DriveWealth, LLC. („Supplier“) undertakes to provide you with „market data“ under the terms of this agreement. By executing this contract in the area listed below, you agree to comply with these terms and conditions. Section 1 contains the terms and conditions of applicability. Section 2 applies to the extent that the subscriber receives and uses market data that is provided as non-professional subscribers under this agreement. Or something like that. There are four different agreements for four different exchanges, and they are all as confusing as you might imagine. You can read copies of the agreements on TD Waterhouse`s website at the address — just click on the link on the homepage. That`s a good point. Why don`t brokers oppose the stock exchanges and tell them that they should put the agreements in favour of something more concise and understandable? Welcome to The Globe and Mail`s commentary community. It is a space where subscribers can interact with each other and Globe employees. This time, TD takes a user-friendly approach, where people have access to their accounts, whether or not they sign the four Exchange subscriber contracts, one for the Canadian exchanges and the other for the New York and American Stock Exchanges, The Nasdaq and the Option Price Reporting Authority.
3. Information is granted only for the personal use of the non-professional subscriber and the internal professional use and/or personal use of the professional subscriber. By telling the provider that the subscriber is a non-professional subscriber or by continuing to receive the information at a non-professional rate, the subscriber confirms to the provider and the Nasdaq that the subscriber meets the definition of the non-professional subscriber referred to in paragraph 1. The subscriber will immediately notify the Seller in writing of any change in name, place of residence or place of business where the information is received. The subscriber cannot sell, rent, equip or give access to other people or other offices or places. The subscriber will not participate in the exploitation of illegal activity; use or authorize the use of information or some of it for illegal purposes; or violates NASD rules. Business subscribers may provide customers, on a non-continuous basis, with limited amounts of information: through written advertising, correspondence or other literature; either during voice telephony, which does not involve computerized language, automated information query system or similar technologies. The subscriber may not present the information provided in an unfair, misleading or discriminatory format. The subscriber takes appropriate security measures to prevent unauthorized persons from accessing the information. Some brokers, including E-Trade Canada, have already accepted the agreements. Others, including Merrill Lynch HSBC, Qtrade Investor and Credential Securities, claim that their clients already signed the agreements when they opened their online accounts.
People in the online brokerage world say that over the past 18 months, major stock exchanges have become more militant in encouraging online brokerage clients to abide by their standard subscriber agreements. No, no price. Some online brokers have calculated offers in real time earlier, but this practice is fortunately faded. Now, the cost of using offers in real time may be that you accept legal agreements that say you don`t expire and that you sell offer data to third parties, and that you won`t sue a stock exchange if it issues incorrect data. TD says customers have 30 days to sign the agreements once they are made available on their online trading site of web brokers.