TERMS AND CONDITIONS FOR USE OF WEBSITE, PRIVACY POLICY AND DISCLAIMER

Important Note:
This document forms legal agreement between you and ICICI Securities Limited (he
reinafter referred to as "ISEC"). It grants certain rights and imposes certain o
bligations on you in connection with your use of the Website www.icicidirect.com
(the "Site") for the purposes of trading in U.S. Equities and Options through P
enson Financial Services (hereinafter referred to as "Clearing Broker"). You sho
uld read this document carefully and only accept its terms if you understand and
agree with them. If you accept and agree with all of the terms, you should clic
k on the "I Accept" button below. If you do not agree to all of the terms, do no
t click on the "I Accept" button below, in which case you will not be able to us
e the Site.
Service:
The Site is owned by ICICI Bank Limited (India) and maintained by ISEC. ISEC has
enabled on the Site, trading in U.S. Equities and Options through the Clearing
Broker (hereinafter referred to as the "Service"). ISEC has exclusive and sole d
iscretion to select the customers who would be entitled to access and use the Se
rvice. Upon authentication on the Site, you may be directed to the Website of th
e Clearing Broker (the "Clearing Broker Site") for certain purposes or informati
on available on the Clearing Broker Site may be made available to you. The Clear
ing Broker owns the Clearing Broker Site. The terms and conditions if any of the
Clearing Broker Site that shall be in addition to these terms and conditions sh
all govern use of the Clearing Broker Site.
ISEC and the Clearing Broker shall have sole discretion to alter, modify, withdr
aw or suspend the Service (whether partly or wholly). The Service is provided on
an "As Is" basis. ISEC, ICICI Bank and their Affiliates disclaim any warranty o
f any kind, whether express or implied, as to any matter whatsoever relating to
the Service, including without limitation the warranties of merchantability, fit
ness for a particular purpose, and non infringement. Use of the Service shall be
at your sole risk. ISEC shall not be liable for non-availability or delay in th
e Service through the Site/Clearing Broker Site.
Information:
The information on this Site is provided "as is" and ISEC gives no warranties in
respect thereof. Specifically, but without limitation, ISEC does not warrant th
at you will be able to use the Site/Clearing Broker Site and/or the Service, or
that it will continue to be made available in its current or any other form at t
he current domain name or at any other domain name; or that access to the Site a
nd/or Clearing Broker Site and/or Service will be uninterrupted or error-free. I
SEC does not warrant that the Site/ Clearing Broker Site or any software, inform
ation or material of whatsoever nature available on or downloaded from the Site/
Clearing Broker Site or the server hosting the Site/ Clearing Broker Site, will
be free from viruses, defects or other harmful material, or will be compatible
with your equipment or fit for any purpose. It is your responsibility to use a s
uitable firewall and/or anti-virus software on any software or other information
or material that you may download from the Site/ Clearing Broker Site and to en
sure the compatibility of such software or material with your equipment or compu
ter systems.
ISEC does not undertake any liability for any irregularities, virus or damage to
any computer that results from accessing, availing or downloading of any inform
ation or software from this Site/ Clearing Broker Site.
Whilst ISEC has taken all reasonable care to ensure the information contained in
this Site is accurate, neither ISEC nor any of its agents or licensors provide
any guarantee or make any representation as to the accurateness or completeness
of any information, news or opinions contained on or provided in connection with
the Site. The Site may be susceptible to unauthorised additions, deletions or a
lterations by third parties to the Site. We cannot guarantee that any informatio
n displayed on the Site has not been changed or modified through malicious attac
ks or "hacking". ISEC is not responsible for any errors or omissions or for the
results obtained from the use of such information or for any technical problems
you may experience with the Site. You are responsible for the security of any da
ta that you transfer to or from the Site/ Clearing Broker Site. Neither ISEC nor
any of its agents or licensors shall be responsible for any loss or damage caus
ed, directly or indirectly, by your use of the Site/ Clearing Broker Site or of
the information contained on or provided to you pursuant to your use of the Site
(or through links to other web sites owned and operated by third parties or oth
erwise). ISEC disclaims all conditions, warranties or other terms whether expres
sed or implied by statute, custom or usage (including without limitation, warran
ties as to satisfactory quality, fitness for purpose or skill and care) relating
to the Site and the information contained in or omitted from the Site.
