CURVESERIES END-USER LICENSE AGREEMENT ("EULA")

THIS EULA IS A LEGAL AGREEMENT BETWEEN YOU ("You") AND CURVESERIES PRIVATE LIMITED ("CS"), A COMPANY INCORPORATED IN SINGAPORE, FOR THE VARIOUS COMPUTER SOFTWARE CS MAKES AVAILABLE TO YOU, INCLUDING BUT NOT LIMITED TO CURVESERIES DESKTOP, EXCEL ADD-IN AND MOBILE, ALONG WITH ASSOCIATED MEDIA AND DOCUMENTATION (COLLECTIVELY "Software"). BY CLICKING THE "I ACCEPT THE AGREEMENT" OPTION AND INSTALLING, ACCESSING OR UTILIZING THE SOFTWARE, YOU AGREE TO BE BOUND BY THE TERMS OF THIS EULA. BY LOGGING INTO ANY OF THESE APPLICATIONS, YOU HEREBY AGREE TO THE TERMS SET FORTH IN THIS EULA. 

You acknowledge that the Software is protected by copyright and other intellectual property laws. You further acknowledge that all rights, title and interest therein are the solely property of CS and that You receive no rights, title or interests in the Software except as expressly set forth herein. You agree not to challenge CS's rights in or otherwise attempt to assert any rights in the Software, except those provided under this EULA. Subject to the terms set forth in this EULA, CS hereby grants to You and You fully accept, upon delivery, a non-exclusive, non-transferable and perpetual (unless earlier terminated as provided below) right to use only the executable version (no source code) of the Software solely for Your own internal business purposes. To the maximum extent permitted by applicable law, You may not assign, resell or otherwise transfer for value the Software. 

You agree not to copy the Software. You agree not to disclose, modify, decompile, translate, disassemble or reverse engineer the Software. You agree not to distribute, rent or lease the Software. You agree not to use the Software as a commercial provider of hosting services or application service provider. You agree to follow any accompanying user guides when using the Software. You agree not to use any program or application to interface with the Software. You agree not to use the Software except as expressly permitted under this EULA. You acknowledge that the Software contains information deemed confidential or otherwise proprietary to CS, and You agree to handle the Software with at least the same degree of care employed with respect to Your own confidential or proprietary information. 

To the maximum extent permitted by applicable law, CS MAKES NO WARRANTY OR REPRESENTATION, EITHER EXPRESSED OR IMPLIED WITH RESPECT TO THE SOFTWARE, ITS DATA, ITS QUALITY, PERFORMANCE, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE. In particular, and without limitation, CS and its third party vendors shall have no liability for any loss or damage incurred as a result of any errors, inaccuracies or omissions in relation to any data, or for any delay in publishing the data, or for any other reason whatsoever in connection with the data. CS and its third party vendors is unable to provide any warranty relating to the accuracy of the data and no reliance should be placed on the data by any person. You agree that third party trademarks and data belong to the third party and onward distribution of these is not permitted.  Unless otherwise stated, the copyright and any other rights in the contents relating to the data, including any images and text, shall remain the property of CS or its third party vendor. CS shall have no liability for any data stored or processed with the Software, including the costs of recovering such data. 

You understand and acknowledge that CS will not be liable for network-related problems attributable to the operation of the Software and that network configuration changes may affect the system's performance. In addition, You understand and acknowledge that any information that may be provided through the Software and the system may, at times, not be valid, timely, complete or accurate and that if You have any questions or concerns regarding the validity, timeliness, completeness or accuracy of the information, where available, You will contact the CS Global Helpdesk, each where appropriate, to confirm its accuracy, or lack thereof. 

For security purposes, CS advises that You: (a) memorize your password for access to the Software and its applications; (b) not share your ID and password with any other person; and (c) create a written record of Your password. You understand and acknowledge that: (d) You are responsible for protecting as confidential Your user ID, unique password, and other account information associated with Your use of the Software and its applications; and (e) while CS has endeavoured to limit and protect access to the Software and its applications, CS bears no obligation or liability whatsoever with respect to access to the Software and its applications. 

