Data and Third Party Notices

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Rev. Date January 1, 2024

Data Notices

Market Data Powered By SIX

Certain data provided by Preqin Ltd. Copyright 2024 Preqin Ltd. All Rights reserved.         

©2024 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.            

Certain data derived from data by Global Financial Data, Incorporated.             

Portions of the information contained in this display were supplied by Lipper, A Refinitiv Company, subject to the following: Copyright 2024 © Refinitiv. All rights reserved. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.             

Bloomberg Commodity IndexSM and its associated data, Copyright © 2024 Bloomberg Index Services Limited. Bloomberg® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Bloomberg does not approve or endorse this material or guarantee the accuracy or completeness of any information herein, nor does Bloomberg make any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, Bloomberg shall not have any liability or responsibility for injury or damages arising in connection therewith.            

Bloomberg fixed income indices and their associated data, Copyright © 2024 Bloomberg Index Services Limited. Bloomberg® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Bloomberg does not approve or endorse this material or guarantee the accuracy or completeness of any information herein, nor does Bloomberg make any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, Bloomberg shall not have any liability or responsibility for injury or damages arising in connection therewith.             

Source for hedge fund index data: HFR

Third Party Notices

The following terms apply to data owned by a third party that is delivered through this site or service (“Site”). These terms are binding on the subscriber and all of its users (collectively, “Subscriber”), and are incorporated by reference into Subscriber’s subscriber agreement with the provider of this Site, Two Sigma Investor Solutions, L.P. (“Provider”) (such subscriber agreement, the “Venn Subscriber Agreement”).

  1. MSCI Inc. (“MSCI”)

For data supplied or owned by MSCI, the following additional terms apply:

  1.  This data has been prepared and provided to you solely for your internal use and may not be redistributed in any form or manner to any third party other than as expressly permitted by this Agreement or as required by applicable law.

  2. THE DATA IS PROVIDED ON AN “AS IS” BASIS.  TWO SIGMA INVESTOR SOLUTIONS, LP, ITS INFORMATION PROVIDERS (INCLUDING WITHOUT LIMITATION MSCI INC.), AND ANY OTHER THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF THE DATA MAKE NO REPRESENTATION OR WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE DATA IN THIS REPORT (OR THE RESULTS TO BE OBTAINED BY THE USE THEREOF). TWO SIGMA INVESTOR SOLUTIONS, LP, ITS INFORMATION PROVIDERS (INCLUDING WITHOUT LIMITATION MSCI INC.) AND ANY OTHER THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF THE DATA EXPRESSLY DISCLAIM ANY AND ALL IMPLIED WARRANTIES OF ORIGINALITY, ACCURACY, COMPLETENESS, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

  3. YOU ASSUME THE ENTIRE RISK OF ANY USE IT MAY MAKE OF THE DATA. IN NO EVENT SHALL TWO SIGMA INVESTOR SOLUTIONS, LP, ITS INFORMATION PROVIDERS (INCLUDING WITHOUT LIMITATION MSCI INC.) OR ANY THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF THE DATA, BE LIABLE TO YOU, OR ANY OTHER THIRD PARTY, FOR ANY DIRECT OR INDIRECT DAMAGES, INCLUDUNG, WITHOUT LIMITATION, ANY LOST PROFITS, LOST SAVINGS OR OTHER INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THIS AGREEMENT OR YOUR INABILITY TO USE THE DATA, REGARDLESS OF THE FORM OF ACTION, EVEN IF TWO SIGMA INVESTOR SOLUTIONS, LP, ANY OF ITS INFORMATION PROVIDERS (INCLUDING WITHOUT LIMITATION MSCI INC.), OR ANY OTHER THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF THE DATA HAS BEEN ADVISED OF OR OTHERWISE MIGHT HAVE ANTICIPATED THE POSSIBILITY OF SUCH DAMAGES.

