name other than the name of the End User in their personal capacity.

The definition of NPI should be construed as allowing natural persons associated with noncommercial organizations (such as family investment trusts, self-managed super funds, and investment clubs), to access the Information at the Non-professional Continuous Enquiry Fee. Please note that the non-commercial organization itself cannot be construed as a NPI, nor can any professional staff paid to support its activities – e.g. lawyers, accountants, administrative staff etc.

BME/MEFF
BME offers certain data at reduced rate to "Non-Professional Investors". Non-Professional Investor shall mean any End User meeting each and every of the following criteria:

  • a) The End User is a natural person;
  • b) Does not manage, legally represent or act as an agent (whether a tied agent or not) of a credit institution or financial services firm;
  • c) Is not subject to the supervision of any domestic or foreign financial supervisory body;
  • d) Uses the Licensed Data for his/her private purposes exclusively, such as his/her own asset management;
  • e) Does not use the Licensed Data for any commercial purpose;
  • f) Does not use, in any manner, the Licensed Data received for the benefit of third parties; and
  • g) Does not re-distribute nor make available the Licensed Data to third parties.
CME, CBOT, COMEX, NYMEX and/or GME (select this option for E-Mini Nasdaq)

CME offers certain data at reduced rate to “Non-Professional" subscribers. For CME, Non-Professional shall mean and include either (i) an individual, natural person Subscriber(s) who, or (ii) certain small business entities (limited liability companies, partnerships, trusts or corporations) that, receive and use Information (excluding any pit traded data), in each case subject to the following restrictions:

The Non-Professional Subscriber must

  • (a) have an active futures trading account;
  • (b) be an individual, natural person or small business entity;
  • (c) not be a member (or hold or lease any type membership) of any exchange;
  • (d) not be registered or qualified as a professional trader or investment adviser with any stock, commodities or futures exchange or contract market, or with any financial regulatory authority; and
  • (e) not be acting on behalf of an institution that engages in brokerage, banking, investment, or financial activities; and

The Non-Professional Subscriber's Use of Information must

  • (f) be solely for the Subscriber's personal or private use;
  • (g) be limited to managing the Subscriber's own assets and, not be used in connection with the management of any assets of any third party(ies) in any capacity; and

The Non-Professional Subscriber's Access to Information must only

  • (h) be via a maximum of two trading terminals per Distributor, permissioned for Real-Time Information and capable of routing orders to the CME Globex Platform (an “Order Routing Device").
Deutsche Borse Group; Eurex

Deutsche Borse Group offers certain data at reduced rate to Non-Professional Customers. Non-Professional Customers must confirm that they do not meet any Professional criteria outlined as follows:

Professional Customer means a customer who uses market data to carry out a regulated financial service or regulated financial activity or to provide a service for third parties, or who is considered to be a large undertaking, i.e. meeting two of the following size requirements on a company basis:

  • (i) balance sheet total of EUR 20 000 000
  • (ii) net turnover of EUR 40 000 000
  • (iii) own funds of EUR 2 000 000.
Euronext
Euronext offers certain data at reduced rate to “Non-Professional Subscribers.” Non-Professional Subscriber means a Subscriber who is

  • (i) a natural person that is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services and
  • (ii) that meets all of the following criteria:
    • a) He/she subscribes (i.e. registers and pays) in an individual and personal capacity. He/she does not subscribe as a principal, officer, partner, employee or agent, neither of any business, nor on behalf of any other individual;
    • b) He/she uses the Information solely for management of his/her own personal property, i.e. in his/her own personal investment activities. He/she does not use the Information as a trader to the public or for the investment of corporate funds. Furthermore, he/she does not operate a credit institution and/or a financial services institution;
    • c) He/she is not a day trader dealing at a credit institution’s and/or financial services institution’s premises or a self-employed individual maintaining an account on his/her company’s name;
    • d) He/she does not use the Information for the management of the property of third parties with or without a remunerative character for him/her. This includes, but is not limited to the Use of the Information for the (non-professional) management of third party assets and/or within the framework of a (non-commercial) investment club; and
    • e) He/she does not use or process data for any business purpose.
Montreal Exchange and/or Toronto Stock Exchange
For all other exchanges, a subscriber can qualify as a non-professional if they meet all of the following criteria. The Subscriber must:

  • a) Be an individual, natural person, or a qualifying trust;
  • b) Receive and use Information solely for his/her personal and private use, relating to his/her own investment portfolio, and does not use the Information for business purposes, such as commercial securities trading or the professional management of third-party assets;
  • c) Not be a securities professional. Securities professionals are:
    • a. registered or qualified in any capacity with the Securities and Exchange Commission, the Commodities Futures Trading Commission, any state securities agency, regulatory or self-regulatory body, any securities exchange or association, or any commodities or futures contract market or association; or
    • b. engaged as an “investment adviser” as that term is defined in Section 202(a)(11) of the Investment Advisors Act of 1940 (whether or not registered or qualified under that Act); or
    • c. employed by a bank or other organization exempt from registration under federal or state securities laws to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt; or
    • d. operates a credit or financial services institution;
  • d) For a natural person who works outside of the United States, not perform the same functions as would disqualify such person as a Non-Professional User if he or she worked in the United States;
  • e) Not distribute, furnish or make available the Information to third parties; and
  • f) Executes the subscriber agreement, if any, in its own name, in the Subscriber’s personal capacity.
NASDAQ Futures, Fixed Income, International Stocks, and/or Indices

NASDAQ Futures, Fixed Income, International Stocks, and/or Indices data may be available to certain "Non-Professional" subscribers at a reduced rate. For NASDAQ Futures, Fixed Income, International Stocks, and/or Indices data, please review the language below and select the appropriate designation:

You must be 18 years of age and must designate yourself as either a Non-Professional or Professional and Business or Private Subscriber in the following section, based on the definitions provided. To qualify as Non-Professional or Private Subscriber, you must meet all the terms set forth below.

U.S. Information/Market Data

Non-Professional Subscriber - Any natural person who is NOT:

  • (a) registered or qualified in any capacity with the SEC, the Commodities Futures Trading Commission, any state securities agency, any securities exchange or association or any commodities or futures contract market or association;
  • (b) engaged as an "investment advisor" as that term is defined in Section 202(a)(11) of the Investment Advisors Act of 1940 (whether or not registered or qualified under that Act); or
  • (c) employed by a bank or other organization exempt from registration under federal or state securities laws to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt.

Professional Subscriber - All other persons who do not meet the definition of Non-Professional Subscriber.

Canada Information/Market Data

Non-Professional Subscriber - Non-Professional is defined as a natural person who is not a securities professional and who is acting in his/her personal capacity and not as a principal, officer, partner, employee nor agent of any business, nor on behalf of any individual. To provide further clarification but without being limited, the definition excludes brokers, dealers, investment advisors, or persons otherwise employed by organizations conducting professional activities involving the buying and selling of instruments, such as stocks, bonds, options, futures contracts and other trading vehicles. A Non-Professional cannot be registered or qualified with:

  • (a) Any provincial, state, or other government securities agency or other entity that performs functions that are equivalent to those of such persons;
  • (b) Any securities exchange or association or other entity that performs functions that are equivalent to those of such persons;
  • (c) Any commodities or futures exchange or association or other entity that performs functions that are equivalent to those of such persons; and
  • (d) Any Alternative Trading System or other entity that performs functions that are equivalent to those of such persons.

Professional Subscriber - A User that does not meet the definition of a Non Professional below shall be deemed to be a Professional and is subject to the fees specified for Professionals.

Non-U.S., Non-Canada Information/Market Data

Private Subscriber - A natural person for the purpose of managing the Subscriber's own personal investments and not for any business purpose, nor for the purpose of giving any form of advice to any other person. A Private Use Subscriber may not:

  • (a) contract for, receive or use Information for the purpose of Private Use on behalf of any other person or any corporation, partnership, limited liability company, trust, association or other form of entity,
  • (b) contract for, receive or use Information for the purpose of Private Use in any Service that is paid for by another person or any corporation, partnership, limited liability company, trust, association or other form of entity.

A Private Use Subscriber shall, notwithstanding the above:

  • (c) be permitted to contract for, receive or use Information on behalf of or paid for by another natural person (person B) provided that (1) its for the purpose of managing person B's own personal investments and not for any business purpose, and (2) person B have filed a power of attorney or equivalent documentation accordingly with Licensee,
  • (d) be permitted to contract for, receive or use Information for Private Use on behalf of and/or paid for by a legal entity or other form of non-natural Person in which the Private Use Subscriber has full (100%) ownership and exercises full (100%) control,
  • (e) Section (c) and (d) may not be combined.

Business Subscriber - All other persons who do not meet the definition of Private Subscriber.