To the maximum extent permitted by applicable law, CS shall have no liability whatsoever under this EULA shall be limited to the amount paid by You for the Software. IN NO EVENT WILL CS BE LIABLE FOR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THE USE OR INABILITY TO USE THE SOFTWARE, even if advised of the possibility of such damages.

Your right to use the Software continues until this EULA is terminated. You may terminate this EULA at any time by destroying all of Your copies of the Software. This EULA will automatically terminate if You fail to comply with the material terms of this EULA. Upon any termination, You agree to remove all Software from Your computers, destroy all copies of the Software, and, upon request from CS, certify in writing Your compliance herewith. 

If any of the terms, or portions thereof, of this EULA are invalid or unenforceable under any applicable statute or rule of law, the court shall reform the contract to include an enforceable term as close to the intent of the original term as possible; all other terms shall remain unchanged. 

This EULA constitutes the entire agreement between You and CS relating to the subject matter hereof, and any additions to, or modifications of, this EULA shall be binding upon the parties only if the same shall be in writing and duly executed by You and by a duly authorized representative of CS. 

This EULA shall inure to the benefit of, and is freely assignable to, CS's successors and assignees of rights in the Software. 

This EULA is governed by the laws of the Singapore, without regard to its choice of law principles. 


CME SUBSCRIBER ADDENDUM
This addendum is by and between YOU ("You") AND CURVESERIES PRIVATE LIMITED ("CS")
The Distributor and Subscriber are each a 'Party' and collectively the 'Parties'. 

1. Background
(A) Distributor has entered into an agreement with Chicago Mercantile Exchange Inc (or its successors or assignees) ('CME') whereby CME Group has granted the Distributor (which may include certain other Affiliates of Distributor authorized by CME (collectively the 'Distributor Group')) the right to receive certain market data and other financial information licensed by CME, (the 'CME Licensed Information') and to retransmit the same to Subscriber and certain Affiliates of Subscriber (as agreed between Distributor and Subscriber) (the 'Subscriber Group'). 
(B) In turn, Distributor and Subscriber have entered into an agreement, by which Distributor Group will, among other things, provide Subscriber Group with CME Licensed Information and may include, under the same agreement, other market data sublicensed from other exchanges (the 'Distribution Agreement'). 
(C) This Subscriber Addendum is an addendum to the Distribution Agreement and sets forth the additional terms and conditions upon which Subscriber Group may receive and access the CME Licensed Information, but does not apply to any other market data that may be sublicensed to Subscriber Group, on behalf of any other exchange besides CME, under the Distribution Agreement. 
NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows. 