This Site may display certain real-time and/or delayed quotes, news or other fin
ancial market information (collectively, "Market Information") that has been ind
ependently obtained from third parties, financial publishers, various financial
markets including stock exchanges and their affiliates and other providers (coll
ectively, "Market Information Providers"). ISEC does not guarantee or certify th
e accuracy, completeness, timeliness or correct sequencing of the Market Informa
tion made available on or through the Site. You agree that neither ISEC nor the
Market Information Providers shall be liable in any way for the accuracy, comple
teness, timeliness or correct sequencing of any Market Information, or for any d
ecision made or action taken by you based upon any Market Information.
Neither ISEC nor any of its agents or licensors shall be liable for any direct,
indirect, incidental, special or consequential loss or damages (including, witho
ut limitation for loss of profit, business opportunity or loss of goodwill) what
soever, whether in contract, tort, misrepresentation or otherwise arising from t
he use of the Site/ Clearing Broker Site or the information contained on the Sit
e/ Clearing Broker Site; your inability to use the Site/ Clearing Broker Site at
any time and any error in the provision of the Site/ Clearing Broker Site; unau
thorised access to or alteration of the Site/ Clearing Broker Site or any inform
ation or data transmitted in relation to the Site/ Clearing Broker Site; any com
puter virus transmitted through the Site/ Clearing Broker Site; third party serv
ices outside ISEC's reasonable control (including, but not limited to, telephone
and browser services and your use of email communications to contact or instruc
t ISEC/Clearing Broker, and any delay in ISEC's/clearing Broker's receipt or con
firmation of such a communication, any interception of or changes to such a comm
unication and any reasonable delay in acting on such a communication), whether s
uch services are used by you to access the Site/ Clearing Broker Site or otherwi
se; your use of and/or reliance on other web sites to which you have gained acce
ss by means of hyperlinks published on the Site/ Clearing Broker Site; any inacc
urate information, material or opinions published on the Site/ Clearing Broker S
ite (or accessed via the Site/ Clearing Broker Site) or your reliance thereon. F
or the avoidance of doubt this provision shall apply whether or not the relevant
loss or damage arises by reason of ISEC's negligence.
Updation on the Site:
The information available on the Site is subject to change without notice. ISEC
expressly disclaims any obligation to keep the information available on or throu
gh the Site up to date, free of errors or viruses or to maintain uninterrupted a
ccess. ISEC may stop producing or updating any part of the Site without notice.
Some of the screens on the Site may not automatically refresh themselves. Inform
ation may change at any time while you are viewing a screen, but your screen vie
w may not be updated to reflect a change in information. You are responsible for
 ensuring that you are viewing the most current data on any and all screens. ISE
C shall not be responsible for the display on your access device screen of the i
nformation contained in the Site. At all time, you should be aware of the possib
ility of, and be responsible for, incomplete screen views or printouts. You are
responsible for scrolling your viewing screens up, down and sideways to ensure t
hat you are viewing or printing all portions of pertinent pages. The default vie
wing preferences of your browser or your access device may not show entire pages
. ISEC assumes no responsibility to provide any training regarding the use of th
e Site.
Each time you wish to end a session on the Site, you should use the "Logout" com
mand, close all open browser windows/tabs and close your web browser.
System functionality and software
ISEC or its Affiliates shall not be liable for any damages or loss arising out o
f or in connection with the use of the Site/ Clearing Broker Site or its non-use
or non-availability or computer failure or malfunction, error, omission, interr
uption, transmission, computer virus, communications line failure, theft or dest
ruction or unauthorized access to, alteration of, or use of information, whether
resulting, in whole or in part, from or relating to the Service offered.