  4. Subscriber:
    1. represents that it will use Data provided by MSCI (“MSCI Data”) for internal purposes and will not be redistribute the MSCI Data in any form or manner to any third party;
    2. represents that it will not use or permit anyone else to use the MSCI Data in connection with the creating, managing, advising, writing, trading, marketing or promotion of any securities or other financial instruments or products based on or linked to (in whole or in part) the performance of any MSCI index, including, but not limited to, funds, synthetic or derivative securities (e.g., options, warrants, swaps, and futures), whether listed on an exchange or traded over the counter or on a private-placement basis or otherwise or to create any indices (custom or otherwise);
    3. represents that it will treat the MSCI Data as proprietary to MSCI.  Further, Subscriber acknowledges that MSCI is the sole and exclusive owner of the MSCI Data and any trade secrets, copyrights, trademarks and other intellectual property rights in or to the MSCI Data;
    4. represents that it will not (i) copy any component of the MSCI Data; (ii) alter, modify or adapt any component of the MSCI Data, including, without limitation, translating, decompiling, disassembling, reverse engineering or creating derivative works, or (iii) make any component of the MSCI Data available to any other person or organization (including, without limitation, Subscriber’s present and future parents, subsidiaries or affiliates) directly or indirectly, for any of the foregoing or for any other use, including, without limitation, by loan, rental, service bureau, external time sharing or similar arrangement;
    5. is obligated to reproduce on all permitted copies of the MSCI Data all copyright, proprietary rights and restrictive legends appearing on the Data;
    6. acknowledges that it assumes the entire risk of using the MSCI Data and agrees to hold MSCI harmless from any claims that may arise in connection with any use of the MSCI Data by Subscriber or its permitted affiliates;
    7. acknowledges MSCI may, in its sole and absolute discretion and at any time, terminate the Subscriber’s right to receive and/or use the MSCI Data;
    8. acknowledges MSCI, as a third party beneficiary of the Venn Subscriber Agreement, is entitled to enforce all provisions of such agreement relating to the MSCI Data.
e. THE MCSCI DATA ARE PROVIDED TO SUBSCRIBER ON AN “AS IS” BASIS.  PROVIDER, ITS INFORMATION PROVIDERS, AND ANY OTHER THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF THE MSCI DATA MAKE NO REPRESENTATION OR WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE MSCI DATA (OR THE RESULTS TO BE OBTAINED BY THE USE THEREOF).  PROVIDER, ITS INFORMATION PROVIDERS AND ANY OTHER THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF THE DATA EXPRESSLY DISCLAIM ANY AND ALL IMPLIED WARRANTIES OF ORIGINALITY, ACCURACY, COMPLETENESS, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE.
 
f. SUBSCRIBER ASSUMES THE ENTIRE RISK OF ANY USE SUBSCRIBER MAY MAKE OF THE MSCI DATA.  IN NO EVENT SHALL PROVIDER, ITS INFORMATION PROVIDERS OR ANY THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF THE MSCI DATA, BE LIABLE TO THE CUSTOMER, OR ANY OTHER THIRD PARTY, FOR ANY DIRECT OR INDIRECT DAMAGES, INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, LOST SAVINGS OR OTHER INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THIS AGREEMENT OR THE INABILITY OF THE SUBSCRIBER TO USE THE MSCI DATA, REGARDLESS OF THE FORM OF ACTION, EVEN IF PROVIDER, ANY OF ITS INFORMATION PROVIDERS, OR ANY OTHER THIRD PARTY INVOLVED IN OR RELATED TO THE MAKING OR COMPILING OF THE MSCI DATA HAS BEEN ADVISED OF OR OTHERWISE MIGHT HAVE ANTICIPATED THE POSSIBILITY OF SUCH DAMAGES.   
 
g. The Subscriber agrees to indemnify and hold harmless Provider, its information providers and any other third party involved in or related to the making or compiling of the MSCI Data, their affiliates and subsidiaries and their respective directors, officers, employees and agents from and against any claims, losses, damages, liabilities, costs and expenses, including reasonable attorneys’ fees and costs, as incurred, arising in any manner out of the Subscriber’s or any third party’s use of, or inability to use, the MSCI Data or any breach by Subscriber of any provision contained in the Venn Subscriber Agreement (including the Third Party Data Vendor Terms described in this Section 3).   
 