2. Definitions
The below definitions apply only to the terms set out in this Subscriber Addendum and do not amend the Distribution Agreement for any other purpose. All other capitalized terms used in this Subscriber Addendum, have the same meaning as defined in the Distribution Agreement, unless otherwise stated herein.
Affiliate: an entity that controls, is controlled by or is under common control with a Party. Control means the ownership or control, directly or indirectly, of at least fifty percent (50%) or more of all of the voting shares (or other securities or rights) entitled to vote for the election of directors or other governing authority. 
Automated Trading System: any system or software operated by Distributor that generates and/or routes orders electronically with no, or only de minimis, human action involved in generating, sending and/or verifying orders. 
Benchmark Information: CME Licensed Information designated by CME as benchmark information in the Information Policies.
CME Group: CME and its Affiliates.
CME Licensed Information Product: certain specified instruments of CME Licensed Information, grouped as one data product, as specified in the Information Product Fee Schedule. 
Confidential Information: all information disclosed by the Parties in connection with this Subscriber Addendum, which should reasonably be considered as confidential because of its nature and the manner of its disclosure including but not limited to the CME Licensed Information.
Day: a calendar day.
Device: any display unit (fixed or portable) which has the ability to access, receives, processes or displays the CME Licensed Information, whether in whole or part, through the Service. CME reserves the sole right to determine what constitutes a Device.
Distributor Group: Distributor and its Affiliates. 
Futures and Options on Futures Information: the CME Licensed Information that originates from Designated Contract Markets (DCM) as defined in the Commodities Exchange Act 1936 (as amended and updated) or any other equivalent legislation. Such DCMs include, but are not limited to the CME, NYMEX, COMEX, CBOT and DME, DCMs. 
Information Policies: the policies applicable to CME Licensed Information as set out on the CME website (currently located at www.cmegroup.com/informationpolicies) as they may be amended from time to time. 
Information Product Fee Schedule: the document issued by Distributor to Subscriber, describing the CME Licensed Information licensed by Distributor on behalf of CME and the corresponding fees. 
Internal Controls: the electronic systems (including software and hardware), network configurations, rules, procedures, and policies which, taken together and to the satisfaction of CME: (i) identify the ability to access CME Licensed Information; (ii) permit access to CME Licensed Information using a defined Unit of Count; (iii) prevent any unauthorized access to CME Licensed Information; and (iv) retain auditable records of the forgoing. 
Intellectual Property Rights: patents, trademarks, service marks, trade and service names, domain names, copyrights, topography rights, database rights, design rights, trade secrets and other intellectual property, proprietary or moral rights, whether or not they are registered and including all applications and rights to apply for registration, and all similar or equivalent rights, anywhere in the world.
Managed User Non-Display: a Service authorized by CME that facilitates the Non-Display Use of CME Licensed Information by a Subscriber who is an individual natural person.
Non-Display Use: non-viewable use of CME Licensed Information in any system, process, program, machine or calculation other than in order to display or distribute CME Licensed Information for display. Such use may include, but is not limited to, calculation of P&L, portfolio valuation, order processing, use within Automated Trading Systems and automated order routing.
Person: means any natural person, proprietorship, corporation, partnership, limited liability company or other organization.
Personal Data: any information relating to an identified or identifiable natural person.
Privacy Center: the CME Group Inc. Privacy Center on the CME website (currently located at http://www.cmegroup.com/privacy-policy.html) as may be amended from time to time. 
Service: any medium provided by, or on behalf of, Distributor or a Distributor Group entity, through which the CME Licensed Information is made available. 
Unit of Count: the unit of measure that is used for the assessment of fees and or reporting. Unless otherwise advised by CME, Device is the default Unit of Count in respect of CME Licensed Information. If a Device is configured to access multiple Services, then each ability to access a Service on that Device will be one Unit of Count, for example, a laptop running three (3) Services shall be counted as three (3) Devices. 
Unless the context requires otherwise:
● words importing the singular shall include the plural and vice versa;
● words importing any gender shall include the other genders and vice versa;
● references to the word 'include' shall mean 'including, without limitation' or 'including, but not limited to';
● headings used are for reference purposes only and shall not affect the interpretation of this Subscriber Addendum.

3. Subscriber Addendum Term
3.1 This Subscriber Addendum is effective as of the date the CME Licensed Information was first made available by Distributor to a Subscriber Group entity and will continue until terminated in accordance with the provisions herein (the 'Subscriber Addendum Term').

4. Receipt of CME Licensed Information by Subscriber Group 
4.1 Subject to the terms and conditions of this Subscriber Addendum, during the Subscriber Addendum Term, Subscriber Group is permitted to access CME Licensed Information via the Service and display such CME Licensed Information on a Device for its own internal business activities. 
4.2 All Non-Display Use of CME Licensed Information requires a direct license with CME. 

5 Internal Controls 
5.1 SUBSCRIBER WARRANTS (ON BEHALF OF ITSELF AND THE REST OF THE SUBSCRIBER GROUP) TO BOTH DISTRIBUTOR AND CME, THAT DURING THE SUBSCRIBER ADDENDUM TERM, SUBSCRIBER GROUP SHALL AT ALL TIMES HAVE IN PLACE AND MAINTAIN EFFECTIVE INTERNAL CONTROLS IN ACCORDANCE WITH CME’S INFORMATION POLICIES, USING CME’S UNIT OF COUNT AND WILL MAINTAIN AUDITABLE EVIDENCE OF THE OPERATION OF THE INTERNAL CONTROLS AND SUBSCRIBER WILL AT ALL TIMES FAMILIARIZE ITSELF WITH SUCH INFORMATION POLICIES. 