ISEC gives no guarantees or representation as to, and shall have no liability fo
r, any electronic content delivered by any third party, including, without limit
ation, the accuracy, subject matter, quality or timeliness of any electronic con
tent on the Site/ Clearing Broker Site. ISEC shall not be responsible for the co
ntents of any linked site or any link contained in a linked site, or any changes
or updates to such sites. The links being provided to the customer are only for
convenience, and the inclusion of any link does not imply endorsement by ISEC o
f the site, or its content or the sponsoring organization. No judgment or warran
ty or representation is made with respect to the accuracy, timeliness, or suitab
ility of the content of other services or sites to which these screens link, and
ISEC shall not be responsible therefor.
ISEC shall not be liable if you download any information or software from the Si
te/ Clearing Broker Site or if you make a copy, modify, upload, download, transm
it, publish or remove or obscure any intellectual property, including trademarks
, copyright or other notices or legends contained in any such information or oth
erwise distribute content from the Site/ Clearing Broker Site.
You may need to load certain third party software onto your access device in ord
er to utilise certain functionality within the Site. In certain instances, for c
onvenience, ISEC may provide links to the websites where such software may be av
ailable. ISEC cannot assure the performance, settings, features, compatibility,
lack of conflict, functionality or continued availability of any such software.
If you wish to download any such software, please follow the directions on the t
hird party website where such software is available. ISEC shall not be liable fo
r any damages arising out of your downloading or using any such software.
Account data
All account data shown is provided as a convenience and for your information, bu
t is not the official notice or record of your account activity with the Clearin
g Broker. Your Clearing Broker account notices and account statements remain the
official form of notice or record. ISEC does not guarantee delivery of notices
or statements through the Site/ Clearing Broker Site, or the completeness of the
information provide therein. Therefore, any and all account data provided throu
gh the Site/ Clearing Broker Site is subject to adjustment and correction, and s
hould not be relied upon for taking any action without prior confirmation of its
accuracy with your ISEC representative. ISEC shall not be responsible or liable
for any damage that could result from your taking any action without confirming
the accuracy of the account data provided via the Site/ Clearing Broker Site.
User conduct
When accessing and using any information provided on this Site/ Clearing Broker
Site, you may not (to the extent you may now or in the future be entitled to do
so) upload, post or submit to or transmit or otherwise publish through the Site/
Clearing Broker Site any content or information which (a) is unlawful, threaten
ing, abusive, libellous, defamatory, obscene, pornographic or otherwise objectio
nable information of any kind, or which may be reasonable considered to be so. T
his includes without limitation any transmissions constituting or encouraging co
nduct that would constitute a criminal offence, give rise to civil liability or
otherwise violate any national or international law; (b) restricts or inhibits a
ny other user from using the Site/ Clearing Broker Site; (c) infringes the right
s (including, without limitation, intellectual property rights such as copyright
, trade marks and patents) of third parties; (d) contains a virus or other harmf
ul component; (e) contains advertising of any kind; or (f) constitutes or contai
ns false or misleading indications of origin or statements of fact.
Copyright information
Unless stated otherwise, all intellectual property or other proprietary rights i
n this Site are either owned by ISEC or made available to ISEC under licence. Th
ese include, without any limitation, copyright and any other intellectual proper
ty rights in the graphic images, buttons, layout and text contained in the Site.
No visitor may use such trademarks or other devices without the prior written c
onsent of ISEC. Other product and company names reproduced on the Site may be th
e trademarks (registered or otherwise) of the respective owners, and all rights
in the material on any other websites which you may be able to link to from the
Site are owned by third parties.
You as a visitor to the Site may view the Site and print hard copies of material
on it for your personal use. The contents of the Site are not available for com
mercial use. All other copying or distribution of any part of the Site whether i
n electronic, hard copy or other format is prohibited and all other rights are r
eserved.