h. The MSCI Data are provided under the following copyright notice:
Copyright MSCI 2024.  All Rights Reserved. Without prior written permission of MSCI, this information and any other MSCI intellectual property may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used to create any financial instruments or products or any indices. This information is provided on an “as is” basis, and the user of this information assumes the entire risk of any use made of this information.  Neither MSCI nor any third party involved in or related to the computing or compiling of the data makes any express or implied warranties, representations or guarantees concerning the MSCI index-related data, and in no event will MSCI or any third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any use of this information.
 
 

2. SIX Financial Information USA Inc. (“SIX”)

For data supplied or owned by SIX, the following additional terms apply:

a. Subscriber agrees to use the product, services and data provided by SIX (the “SIX Products”) solely via this Site. Such usage shall be limited to Subscriber’s own internal, lawful purposes. Redistribution to, or use or access by any other person or entity, including but not limited to, any entity that is not principally owned by Subscriber is expressly prohibited.
 
b. Subscriber agrees that SIX (including its Data Sources (as defined below)) shall have no liability for the accuracy or completeness of the SIX Product via this Site or for any delays, interruptions, or omissions therein, and neither SIX nor any Data Source shall have any liability in connection with any termination of service (with or without notice). For the purposes of this Section 2, “Data Source” means sources from which SIX collects data, including without limitations, any securities and commodities exchanges; associations of securities and/or commodities dealers; providers of news services, commentary services and proprietary databases; and federal, state and local governmental agencies.
 
c. Subscriber agrees that its arrangement with Provider for receipt of the SIX Product is subject to termination without notice in the event that the certain license agreement between SIX and Provider’s affiliate is terminated for any reason.
 
d. Subscriber agrees to comply with any conditions, restrictions or limitations imposed by any of the Data Sources, including obtaining any applicable written approvals from the appropriate Data Sources or, in the absence of such required approval, accept termination of that portion of the SIX Product attributable to any such Data Source.
 
e. Subscriber acknowledges that the Data Sources described in the preceding paragraph may have the right to terminate provisions of the data to SIX and Provider with or without notice and that neither any such Data Source, SIX nor Provider shall have any liability in connection therewith.

 

3. Frank Russell Company (“Russell”)

The Russell Indexes are provided under the following notice:

a. Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and / or Russell ratings or underlying data and no party may rely on any Russell Indexes and / or Russell ratings and / or underlying data contained in this communication. No further distribution of Russell Data is permitted without Russell’s express written consent. Russell does not promote, sponsor or endorse the content of this communication.
 
b. The names of the Russell indices displayed and listed on this Site are a trademark of Frank Russell Company (“Russell”) and have been licensed to Provider. This Site is not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies (“LSEG”) (together the “Licensor Parties”) and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which this Site is based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with this Site. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Provider or to its clients. The Index is calculated by Russell or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein.


4. Bloomberg Index Services Limited (“BISL”)

For data supplied or owned by BISL (“Bloomberg Data”), the following additional terms apply:

Subscriber (1) is strictly prohibited from onward distribution of the Bloomberg Data; (2) is prohibited from the creation of derivative works using the Bloomberg Data, including the creation of any derived index; (3) exculpates BISL from all liability in connection with the use of this Site and/or the Bloomberg Data; (4) is bound by a market standard disclaimer for the benefit of Bloomberg, its affiliates and third party licensors as third party beneficiaries; and (5) is prohibited from using the Bloomberg Data in connection with the issuance, marketing and promotion of financial products that link (or endeavor to link) the returns of such financial products to the levels or returns of the Bloomberg Data.