6. CME Licensed Information
6.1 Subscriber acknowledges and agrees on behalf of Subscriber Group that:
(a) Subscriber Group shall not redistribute CME Licensed Information outside of Subscriber Group. Notwithstanding the forgoing, should any entity within the Subscriber Group wish to distribute CME Licensed Information outside of the Subscriber Group, then Subscriber must seek permission from CME directly. If such request is approved by CME (in its sole discretion) then each applicable Subscriber Group entity, must be licensed under a separate license agreement with CME directly, for the right to distribute the CME Licensed Information.
(b) Subscriber Group shall not misrepresent CME Licensed Information or deface or remove any trademarks transmitted with CME Licensed Information. 
(c) Subscriber Group shall not access or use CME Licensed Information for any illegal purpose and agrees, that each Subscriber Group entity, will only access or use CME Licensed Information, in accordance with the laws and regulations of the jurisdiction in which they operate. 
(d) Subscriber Group shall not use the CME Licensed Information or any portion thereof, in the creation, distribution, settlement or maintenance of any derivative work (including but not limited to financial products, indexes, quotes, spot prices, curves, surfaces, contracts for difference (CFDs) and other leveraged products, futures, options on futures, indicative optimized portfolio values (IOPV), net asset value (NAV), or analytical reference figures or values calculated from CME Licensed Information for purposes of fund administration and portfolio management services, risk management services or valuation services based on the Information) unless Subscriber Group is licensed to do so by CME. 
(e) CME and CME licensors, hold all right, title and interest in and to CME Licensed Information and the Intellectual Property Rights in the CME Licensed Information, and in the format in which CME Licensed Information is transmitted by CME. Except for the limited license expressly granted herein, all rights not expressly licensed under this Subscriber Addendum are expressly reserved to CME and CME licensors and the ownership and Intellectual Property Rights of the CME Group entities and other CME licensors are not transferred, assigned or affected in any way by this Subscriber Addendum. Subscriber undertakes that Subscriber Group shall not carry out text and data mining, as those terms are defined in EU Directive 2017/790. Subscriber acknowledges on behalf of Subscriber Group that the reservation of rights by CME and CME licensors in this Subscriber Addendum is appropriate. 
(f) It consents to CME Group’s use of the Personal Data as described in the Privacy Center, and represents and warrants to CME Group, that each Subscriber Group entity, has either obtained valid consents from those individuals to whom the Personal Data relates, or has satisfied an applicable legal basis, pursuant to all applicable laws, so as to ensure that CME Group is able to process the Personal Data, as envisaged under this Subscriber Addendum and in accordance with applicable laws. Subscriber will ensure that any transfer of Personal Data from any Subscriber Group entity to CME Group, to countries other than where the individual provided its Personal Data, will satisfy all applicable laws.
(g) If CME permits the Subscriber Group to redistribute CME Licensed Information, pursuant to section 6.1 (a) above, Subscriber Group shall not distribute, or permit distribution, of CME Licensed Information to any entity located in any country subject to comprehensive sanctions by the Office of Foreign Assets Control and/or identified on the U.S. Department of the Treasury’s Specially Designated Nationals and Blocked Persons List.
(h) Subscriber Group shall not use Benchmark Information other than for display on one or more Devices.
(i) If Subscriber is licensed for Managed User Non-Display of CME Licensed Information (which for the avoidance of doubt will not include Benchmark Information), then Subscriber will not use the CME Licensed Information for any other purpose (including viewing the CME Licensed Information on a Device and/or the creation of derived works), without a separate license with CME or Distributor. 
6.2 Subscriber accepts responsibility for Subscriber Groups compliance with the terms of this Subscriber Addendum and will cause the same to comply with the terms of the Subscriber Addendum.