You may not sell, publish, reproduce, distribute, re-transmit, sub-licence, assi
gn or otherwise use any portion of the Site without the prior written consent of
ISEC
Indemnity
You shall indemnify ISEC for any loss, liability or cost ISEC suffers as a resul
t of your use of the Site or any breach of these terms and conditions, or any wa
rranties given by you.
You agree that the maximum liability of ISEC and its Affiliates shall be subject
to the amount of fees paid by you for the Service through the Site in respect o
f the product/service to which the claim relates.
You, ISEC or its Affiliates shall not be liable to you or any other person for a
ny direct, indirect, exemplary, punitive or consequential damages or for loss of
data, income or profit, loss of goodwill, etc.
Privacy policy and data protection
ISEC is aware that you may wish to be informed about how any personal data and f
inancial information that you may send via the internet to the Site is treated.
This privacy policy explains all of ISEC's reasonable precautions to keep your d
ata safe.
When you visit the Site, ISEC may collect information about you which may not pe
rsonally identify you but which may be helpful for improving the operation of th
e Site. Such information may be collected through "traffic data" and may entail
the use of "cookies", "IP addresses" or other numeric codes used to identify you
r computer.
We may also collect personal data from you through the Site when you contact us
for further information. Such information may be retained by us for general rese
arch purposes. We may, from time to time, send you further information relating
to ISEC's products or services that we feel may be of interest to you. In additi
on, we may transfer your data to affiliates or selected third parties where this
is necessary in order to provide you with the information which you have expres
sed an interest in to your usual contact at ISEC or through this Site. You may n
otify us at any time if you wish to cease receiving this further information by
contacting your usual contact at ISEC or by sending an email requesting this to
helpdesk@icicidirect.com.
As a means of processing your personal data for the purposes set out above, ISEC
may, if deemed appropriate, send the information which you provide to ISEC to a
ny of ISEC's affiliates located anywhere in the world where ISEC does business.
Your data may be forwarded to a country other than your country of residence. In
such circumstances ISEC will endeavour to ensure that there are adequate levels
of protection for your data, taking into account applicable legal and regulator
y restrictions, including those relating to banking secrecy and data protection.
However, such countries may have a lower level of data protection than exists i
n your country of residence.
ISEC implements various security measures in relation to its processing and tran
sfer of personal data, and within ISEC, your data will be stored and transmitted
in a protected environment. ISEC undertakes to take all reasonable steps in ord
er not to allow your personal data to be seen by third parties, other than those
which have been engaged by ISEC to provide services to you and, for certain ser
vices. However, the nature of the internet is such that the data may in some cir
cumstances flow over networks without full security measures and could be access
ible to unauthorised persons. ISEC accepts no responsibility or liability for th
e security of your data whilst in transit via the internet to the Site.
By clicking on the "I Accept" button you confirm that you consent to the uses of
information relating to you set out above and you authorise ISEC to make availa
ble, transfer and disclose such information to third parties in the manner descr
ibed above.
No offer
Nothing contained in this Site shall constitute an offer by ISEC, or a solicitat
ion of any offer by any customer, or a recommendation to buy or sell any investm
ents or to effect any transaction or conclude any other legal act whatsoever. No
thing in this Site is intended to constitute legal, tax, securities or investmen
t advice, or opinion regarding the appropriateness of any investment, or a solic
itation for any product or service. The use of any information set out in this S
ite is entirely at your own risk. The investments/products discussed or recommen
ded in the market analysis, research reports, etc. may not be suitable for all i
nvestors. Any investment decision should be made following the receipt of approp
riate financial, tax, accounting, legal and other professional advice, and not o
n the basis of anything contained on this Site. The information and opinions con
tained on this Site are provided without any express or implied warranty.
The display, description or references to any products, services, publications o
r links on the Site shall not constitute an endorsement by ISEC of such products
, services, publications or links. The data and information provided on the Site
is not to be construed as an advice, professional or otherwise, and should not
be relied upon as such.