The Bloomberg Commodity Index Total Return index is provided under the following notice:

“Bloomberg®” and “Bloomberg Commodity IndexSM” are service marks of Bloomberg Finance L.P. and its affiliates (collectively, “Bloomberg”).  The Bloomberg Commodity IndexSM has been licensed by Bloomberg and UBS Securities LLC (and together with its affiliates, collectively, “UBS”) for use for certain purposes by Provider.  Neither Bloomberg nor UBS are affiliated with Provider, and Bloomberg and UBS do not approve or endorse this material, or guarantee the accuracy or completeness of any information herein, or make any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

The Bloomberg Data (other than the Bloomberg Commodity Index Total Return index) are provided under the following notice:

Source:  Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). BARCLAYS® is a trademark and service mark of Barclays Bank Plc (collectively with its affiliates, “Barclays”), used under license. Bloomberg or Bloomberg’s licensors, including Barclays, own all proprietary rights in the Bloomberg Barclays Indices. Neither Bloomberg nor Barclays approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith

5. Morningstar Inc. (“Morningstar”)

For data supplied or owned by Morningstar, the following additional terms apply:

a. Certain of the information contained in the Site: (1) is proprietary to Morningstar Inc. and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.  Past performance is no guarantee of future results.
b. Notwithstanding anything to the contrary, any materials containing any portion of the Morningstar data and/or data derived from the Morningstar data that are generated by the Site, including internet web page reports, pdf reports, spreadsheets, graphs, charts, documents and any other reports and materials, that are provided in printed, electronic or any other form (collectively, “Product Output”) may only be distributed if all of the following conditions are met:
i. Product Output is incorporated into, and distributed as a value-add report or presentation, which must be created using a part of the functionality available in the Site.  The Product Output may not be distributed as a standalone product.
ii.Product Output is only distributed on a limited, ad hoc basis and not used as part of a general mailing or included in external websites or distributed in other mass communication vehicles or formats, including, but not limited to, advertisements.
iii.Product Output is not resold by Subscribers or their Authorized Representatives.


6. Hedge Fund Research, Inc. (“HFR”)

For data supplied or owned by HFR, the following additional terms apply:

a. Hedge Fund Research, Inc. (“HFR”) is the creator and owner of the HFR Indices and HFR Index Dataset (that “HFR Indices”) delivered to you through the Venn financial software application (“Third Party Software”).  By using the HFR Indices in the Third Party Software, you are agreeing to be bound to these terms and conditions of use, which comprise a legal agreement between you and HFR regarding your use of the HFR Indices (“Terms of Use”). HFR reserves the right to modify these Terms of Use at any time without giving you prior notice. The most recent version of the Terms of Use for HFR Indices can be found at www.hedgefundresearch.com, and they shall govern your use of the HFR Indices throughout the term of your subscription to access and use the HFR Indices through the Third Party Software.

b. Access and Use
i. HFR grants you a limited non-exclusive, non-transferable, revocable license, without the right to grant sublicenses, to access the HFR Indices only for noncommercial informational internal research  purposes and in compliance with these Terms of Use. 
 
ii.You agree not to reproduce, copy, modify, create derivative works from, perform, distribute, publish, retransmit or sell any of the HFR Indices. Notwithstanding this restriction, you may, on an occasional, ad hoc basis, reproduce, distribute, display and transmit an insubstantial portion of the Content, solely for non-commercial internal informational purposes to a limited number of individuals within Your organization, provided You include the following notice: "Source: Hedge Fund Research, Inc. (HFR) www.hedgefundresearch.com."
 
iii. HFR reserves the right to discontinue your access to the HFR Indices, with or without notice, if HFR has a reasonable basis to believe that you are accessing or using the HFR Indices in violation of these Terms of Use or are in violation of any written agreement you may have with HFR regarding your access to or use of the HFR Indices or any other HFR data, product or service (“Other Content”).