7 Subscriber Reporting Obligations
7.1 Subscriber Group will maintain complete and accurate books and records, relating to all Units of Count that had the ability to access CME Licensed Information ('Records'), and retain such Records, for the most recent five (5) year period.
7.2 FOR THE AVOIDANCE OF DOUBT, THE DEFAULT UNIT OF COUNT FOR FUTURES AND OPTIONS ON FUTURES INFORMATION IS ALWAYS DEVICE (UNLESS OTHERWISE ADVISED BY CME).
7.3 In addition to any other Units of Count that Subscriber is required to report to Distributor and (unless Subscriber has otherwise agreed directly with CME), Subscriber is required to report to Distributor (or directly to CME if requested) on a date agreed between Subscriber and Distributor (or between Subscriber and CME, as applicable), the maximum number of Devices within the Subscriber Group, that have the ability to access CME Licensed Information, each month, via each Service covering each CME Licensed Information Product. For example, where CME Licensed Information constitutes Futures and Options on Futures Information, if Subscriber has ten (10) Devices that are enabled to access the CBOT DCM and five (5) of those Devices are also enabled to access the NYMEX DCM, then Subscriber must report ten (10) Devices for CBOT and five (5) Devices for NYMEX. 
Where Device is the default Unit of Count for the CME Licensed Information, the following rules apply:
 (a) Subscriber Group is required to report the total number of Services per unique Devices which are authorized by Internal Controls to access the CME Licensed Information, irrespective of whether such Device did actually access the CME Licensed Information. For example, a laptop running three (3) Services shall be reported as three (3) Devices.
 (b) Subscriber Group is strictly prohibited from using any 'usage-based' recording system as a means for counting and reporting Devices. 
(c) In cases where the same Device is used for both display and Non-Display Use, the Subscriber’s reporting of such Device to Distributor under the terms of this Subscriber Addendum, does not relieve Subscriber of its obligation to license with CME directly for the Non-Display Use (unless Subscriber is directly licensed with Distributor for Managed User Non Display) and any additional reporting obligation thereunder for the Non-Display Use activity. 
(d) In relation to cases where an access ID is enabled to concurrently access CME Licensed Information via multiple Devices, the Subscriber must report the total number of Devices that each access ID has been enabled to access CME Licensed Information, on a per Service basis. For examples, please see the Unit of Count guides available at CME’s Market Data Policy Education Center https://www.cmegroup.com/market-data/license-data/marketdata-policy-education-center.html. 
(e) Subscriber Group is strictly prohibited from netting Device Units of Counts across Services or unique users, without the express written permission of CME. 
7.4 Subscriber shall be liable to CME and Distributor for any unreported Units of Count identified as having the ability to access CME Licensed Information. 

8 Audits
8.1 Notwithstanding the provisions of the Distribution Agreement, during the Subscriber Addendum Term and for a period of not less than twenty-four (24) months thereafter, Subscriber must produce on request, the Records and complete and accurate books and records related to Internal Controls, for the most recent five (5) year period. Distributor or CME or their authorized representatives (the 'Auditor'), may inspect equipment, software and Records to verify compliance with this Subscriber Addendum.
8.2 Audits may be carried out by the Auditor, at any Subscriber Group location, during business hours, during the Subscriber Addendum Term and up to twenty-four (24) months following termination:
(a) once per twelve (12)-month period on no less than thirty (30) Days’ notice; and
(b) without advance notice and more than once in any twelve (12) month period, if Distributor or CME, reasonably suspects a material breach of the Subscriber Addendum by any Subscriber Group entity. All information observed during an audit will be treated in accordance with the confidentiality provisions hereunder and used only to verify compliance with the Subscriber Addendum. CME or Distributor or either of their agents, will comply with Subscriber’s reasonable safety and security rules and regulations at all times when on site at a Subscriber Group location throughout the audit.
8.3 Subscriber must pay any outstanding fees revealed by an audit to CME, and Distributor, within thirty (30) Days of receipt of an invoice from CME or Distributor and will be subject to interest at the lower of 1.5% per month or the maximum permitted by law.
8.4 If the Auditor identifies a lack of records or failure of Internal Controls such that the amount of any under-reported access to the CME Licensed Information during the audit period and the applicable fees cannot be established with reasonable certainty or agreed by the Parties, CME or Distributor may appoint an independent professional auditor to determine the fees owed to Distributor or CME at Subscriber’s sole cost and expense. Distributor or CME and Subscriber will accept the determination of the appointed independent professional auditor.
8.5 If an audit reveals an underpayment, Subscriber shall bear the reasonable costs and expenses of the audit.

