By completing and submitting this Agreement, you are requesting to obtain from Pershing LLC (“Pershing”) a market data service (the “Service”) that provides access to current options for the latest sale and offer information and related information (“OPRA Data”) published by OPRA in accordance with a plan declared effective by the Securities and Exchange Commission. Upon review and approval of this Agreement, the Broker/Dealer is authorized to be on behalf of the “OPRA Participants”, which are the national stock exchanges that are from time to time party to this Plan. The person who acts from time to time as a data processor on behalf of the OPRA is referred to as an “OPRA subcontractor”. Kee added that the exchange agreement is a standard document widely used by the EST. TD says clients have 30 days to sign the agreements as soon as they are made available on their online trading site Web Broker. This should be done in mid-April. At the end of the 30 days, customers are prevented from receiving offers in real time until they sign the agreements. At the beginning of the exchange process, a definition of the term “non-professional” was made available to you. If you are not a professional under this definition, OPRA`s fees to brokers/dealers for your use of OPRA data may be capped and you may be entitled to pay lower fees to brokers/dealers.
Welcome to The Globe and Mail`s comment community. It`s a space where subscribers can interact with each other and with Globe employees. Authorization to provide Network A market data to subscribers via controlled devices (including AMEX). The first customers of the NYSE must also sign the NYSE Professional Subscriber Agreement (below). Several of the largest online brokers have confirmed they will enter into agreements for clients next month, including TD Waterhouse, Royal Bank Action Direct, BMO InvestorLine and Scotia Discount Brokerage. Steve Kee, a spokesman for the EST, said the term subscriber was for the online broker and not the customer, but there is no doubt that the clause is confusing. According to TD, each exchange now requires you to accept the deal to get real-time prices for their listed shares. If TD customers decide not to accept, they must make offers that are delayed by 15 or 20 minutes depending on the exchanges. People in the online brokerage world say that over the past 18 months, major exchanges have become more militant about incentivizing online brokerage clients to stick to their standard subscriber agreements. 1.
DEFINITION OF MARKET DATA – For all purposes of this Agreement, “market data” means (a) information relating to the last sale and listing of securities listed on a national stock exchange (b) information relating to the final sale and quotation of bonds and other shares, as well as information on indices and other markets, such as national stock exchanges and national federations of securities (respectively), registered in the United States; provide an “SRO authorization”) and, from time to time, call “market data”; and (c) any information resulting from such information. 1. The word “Nasdaq” stands for The Nasdaq Stock Market, Inc. and its related companies. The term “information” means certain data and other information: in relation to securities or other financial instruments, products, vehicles or devices; either in respect of persons regulated by Nasdaq or the activities of Nasdaq; or collected by Nasdaq from other sources….