 

c. Restrictions on Use
 
i. Without a separate written license agreement with HFR, you are strictly forbidden from:
1. Using any of the HFR Indices in connection with the creation, operation, issuance, marketing or promotion of any financial product, instrument, index or service;

2. Using the HFR Indices in the operation of your or a third party financial database or index business;

3. Using the HFR Indices to populate any database that is commercial and/or distributed to third parties;
 
4. Redistributing the HFR Indices outside of your company or firm;

5. Using any of the HFR Indices or HFR Marks (defined below) in connection with any SEC, government or regulatory filing; and
 
6. Using the HFR Indices or HFR Marks to promote, market or endorse, or to create the impression that HFR endorses, approves of or is connected to any investment vehicle, product or service marketed, promoted, distributed, offered or sold by or on behalf of You.

 

ii. If you have entered into a separate agreement with HFR regarding your access to, use or distribution of the HFR Indices or Other Content, and to the extent there is a conflict between that separate agreement and this Agreement, the terms of that separate agreement shall govern.

 

d. HFR’s Proprietary Rights

i. HFR, HFRI, HFRX, HFRU, HFRQ, HFRL, WWW.HEDGEFUNDRESEARCH.COM, HEDGE FUND RESEARCH, HFR INDEXSCOPE, HFR PORTFOLIOSCOPE, HFR BANK SYSTEMATIC RISK PREMIA INDICES and HFR RISK PARITY INDICES and the names of the various other HFR Indices are the trademarks and service marks of HFR ("HFR Marks"). All trade names, trademarks, service marks, index names and other product and service names and logos in the Third Party Software are proprietary to their respective owners and are protected by applicable trademark and copyright laws. Nothing contained in the HFR Indices or Third Party Software should be construed as granting you any license or right to use any of the marks or names displayed in the Third Party Software without the express written permission of HFR or the third party owner, as applicable.
 
ii.The HFR Indices and their compilation and arrangement are protected by U.S. and foreign copyright and other intellectual property laws. You understand, acknowledge and agree that HFR has invested considerable time, effort and resources in selecting, compiling, coordinating, arranging, and preparing the HFR Indices and that the process and methodology of creating and maintaining the HFR Indices are valuable confidential proprietary trade secrets of HFR under the applicable federal and state trade secret laws.
 
e. Indemnification
 
You agree to indemnify and hold HFR and its affiliates harmless against all liabilities, losses, damages, expenses, and costs (including reasonable attorneys' and other professionals’ fees) that they incur as a result of claims related to your use of the HFR Indices and HFR Marks or a breach or violation of these Terms of Use. HFR reserves the right, at its own expense, to assume the exclusive defense and control of any matter for which it is entitled to indemnification, but you must still indemnify HFR for all liabilities, losses, or damages. You also agree to provide HFR with whatever cooperation it reasonably requests.

 


f. Disclaimers

i. THE HFR INDICES ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY.  INFORMATION AND DATA INCLUDED IN THE HFR INDICES ARE OBTAINED FROM VARIOUS THIRD PARTY SOURCES AND ARE PROVIDED ON AN “AS IS” BASIS. HFR DOES NOT PERFORM ANY AUDIT OR VERIFY THE INFORMATION PROVIDED BY THIRD PARTIES. HFR IS NOT RESPONSIBLE FOR AND DOES NOT WARRANT THE CORRECTNESS, ACCURACY, OR RELIABILITY THE DATA USED IN CREATING AND COMPILING THE HFR INDICES. ANY CONSTITUENT INVESTMENT PRODUCT OR VEHICLE USED TO CREATE AN HFR INDEX MAY BE REMOVED AT ANY TIME. THE COMPLETENESS OF THE DATA MAY VARY IN EACH FINANCIAL PRODUCT OR VEHICLE USED TO CREATE THE HFR INDICES. HFR DOES NOT WARRANT THAT THE DATA USED TO CREATE THE HFR INDICES WILL BE FREE FROM ANY ERRORS, OMISSIONS OR INACCURACIES. HFR DOES NOT WARRANT THAT THE DELIVERY OF THE HFR INDICES WILL BE UNINTERRUPTED OR FREE FROM ANY VIRUSES OR OTHER HARMFUL COMPONENTS OR DEFECTS. THE INFORMATION IN THE HFR INDICES DOES NOT CONSTITUTE AN OFFER OR A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR FINANCIAL PRODUCT OR VEHICLE WHATSOEVER OR ANY TYPE OF TAX OR INVESTMENT ADVICE OR RECOMMENDATION. PAST PERFORMANCE OF ANY CONSTITUENT INVESTMENT PRODUCT OR VEHICLE USED TO CREATE AN HFR INDEX IS NO INDICATION OF FUTURE RESULTS.
 