9 Termination
9.1 Either Party may terminate this Subscriber Addendum, or any license individually:
(b) On thirty (30) Days’ written notice; or
(c) With immediate effect on written notice if:
(i) The other Party enters into compulsory or voluntary liquidation, has a receiver appointed, presents a petition for its winding up (or has such a petition presented by a creditor)
(ii) The other Party commits a material, irremediable breach of any term of this Subscriber Addendum, which includes, but is not limited to, the following breaches by Subscriber: misrepresentation of CME Licensed Information; failure to use effective Internal Controls; failure to prevent, identify or end unauthorized use, distribution or redistribution of CME Licensed Information; or
(iii) The other Party fails to remedy a material breach within thirty (30) Days of written notice to do so. 
9.2 This Subscriber Addendum or any license individually shall automatically terminate, with immediate effect, if Distributor’s rights to sublicense the CME Licensed Information is partially or wholly revoked. 
9.3 This Subscriber Addendum shall automatically terminate, if the Distribution Agreement itself expires or is terminated for any reason. 

10 Fees
10.1 Subscriber will pay Distributor for the right to receive the CME Licensed Information, in accordance with the Distribution Agreement terms and conditions. 
10.2 On occasion, Subscriber may be required to pay CME directly for access to and use of the CME Licensed Information licensed hereunder. In such circumstances, any fees paid to CME, shall be covered by a separate written agreement between CME and Subscriber, but shall only cover the receipt of the CME Licensed Information identified in that separate agreement and not any other market data received by Subscriber Group pursuant to the terms of the Distribution Agreement. 

11 Covenants, Representations and Warranties of Subscriber. 
11.1 Subscriber, for itself and on behalf of the rest of the Subscriber Group, covenants, represents and warrants that: 
(a) Subscriber Group is not (unless otherwise approved in writing by CME) engaged in the business of distributing CME Licensed Information and that, to its knowledge after reasonable inquiry, it is receiving the CME Licensed Information from Distributor who is authorized by CME to distribute the CME Licensed Information.
(b) Subscriber Group will not use or permit any other person to use, CME Licensed Information for any illegal purpose and that each Subscriber Group entity, will only access or use CME Licensed Information, in accordance with the laws and regulations of the jurisdiction in which they operate. 

12 CME Group as a Third-Party Beneficiary
12.1 The Distributor and Subscriber acknowledges and agrees that CME Group (only) are third-party beneficiaries of this Subscriber Addendum, and are entitled to all the rights and benefits thereunder, and may enforce the provisions of this Subscriber Addendum directly against Distributor and Subscriber Group, as if it were a party thereto. 