Confidentiality
The information contained in this Site is published for personal use and informa
tional purposes only on a confidential basis, and does not carry any right of pu
blication or disclosure to any third party. You as a visitor to the Site may vie
w the Site and print hard copies of material on it for your personal use. The co
ntents of the Site are not available for commercial use. All other copying or di
stribution of any part of the Site whether in electronic, hard copy or other for
mat is prohibited and all other rights are reserved. In using this Site you unde
rtake not to reproduce or distribute any information contained herein in whole o
r in part, nor to disclose any of its contents (except to its professional advis
ers) without the prior written consent of ISEC, who you agree has the benefit of
this undertaking. You and your professional advisers will keep permanently conf
idential information contained herein and not already in the public domain.
Reliance The information published on this Site is subject to updation, completi
on, revision, verification and amendment without notice and such information may
change materially. ISEC will take reasonable steps to ensure the reliability of
the information provided on this Site; however, ISEC makes no representation th
at any information or opinions expressed on this Site are accurate, complete or
up to date and bears no responsibility for the rectification of errors, which ma
y occur from time to time. ISEC does not take any responsibility for any informa
tion on this Site provided by third parties. ISEC shall not be obliged to remove
outdated information from this website, or expressly mark it as being outdated.
No reliance may be placed for any purpose whatsoever on the information contain
ed in this presentation or on its completeness.
The terms of any product referenced on this Site are governed by the applicable
documents establishing such terms. In the event of any inconsistency between the
information on this Site regarding a particular product and the terms specified
in the documents establishing the terms of issue or contract, the terms so spec
ified shall prevail.
Legal restrictions
The offering, sale and distribution of the products shown on this Site will be r
estricted by law in certain jurisdictions. The content of this Site is not direc
ted at any person in any jurisdiction where publication or availability of this
Site is prohibited. Persons in respect of whom such prohibitions apply must not
access this Site.
Past performance and projections
Any projections appearing on this Site have been prepared by ISEC (or its servic
e providers) based upon projections, which have been determined in good faith by
ISEC. There can be no assurance that such projections will prove to be accurate
. ISEC does not accept any responsibility for any errors whether caused by negli
gence or otherwise or for any loss or damage incurred by anyone in reliance on a
nything set out in this Site. The information in this Site reflects prevailing c
onditions and our views as of this date, all of which are subject to change. In
preparing the information available on this Site we have relied upon and assumed
, without independent verification, the accuracy and completeness of all informa
tion available from public sources or which was provided to us or which was othe
rwise reviewed by us. Please do not consider past performance as a guide to futu
re performance.
Password use
You shall be solely authorised to use the Password, and shall be responsible at
all times for exercising security controls over the Password. You agree to refra
in from distributing the Password in any manner. ISEC shall not be liable for an
y damages arising from any unauthorised use or sharing of your Password. If your
Password is stolen, or if your security becomes otherwise compromised, please c
ontact ISEC immediately.
Changes to terms and conditions
ISEC reserves the right to make any changes to these terms and conditions at any
time. Should ISEC wish to do so, it will endeavour to notify you of these propo
sed changes, and you will be asked to accept these changes. If you do not wish t
o accept any such proposed changes, ISEC reserves the right to deny you access t
o the Site. ISEC invites you to consult these terms and conditions from time to
time, to familiarise yourself with the changes and updated terms and conditions.

Miscellaneous
ISEC may terminate this agreement at any time with or without notice to you, in
which case you will no longer be able to access the Site.
If a competent authority finds that any or part of these terms and conditions ar
e invalid, unlawful or unenforceable to any extent, ISEC shall delete or replace
the relevant terms and remaining terms and conditions shall continue to be vali
d and enforceable to the fullest extent permitted by Indian Law.
No act, omission or delay by ISEC shall be a waiver of its rights or remedies un
der these terms and conditions or at law unless otherwise agreed in writing by I
SEC.
