NONPROFESSIONAL SUBSCRIBER DEFINITION
Subscriber" means any natural person who receives market data solely for his/her personal, non-
business use and who is not a “Securities Professional.” A “Securities Professional” includes an
individual who, if working in the United States, is:
- registered or qualified with the Securities and Exchange Commission (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.
- engaged as an "investment advisor" as that term is defined in Section 202 (a) (11)
of the Investment Advisor's Act of 1940 (whether or not registered or qualified
under that Act), or
- employed by a bank or other organization exempt from registration under Federal
and/or state securities laws to perform functions that would require him or her to
be so registered or qualified if he or 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.
Subscriber may not receive Market Data as a “Nonprofessional Subscriber” unless the vendor
providing that data to Subscriber first determines that the individual falls within the above definition.