ii. HFR IS NOT RELATED TO OR AFFILIATED WITH THE VENDOR OF THE THIRD PARTY SOFTWARE.  YOU ARE RESPONSIBLE FOR CONTRACTING DIRECTLY WITH THE LICENSOR OF THE THIRD PARTY SOFTWARE FOR ITS USE. TO THE MAXIMUM EXTENT PERMISSIBLE BY APPLICABLE LAW, HFR EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, OR OTHERWISE, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. YOU ASSUME ALL RISK OF DAMAGE OR LOSS RESULTING FROM THE USE OF THE HFR INDICES DELIVERED THROUGH THE THIRD PARTY SOFTWARE.

 

g. Limitation of Liability

i. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW, HFR SHALL NOT BE LIABLE FOR ANY (i) SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE, OR  CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF PROFITS, ARISING FROM OR RELATED TO A BREACH OF THIS AGREEMENT OR THE USE OF THE HFR INDICES, INCLUDING DAMAGES, SUCH AS, WITHOUT LIMITATION, DAMAGES ARISING FROM LOSS OF DATA OR PROGRAMMING, LOSS OF REVENUE OR PROFITS, FAILURE TO REALIZE SAVINGS AND OTHER BENEFITS, DAMAGE TO EQUIPMENT, AND CLAIMS AGAINST YOU BY ANY THIRD PARTY, EVEN IF HFR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES; OR (ii) DAMAGES (REGARDLESS OF THEIR NATURE) FOR ANY DELAY OR FAILURE BY HFR TO PERFORM ITS OBLIGATIONS UNDER THESE TERMS OF USE DUE TO ANY CAUSE BEYOND HFR'S REASONABLE CONTROL.
 
ii.IF YOU ARE DISSATISFIED WITH THE HFR INDICES OR THESE TERMS OF USE, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE HFR INDICES. BECAUSE SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. IN SUCH STATES, HFR’S LIABILITY IS LIMITED AND WARRANTIES ARE EXCLUDED TO THE GREATEST EXTENT PERMITTED BY LAW, BUT SHALL, IN NO EVENT, EXCEED $100.00.

 

h. Export Control
You shall not export or re-export any HFR Indices into any U.S. embargoed country or to anyone on the U.S. Treasury Department's list of Specially Designated Nationals or the U.S. Department of Commerce Denied Person's List or Entity List.
 
i. Disputes
All disputes between HFR and You under these Terms of Use shall be resolved by binding arbitration to take place in Chicago, Illinois.  You agree that no disputes arising under this Agreement shall be conducted in a class, consolidated or representative action.  You also agree that HFR may bring suit in court to enjoin an infringement, misappropriation or other misuse of its intellectual property rights. You acknowledge that HFR will suffer irreparable harm as a result of the unauthorized use or distribution of the Content or misuse of the HFR Marks and agree that HFR shall be entitled to preliminary and permanent injunctive relief without the necessity of posting a bond or proof of actual damages.
 
j. General Provisions
Unless you have entered into a separate license agreement with HFR regarding your access to and use of the HFR Indices, this Agreement, as amended, constitutes the entire agreement and understanding between you and HFR with respect to your access to and use of the HFR Indices through the Third Party Software and supersedes any and other agreements, whether oral or written, with respect to your use of the HFR Indices in the Third Party Software. No waiver by HFR of any breach or default under these Terms of Use shall be deemed to be a waiver of any preceding or subsequent breach or default of these Terms of Use. If any part of these Terms of Use is deemed to be invalid or unenforceable, it will not impact any other provision of these Terms of Use, all of which will remain in full force and effect, or which shall be modified so as to carry out the meaning and intent of these Terms of Use. These Terms of Use shall be governed and construed under the laws of the United States and the State of Illinois.  The United Nations Convention on Contracts for the International of Sale of Goods shall not govern or be used to construe these Terms of Use.
 