ISEC may assign, subcontract or transfer all or any of its rights and obligation
s under these terms and conditions (including to ISEC's successors or assigns, a
ny of ISEC's Affiliates or their successors or assigns located anywhere in the w
orld) without requiring further consent from you, and upon such assignment, sub-
contracting or transfer, ISEC may be relieved of any further obligation to you u
nder them. To the extent required and at ISEC's reasonable request, you agree to
do anything reasonably necessary or beneficial to give effect to such assignmen
t, sub-contracting or transfer.
A person who is not a party to these terms and conditions (other than an affilia
te or nominee of ISEC) shall have no right to enforce them.
These terms and conditions and your relationship with ISEC is governed in accord
ance with the laws of India, without regard to the laws regarding conflicts of l
aw. The Competent Courts of Mumbai shall have exclusive jurisdiction over any di
spute arising out of your use of the Site or arising from or connected with this
agreement and you hereby submit to the jurisdiction of such Competent Courts.
If you have read, and understand and accept the terms and conditions of the agre
ement, please click on the "I Accept" button below.

NASDAQ Subscriber Agreement

DISCLOSURE: PLEASE READ
Subscribers must sign a contract entitled The Nasdaq Stock Market, Inc. ("Nasdaq
") Subscriber Agreement ("Agreement") in order to receive Information [see defin
ition in Paragraph [1] of the Agreement] from Nasdaq. While all terms are import
ant, please particularly note the following. For more information regarding each
term, the paragraph number at the end of each term refers to the paragraph in t
he Agreement where more information can be located.
RESTRICTIONS ON USES & TRANSFER: Subscribers may not provide access to Informati
on or transfer the Agreement to others. The Information is only for personal non
-professional use or, if you are a Professional Subscriber (see definition in Pa
ragraph [1] of the Agreement) for internal business use and/or personal use. [Pa
ragraph 3]
MOST TYPES OF DAMAGES ARE EXCLUDED AND REMAINING DAMAGES ARE LIMITED: Nasdaq is
not liable for trading losses, lost profits or incidental, consequential or othe
r indirect damages, even if the Information is untimely or incorrect. Other dama
ges (if any), are strictly limited (in contract, tort, or otherwise) to a capped
amount. [Paragraphs 9 and 10]
NO IMPLIED OR STATUTORY WARRANTIES OR DUTIES: All warranties and duties (if any)
are eliminated. There are no express warranties except for a Limited Warranty r
egarding efforts only. STOCK QUOTES MIGHT NOT BE CURRENT OR ACCURATE. [Paragraph
9]
SUBSCRIBERS PROVIDE AN INDEMNITY: Subscriber indemnifies and holds harmless Nasd
aq for any Claims or Losses (see definition in Paragraph [1] of the Agreement) r
esulting from Subscriber's breach of the Agreement, for Subscriber's infringemen
t of a third party's intellectual property rights, or from any third party suit
related to Subscriber's use or receipt of the Information. [Paragraph 13 and 14]

MARYLAND LAWS AND COURTS APPLY: Everything relating to the Agreement is governed
by the laws of the United States and the State of Maryland and any disputes can
only be heard in Maryland. [Paragraph 23]
NO ORAL AMENDMENTS & ONLY NASDAQ MAY AMEND: The Agreement may not be altered ora
lly and may be altered by Nasdaq pursuant to an Agreement procedure which includ
es notice either to Subscriber or to Vendor. Failure to terminate the Agreement
before, or use of Information after, an amendment will be Subscriber's consent (
or confirmation of an earlier consent) to the amendment. [Paragraph 17 and 21]
VENDORS CAN IMPACT SUBSCRIBER'S RIGHTS BUT NOT NASDAQ'S RIGHTS: Vendor does not
have authority to change the Agreement. Vendors are obligated to provide notice
of Nasdaq changes to Subscriber, but if they do not, Nasdaq's notice to Vendor i
s still effective, as to Subscriber including notice of cancellation. [Above Par
agraph 1 and Paragraph 17]
The Agreement appears below. If you are at least 18 years old, sign it as either
a Professional or a Non-Professional Subscriber by signing your name or other s
ymbol of your signature on the 'Signature' line in the appropriate signature par
t(s) below.