NASDAQ US Equities
NASDAQ US Equities may be available to certain "Non-Professional" subscribers at a reduced rate. For Non-Professional Subscribers, NASDAQ US Equities data is licensed only for personal use. For NASDAQ US Equities Non-Professional Subscriber means any natural person who is NOT:

  • a) registered or qualified in any capacity with the SEC, the Commodities Futures Trading Commission, any state securities agency, any securities exchange or association or any commodities or futures contract market or association;
  • b) engaged as an "investment adviser" as that term is defined in Section 202(a)(11) of the Investment Advisers Act of 1940 (whether or not registered or qualified under that Act); or
  • c) employed by a bank or other organization exempt from registration under federal or state securities laws to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt.
NYSE - NYSE Stocks, NYSE American, ICE Data Global Indexes (Formerly NYSE Indexes)

NYSE offers certain data at reduced rate to "Nonprofessional" subscribers. To qualify as a Nonprofessional Subscriber, an individual subscriber must be a natural person who receives market data solely for his/her personal, non-business use and who is not a "Securities Professional," meaning that the person is:

  • a) not registered or qualified with the Securities and Exchange Commission, the Commodities Futures Trading Commission, any state securities agency, any securities exchange/association, or any commodities/futures contract market/association; and
  • b) not engaged as an "investment advisor," as that term is defined in Section 202(a)(11) of the Investment Advisers Act of 1940 (whether or not registered or qualified under that Act); and
  • c) not employed by a bank or other organization exempt from registration under Federal and/or state securities laws to perform functions that would require him/her to be so registered or qualified if he/she were to perform such functions for an organization not so exempt.

A person who works outside of the United States will be considered a "Securities Professional" if he or she performs the same functions as someone who would be considered a "Securities Professional" in the United States.

OPRA
OPRA offers certain data at reduced rate to "Nonprofessional" subscribers. To qualify as a Nonprofessional subscriber, an individual must represent and agree that the following statements are and will continue to be true for so long as the subscriber receives OPRA Data as a Nonprofessional:
For a natural person who works in the United States, a "Professional" is a natural person who is: (i) registered or qualified with the Securities and Exchange Commission, the Commodities Futures Trading Commission, any state securities agency, any securities exchange/association, or any commodities/futures contract market/association, (ii) engaged as an "investment adviser," as that term is defined in the Investment Advisers Act of 1940 (whether or not registered or qualified under that Act); or (iii) employed by a bank or other organization exempt from registration under Federal and/or state securities laws to perform functions that would require you to be so registered or qualified if you were to perform such functions for an organization not so exempt. For a natural person who works outside of the United States, a "Professional" is a natural person who performs the same functions as someone who would be considered a "Professional" in the United States.

[1] The term "qualifying trust" means (a) any irrevocable or revocable trust (1) which has only one trustee, who is a natural person and is not receiving any compensation for acting as trustee and (2) of which the only current beneficiaries are any one or more of the trustee and the immediate family members of the trustee, and (b) any custodial account established under a Uniform Transfers to Minors Act or similar state statute (1) which has only one custodian, who is a natural person and is not receiving any compensation for acting as custodian, and (2) of which the beneficiary is a lineal descendant (a child, grandchild, etc.) of the custodian. A "current beneficiary" is a beneficiary to whom the current income or principal of the trust may or must then be distributed, ignoring the possible exercise of any then unexercised power of appointment. The term "immediate family members" is defined in the footnote to paragraph 1(b) of the OPRA Addendum. [1] The term "immediate family members" means, with reference to a particular natural person, the spouse of that person, that person’s lineal ancestors (that is, parents, grandparents, etc.) and lineal descendants (that is, children, grandchildren, etc.), and the spouses (including surviving spouses) of that person’s lineal ancestors and lineal descendants. The term includes step and adoptive relationships.

Other Exchanges
For all other exchanges, a subscriber can qualify as a non-professional if they meet all of the following criteria. The Subscriber must:

a) Be an individual, natural person, or a qualifying trust;

b) Receive and use Information solely for his/her personal and private use, relating to his/her own investment portfolio, and does not use the Information for business purposes, such as commercial securities trading or the professional management of third-party assets;

c) Not be a securities professional. Securities professionals are:

a. registered or qualified in any capacity with the Securities and Exchange Commission, the Commodities Futures Trading Commission, any state securities agency, regulatory or self-regulatory body, any securities exchange or association, or any commodities or futures contract market or association; or

b. engaged as an “investment adviser” as that term is defined in Section 202(a)(11) of the Investment Advisors Act of 1940 (whether or not registered or qualified under that Act); or

c. employed by a bank or other organization exempt from registration under federal or state securities laws to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt; or

d. operates a credit or financial services institution;

d) For a natural person who works outside of the United States, not perform the same functions as would disqualify such person as a Non-Professional User if he or she worked in the United States;

e) Not distribute, furnish or make available the Information to third parties; and

f) Executes the subscriber agreement, if any, in its own name, in the Subscriber’s personal capacity.

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