 

7. eVestment Alliance, LLC (“eVestment”)

For data supplied or owned by eVestment, the following additional terms apply:

a. The scope of the eVestment Licensed Database depends on each Subscriber’s license with eVestment. 
 
b. Any access to or use of the eVestment Licensed Database(s) shall be governed by the terms and conditions of an existing agreement for such Licensed Database(s) that Subscriber has entered into directly with eVestment. 
 
c. All data supplied or owned by eVestment is provided under the following notice:
 
Data sourced from eVestment. All data © 2024 eVestment Alliance, LLC. All Rights Reserved. www.evestment.com The data contained herein: (1) is proprietary; and (2) may only be used as specified in the user’s agreement with eVestment Alliance, LLC or its affiliate regarding the use of such data through the Two Sigma Investor Solutions, LP’s Venn Platform and is subject to all terms contained therein. Neither eVestment Alliance, LLC, its affiliates nor any of their respective content providers are responsible for any damages or losses arising from any use of the data sourced from eVestment or otherwise in relation to a Subscriber’s use of solutions and/or data offered by Two Sigma Investor Solutions, LP.
 
 
8. S&P Dow Jones Indices LLC (“S&P”)

For data supplied or owned by S&P, the following additional terms apply:

  1. Neither Provider, S&P, their affiliates nor any of their respective third-party licensors shall have any liability for the accuracy or completeness of the information or software furnished through the Platform, or for delays, interruptions or omissions therein nor for any lost profits, indirect, special or consequential damages;

  2. S&P, its affiliates and/or its third-party licensors have exclusive proprietary rights in any S&P information and software (the “S&P Services”) received;

  3. Subscriber shall not use or permit anyone to use the information or software provided through the Platform for any unlawful or unauthorized purpose;

  4. Subscriber is not authorized or permitted to furnish the S&P Services to any person or firm for reuse or retransmission without prior written approval of S&P;

  5. Access to the S&P Service(s) is subject to termination in the event that any agreement between Provider and a provider of the S&P Services distributed through the Platform is terminated in accordance with its terms; and

  6. Subscriber agrees that it shall not use nor permit use of the S&P Service(s) or any data included therein by any end user with the creation, structuring, development, managing, trading, marketing and/or promotion of any financial instrument, portfolio or other investment product that is based on, or seeks to match the performance of, all or any portion of the S&P Service(s) or such data, such as, without limitation, a security, portfolio or account whose capital and/or income value is calculated based on changes in value of an S&P index or the components thereof, without a separate written agreement with S&P for such purpose.

 

9. Axioma, Inc. (“Axioma”)

For data supplied or owned by Axioma, the additional terms apply:

  1. Subject to the terms and conditions of this Agreement, Subscriber is granted for the specified license period the limited, nonexclusive, nontransferable, non-assignable right to use the software of Axioma (the “Axioma Materials”).

  2. The Axioma Materials are the sole and exclusive property of Axioma or its third-party data/software suppliers (each a “Vendor”) and are protected by the various applicable intellectual property and other laws of the United States of America and other countries.  Axioma or its Vendors own all proprietary rights, including patent, copyright, trade secret, trademark, and other proprietary rights, in and to the Axioma Materials, and any corrections, bug fixes, enhancements, updates or other modifications, including custom modifications, made to the Axioma Materials, whether made by Axioma or any third party.