SIGNATURE SECTION: This section incorporates all terms of The Nasdaq Subscriber
Agreement by this reference.
Do you qualify as a non-professional user as defined in paragraph [1] of the agr
eement?
Yes
No
A. Mandatory for all Subscribers:
Enter name of Subscriber:
Enter name or other symbol of your signature:
Enter Date:
B. Agent use only (Complete only if signed on behalf of the subscriber):
Enter name of person signing for subscriber:
CEO COO Managing Director President Senior Vice President Vice President Ag
ent
Enter Title only if you have the same contracting authority as the listed titles
but your title is different:
If you signed the Agreement, make a copy for your records (electronically or oth
erwise). If you did not intend to sign, or signed electronically in error, click
on "Cancel". To confirm your signature and the accuracy of the information abov
e click on "Signature Confirmed" which will submit the Agreement and legally bin
d Subscriber to the Agreement.
AGREEMENT FOR
MARKET DATA DISPLAY SERVICES
(Usage-Based Services/Nonprofessional Subscriber Status)

(Electronic Version)

Penson WorldWide, Inc. ("Vendor") agrees to make "Market Data" available to you
pursuant to the terms and conditions set forth in this agreement. By manifesting
your assent in the space indicated below, you ("Subscriber") agree to comply wi
th those terms and conditions. Section 1 sets forth terms and conditions of gene
ral applicability. Section 2 applies insofar as Subscriber receives and uses Mar
ket Data made available pursuant to this Agreement as a Nonprofessional Subscrib
er.
SECTION 1: TERMS AND CONDITIONS OF GENERAL APPLICABILITY
1. MARKET DATA DEFINITION - For all purposes of this Agreement, "Market Data" me
ans (a) last sale information and quotation information relating to securities t
hat are admitted to dealings on the New York Stock Exchange ("NYSE"), (b) such b
ond and other equity last sale and quotation information, and such index and oth
er market information, as United States-registered national securities exchanges
and national securities associations (each, an "Authorizing SRO") may make avai
lable and as the NYSE may from time to time designate as "Market Data"; and (c)
all information that derives from any such information.
2. PROPRIETARY NATURE OF DATA - Subscriber understands and acknowledges that eac
h Authorizing SRO and Other Data Disseminator has a proprietary interest in the
Market Data that originates on or derives from it or its market(s).
3. ENFORCEMENT - Subscriber understands and acknowledges that (a) the Authorizin
g SROs are third- party beneficiaries under this Agreement and (b) the Authorizi
ng SROs or their authorized representative(s) may enforce this Agreement, by leg
al proceedings or otherwise, against Subscriber or any person that obtains Marke
t Data that is made available pursuant to this Agreement other than as this Agre
ement contemplates. Subscriber shall pay the reasonable attorney's fees that any
Authorizing SRO incurs in enforcing this Agreement against Subscriber.
4. DATA NOT GUARANTEED - Subscriber understands that no Authorizing SRO, no othe
r entity whose information is made available over the Authorizing SROs' faciliti
es (an "Other Data Disseminator") and no information processor that assists any
Authorizing SRO or Other Data Disseminator in making Market Data available (coll
ectively, the "Disseminating Parties") guarantees the timeliness, sequence, accu
racy or completeness of Market Data or of other market information or messages d
isseminated by any Disseminating Party. Neither Subscriber nor any other person
shall hold any Disseminating Party liable in any way for (a) any inaccuracy, err
or or delay in, or omission of, (i) any such data, information or message or (ii
) the transmission or delivery of any such data, information or message, or (b)
any loss or damage arising from or occasioned by (i) any such inaccuracy, error,
delay or omission, (ii) non-performance or (iii) interruption in any such data,
 information or message, due either to any negligent act or omission by any Diss
eminating Party, to any "force majeure" (e.g., flood, extraordinary weather cond
itions, earthquake or other act of God, fire, war, insurrection, riot, labor dis
pute, accident, action of government, communications or power failure, equipment
or software malfunction) or to any other cause beyond the reasonable control of
any Disseminating Party.
