OPTIONS PRICE REPORTING AUTHORITY
NONPROFESSIONAL SUBSCRIBER APPLICATION AND AGREEMENT
(Last
Sale and Quotation Information for Personal Nonbusiness Use Only)
TO:
(Name and Address
of Vendor)
The
undersigned (“Applicant”) hereby applies to the Vendor named above (“Vendor”)
for approval as a Nonprofessional Subscriber to receive for personal
nonbusiness use current options last sale information and current options
quotation information (the “Information”) published by the Options Price Reporting
Authority (“OPRA”) pursuant to a Plan declared effective by the Securities and
Exchange Commission. In reviewing and
approving this Application and Agreement, Vendor is authorized to act on behalf
of the OPRA participants, which are those national securities exchanges and
associations who, from time to time, are parties to said Plan. Applicant acknowledges that all
representations and agreements made herein and all payments made hereunder are
for the benefit of OPRA, OPRA’s processor and the OPRA participants.
For
the purpose of this Application and Agreement, Applicant hereby represents and
agrees as follows (type or print all answers; attach separate sheets if
necessary):
1. Applicant’s full name and
residence address:
2. Name
and address of Applicant’s employer(s) and/or Applicant’s other business
address(es):
3. Location
where the Information is to be received by Applicant (state “Portable” if
Information is to be received on portable equipment):
4. A
description of the equipment to be used by Applicant in receiving the
Information (identify number and types of devices; include mfr. and model no.
if available):
5. As a
condition of being approved as a Nonprofessional Subscriber, Applicant
represents and agrees that the following statements are and will continue to be
true for so long as Applicant receives Information as a Nonprofessional
Subscriber:
(a) Applicant
is making this Application and Agreement in his or her own individual capacity
and not on behalf of a firm, corporation, partnership, trust or association.
(b) Applicant
shall use the Information solely in connection with his or her individual
personal investment activities and not in connection with any trade or business
activities.
(c) Applicant
shall receive the Information only at the location and via the equipment
identified in Items 3 and 4 above, and shall not furnish the Information to any
other person.
(d) Applicant
is not a securities broker-dealer, investment advisor, futures commission
merchant, commodities introducing broker or commodity trading advisor, member
of a securities exchange or association or futures contract market, or an
owner, partner, or associated person of any of the foregoing.
(e) Applicant
is not employed by a bank or an insurance company or an affiliate of either to
perform functions related to securities or commodity futures investment or
trading activity.
6. For
the privilege of receiving the Information, Applicant agrees to pay to Vendor
for the benefit of the OPRA participants the OPRA Nonprofessional Subscriber
Fee in such amount and at such times as shall be established by OPRA from time
to time, plus any applicable federal, state or local taxes. This Fee shall be in addition to any charges
imposed by Vendor. OPRA shall provide
notice to Vendor of any change in this Fee not less than 30 days prior to the
effectiveness of such change. Vendor shall be responsible for notifying its
Nonprofessional Subscribers of all Fee changes.
7. Applicant
acknowledges that the Information is and shall remain the property of the
respective exchange or other market on which a reported transaction took place
or a reported quotation was entered, and Applicant shall make no use of the
Information except in compliance with the terms of this Application and
Agreement.
8. NEITHER
OPRA, OPRA’S PROCESSOR NOR ANY OPRA PARTICIPANT GUARANTEES THE TIMELINESS,
SEQUENCE, ACCURACY OR COMPLETENESS OF ANY OPTIONS INFORMATION, AND NEITHER
OPRA, OPRA’S PROCESSOR NOR ANY OPRA PARTICIPANT SHALL BE LIABLE IN ANY WAY TO
APPLICANT OR TO ANY OTHER PERSON FOR ANY LOSS, DAMAGES, COST OR EXPENSE WHICH
MAY ARISE FROM ANY FAILURE OF PERFORMANCE BY OPRA, OPRA’S PROCESSOR OR ANY OPRA
PARTICIPANT, OR FROM ANY DELAYS, INACCURACIES, ERRORS IN OR OMISSIONS FROM ANY
OPTIONS INFORMATION OR THE TRANSMISSION OR DELIVERY THEREOF, WHETHER OR NOT DUE
TO ANY NEGLIGENT ACT OR OMISSION ON THE PART OF OPRA, OPRA’S PROCESSOR OR ANY
OPRA PARTICIPANT. IN NO EVENT SHALL
OPRA, OPRA’S PROCESSOR OR ANY OPRA PARTICIPANT BE LIABLE FOR ANY INCIDENTAL,
SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO LOST
PROFITS, TRADING LOSSES, OR DAMAGES RESULTING FROM INCONVENIENCE OR LOSS OF USE
OF THE SERVICE.
9. Applicant’s
privilege of receiving the Information hereunder may be terminated by Applicant
or by Vendor upon 30 days written notice from the terminating party to the
other party, and shall be terminated immediately at any time that Vendor or
OPRA determines that Applicant is not in compliance with this Application and
Agreement or that any of Applicant’s representations herein are not true. Upon a determination by Vendor or OPRA that
Applicant received access to Information as a Nonprofessional Subscriber during
any period when Applicant did not meet the qualifications for such access, within
30 days of receipt of written notice of such determination Applicant shall pay
to OPRA the full amount of OPRA’s Professional Subscriber fee for the period
during which Applicant had access to the Information, less Applicant’s
Nonprofessional Subscriber fees for such period actually received by OPRA.
10. Nothing
herein shall be deemed to prevent or restrict any OPRA Participant from
discontinuing to furnish options last sale information or quotation information
for dissemination nor to restrict OPRA from making such changes in the speed of
transmission, the characteristics of the electrical signals representing the
Information or the manner of disseminating the same, as OPRA shall from time to
time determine to be appropriate; but in the event of any such discontinuance
or change, OPRA shall give such notice thereof to Vendor as is reasonable under
the circumstances.
11. Applicant
agrees to inform Vendor promptly in writing at its address set forth above of
any changes in the information provided herein and to furnish Vendor any
additional information requested by it in connection with Applicant’s receipt
of the information.
(Applicant’s
Signature)
(Type
or Print Applicant’s Name)
APPROVED:
Vendor
By:
Dated:
11/98