Before you subscribe, it is important to understand that Exchanges require that we classify users as either Professional or Non-Professional, as it can have a major impact on how you are billed for Exchange data, as well as what Exchange Terms and Agreements you apply to. Note that intentionally lying about your status in an attempt to avoid additional fees or regulations can potentially have legal and financial ramifications.
How do I determine my status?
Generally speaking, there are two things to keep in mind when trying to determine if you are a Professional or Non-Professional user:
- You are Non-Professional if you are subscribing to eSignal for personal use only.
- You are a Professional if you are associated with any financial institutions, or if you work at an SEC-registered institution.
What are the criteria for qualifying as a Professional?
You are considered a professional if you meet any one of the following criteria:
- You are subscribing on behalf of a firm, corporation, partnership, trust or association.
- You use the information in connection with any trade or business activities and not for personal investment.
- You plan to furnish the information to any other person(s).
- You are a securities broker-dealer, registered representative, investment advisor, investment banker, futures commission merchant, commodities introducing broker or commodity trading advisor, money manager, member of the Securities Exchange or Association or Futures Contract market, or any owner partner, or associated person of the foregoing.
- You are employed by a bank or insurance company or an affiliate of either to perform functions related to securities or commodity futures investment or trading activity.
If you do not meet any of the criteria outlined above, you are considered a Non-Professional. If you are a Professional, you will be required to sign further agreements and will be subject to the appropriate additional Exchange fee structure.
Important Notice about the Exchange Terms and Agreements Form
The information provided on the Exchange Terms and Agreements form you must fill out when signing up for eSignal may be examined by the Exchanges. Professionals who identify themselves as Non-Professionals risk liability for all uncollected professional exchange fees, may have their data rights revoked, and would be considered in violation of Federal law.
The subscriber assumes all liability for declaring status as a Professional or Non-Professional and will be held accountable for all applicable penalties and/or Exchange fees.