  3. The Axioma Materials have been developed, compiled, prepared, revised, selected, and arranged by Axioma and its Vendors through the application of methods and standards of judgment developed and applied through the expenditure of substantial time, effort, and money, and constitute valuable intellectual property and trade secrets of Axioma and its Vendors.  Subscriber agrees to protect the proprietary rights of Axioma and its Vendors in the Axioma Materials during and after the term of this Agreement.

  4. The Subscriber will not use or permit any individual or entity under its control to use the Axioma Materials or any of their respective component parts for any unlawful or unauthorized purpose.  The Subscriber will be responsible for all acts or omissions of any person using the Axioma Materials on its behalf.

  5. Provider is a distributor of certain Axioma Materials and does not purport to grant, and Subscriber does not receive, any rights with respect to the Axioma Materials, except as expressly granted under this Agreement.  All rights not expressly granted to Subscriber under this Agreement are expressly reserved for Axioma and its Vendors.  Subscriber is solely responsible for obtaining all required authorizations from Axioma and its Vendors for Axioma Materials received through the Licensee’s Products that require Axioma or Vendor authorization.

  6. Except as permitted under a written agreement with Axioma or its Vendors, as applicable, Subscriber may not copy, transfer, distribute, reproduce, reverse engineer, decrypt, decompile, disassemble, create derivative works from or make any part of the Axioma Materials available to others.

  7. Upon termination of this Agreement, Subscriber will cease using all the Axioma Materials and expunge all Axioma Materials from its storage facilities and destroy all documentation, except such copies of data to the extent required by law or regulation.

  8. THE AXIOMA MATERIALS ARE PROVIDED ON AN "AS IS" BASIS AND NO WARRANTIES, EXPRESS OR IMPLIED, REPRESENTATIONS OR PROMISES HAVE BEEN MADE REGARDING THE MERCHANTABILITY, ORIGINALITY, COMPATIBILITY, ACCURACY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE AXIOMA MATERIALS, AND NO WARRANTY IS GIVEN THAT THE AXIOMA MATERIALS WILL CONFORM TO ANY DESCRIPTION THEREOF OR BE FREE OF OMISSIONS, ERRORS OR DEFECTS.  WITHOUT LIMITATION ON THE FOREGOING, THE DATA AND INFORMATION CONTAINED IN THE AXIOMA MATERIALS MAY BE INCOMPLETE OR CONDENSED AND IS FOR INFORMATION PURPOSES ONLY.  THE AXIOMA MATERIALS ARE FURNISHED AS PART OF A GENERAL SERVICE, WITHOUT REGARD TO SUBSCRIBER’S PARTICULAR CIRCUMSTANCES, AND AXIOMA AND ITS VENDORS SHALL NOT BE LIABLE FOR ANY DAMAGES IN CONNECTION THEREWITH.

  9. UNDER NO CIRCUMSTANCES SHALL AXIOMA OR ITS AFFILIATES, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, REPRESENTATIVES AND AGENTS (COLLECTIVELY, “PROTECTED PARTIES”) BE LIABLE TO SUBSCRIBER FOR INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, CONSEQUENTIAL OR PUNITIVE DAMAGES (INCLUDING DAMAGES FOR LOSS OF BUSINESS PROFITS, BUSINESS INTERRUPTION, LOSS OF BUSINESS INFORMATION, AND THE LIKE), ARISING IN CONNECTION WITH THIS SUBSCRIBER LICENSE OR USE OF THE AXIOMA MATERIALS.

  10. Subscriber shall indemnify and hold harmless Axioma and Protected Parties from and against any and all losses, liabilities, judgments, suits, actions, proceedings, regulatory inquiries, regulatory investigations, claims, damages, costs (including reasonable attorneys’ fees) (collectively, “Losses”) resulting from or arising out of Client’s use of the Axioma Materials, unless caused directly and solely by Provider’s fraud or willful misconduct.

  11. Axioma (and its Vendors) are express third-party beneficiaries of this Agreement and shall be entitled to enforce its provisions as fully as if parties hereto.