5. PERMITTED USE - Subscriber shall not furnish Market Data to any other person
or entity and, subject to Paragraph 10, shall use Market Data only for its indiv
idual use in its business.
6. DISSEMINATION DISCONTINUANCE OR MODIFICATION - Subscriber understands and ack
nowledges that, at any time, the Authorizing SROs may discontinue disseminating
any category of Market Data, may change or eliminate any transmission method and
may change transmission speeds or other signal characteristics. The Authorizing
SROs shall not be liable for any resulting liability, loss or damages that may
arise therefrom.
7. DURATION; SURVIVAL - This Agreement remains in effect for so long as Subscrib
er has the ability to receive Market Data as contemplated by this Agreement. In
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wo sentences of Paragraph 8, survive any termination of this Agreement.
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and it shall be interpreted in accordance with those laws. This Agreement is su
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ct, and the joint-industry plans entered into pursuant to that act. This writing
contains the entire agreement between the parties in respect of its subject mat
ter. Subscriber may not assign all or any part of this Agreement to any other pe
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nts that it has legal capacity to contract and, if that person is manifesting as
sent on behalf of a proprietorship or a business, partnership or other organizat
ion, represents and warrants that he or she has actual authority to bind the org
anization.
ACCEPTED AND AGREED: I, the "Subscriber" to which the preceding terms and condit
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nd my agreement to comply with, those terms and conditions by "clicking" on the
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SECTION 2: NONPROFESSIONAL SUBSCRIBER

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"Nonprofessional Subscriber" means any natural person whom Vendor has determined
to qualify as a "Nonprofessional Subscriber" and who is not:
(a) registered or qualified with the Securities and Exchange Commission (the "SE
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d under that Act), nor
(c) employed by a bank or other organization exempt from registration under Fede
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her to be so registered or qualified if he or she were to perform such functions
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ACCEPTED AND AGREED: I, the "Subscriber" to which the preceding terms and condit
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his Section 2, that I understand them and that I hereby manifest my assent to, a
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following box:

Typical Features and Risk involved while investing in US Markets

There are certain typical features of US markets which need to be considered bef
ore investing:
Exchange Risk: Due to the fact that the investments are made in dollars, they ar
e subject to currency risk based on the movement of dollar price. So exchange lo
ss may be incurred on the portfolio.
Option Symbols:
There is no standard way for determining options root symbols, however there are
some general guidelines available for the same. For NYSE stocks, the options ro
ot and the stock root are usually the same. For example, IBM options begin with
IBM, and T options begin with T. Options roots, however, can never have more tha
n three letters. So options root symbols for NASDAQ stocks are different than th
e stock symbols. Microsoft, for example, has the symbol MSFT for the stock and M
SQ for the root options symbol. And Intel has INTC for the stock and INQ for the
options.
The last two letters after the options root symbol indicate (1) the options type
and expiration month and (2) the strike price.
One complication is that when a stock's price range is greater than $100, then t
he option root symbol has to change for every $100. Otherwise, the 105, 205 and
305 calls would have the same symbols, and that obviously cannot happen.
Another complication, is that the same strike-price options sometimes have diffe
rent root symbols. This typically occurs when there is 3-for-2 or other "non-eve
n" stock splits. When these splits occur, there are "non-standard" options in ad
dition to "standard" options. For standard options contracts, 100 shares typical
ly underlie the contract, and non-standard options will have some other quantity
. If a $60 stock splits 3-for-2, for example, then, after the split, there would
be standard $40 options covering 100 shares and non-standard options covering 1
50 shares. To distinguish between them they each have their own root symbol.

Different classes of shares: In US markets there are multiple classes of shares

for same company which may be common stock (there might be different classes in
common stock also) as well as preferred stock . These are listed as different sc
rips and have different prices. Please choose carefully before investing in thes
e.