13 Limitations Of Liability and Damages
13.1 SUBSCRIBER (FOR AND ON BEHAF OF SUBSCRIBER GROUP) AND DISTRIBUTOR (FOR AND ON BEHALF OF DISTRIBUTOR GROUP) AGREES: 
(A) THAT TO THE MAXIMUM EXTENT PERMITTED BY LAW, NO CME GROUP ENTITY, NOR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, MEMBERS, EMPLOYEES, AGENTS, CONSULTANTS, OR LICENSORS SHALL BE LIABLE FOR: (A) ANY DELAY, INACCURACIES, ERRORS, OMISSIONS, OR INTERRUPTION OF ANY KIND IN RELATION TO THE CME LICENSED INFORMATION OR FOR ANY RESULTING LOSS OR DAMAGE; OR (B) LOSS OR DAMAGE ARISING FROM UNAUTHORIZED ACCESS TO OR MISUSE OF CME LICENSED INFORMATION. 
(B) EXCEPT AS EXPRESSLY SET OUT IN THIS SECTION, NO CME GROUP ENTITY NOR ANY CME GROUP LICENSORS, MAKE ANY REPRESENTATIONS OR WARRANTIES AND EACH HEREBY DISCLAIMS AND SHALL HAVE NO LIABILITY FOR ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION TO THE MERCHANTABILITY, QUALITY OF THE CME LICENSED INFORMATION OR ITS FITNESS FOR A PARTICULAR PURPOSE, UNINTERRUPTED SERVICE OR ERROR-FREE SERVICE, OR THE SEQUENCE, TIMELINESS, ACCURACY OR COMPLETENESS OF THE CME LICENSED INFORMATION. THE CME LICENSED INFORMATION IS PROVIDED ON AN 'AS IS' BASIS AT SUBSCRIBER GROUPS SOLE RISK
(C) THAT TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO CIRCUMSTANCES SHALL ANY CME GROUP ENTITY OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, MEMBERS, EMPLOYEES, AGENTS, CONSULTANTS OR LICENSORS BE LIABLE HEREUNDER TO ANY DISTRIBUTOR GROUP OR SUBSCRIBER GROUP ENTITY OR TO OTHERS DIRECTLY OR INDIRECTLY MAKING USE OF CME LICENSED INFORMATION, FOR ANY LOST PROFITS, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, ARISING UNDER THIS AGREEMENT, EVEN IF ANY DISTRIBUTOR GROUP OR SUBSCRIBER GROUP ENTITY HAS BEEN ADVISED OF THE POSSIBILITY THEREOF AND EVEN IF DUE TO CME’S ERROR, OMISSION, OR NEGLIGENCE.
(D) IF THE FOREGOING DISCLAIMER AND LIMITATION OF LIABILITY SHOULD BE DEEMED INVALID OR INEFFECTIVE BY A COURT OF COMPETENT JURISDICTION, NEITHER CME GROUP, NOR THEIR RESPECTIVE MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS SHALL BE LIABLE FOR ANY OF THE FOREGOING BEYOND THE ACTUAL AMOUNT OF LOSS OR DAMAGE, OR THE SUM OF FIFTY DOLLARS ($50.00), WHICHEVER IS LESS.

14 Confidentiality
14.1 Confidential Information will be held in confidence by the receiving party and not be disclosed without the disclosing party’s consent to any third party, except to any CME Group entity, CME Group licensors and any Distributor Group or Subscriber Group entity, and each of their respective agents, consultants and third-party advisors, provided they are bound by substantially similar confidentiality provisions as are set out in this Subscriber Addendum.
14.2 Confidential Information does not include Information that:
(a) at the time of disclosure is already publicly available;
(b) is already known to the receiving party prior to disclosure by the disclosing party;
(c) after disclosure becomes publicly available through no fault of the receiving party;
(d) becomes rightfully known to either Party without restriction from another source;
(e) is developed independently by the receiving party without use of the disclosing party’s Confidential Information; or
(f) is required to be disclosed by order of legal or regulatory authorities, or is requested by agency action of a regulatory authority with jurisdiction over the receiving party, provided that the receiving party provides reasonable notice to the disclosing party of such required disclosure and reasonably cooperates with the disclosing party in preventing or limiting such disclosure.

15 Modification 
15.1 Notwithstanding anything to the contrary hereunder, Distributor and CME may from time to time, modify and amend this Subscriber Addendum, and Subscriber agrees that Subscriber Group shall be bound by such terms upon notice. Subscriber may terminate the Subscriber Addendum upon ten (10) Days’ electronic or written notice upon such modification or amendment. By continuing to access or use the CME Licensed Information after Distributor or CME has provided Subscriber with notice of a modification, Subscriber is indicating on behalf of Subscriber Group that Subscriber Group agrees to be bound by the modified Subscriber Addendum. 

16 Miscellaneous. 
16.1 If any part, term or provision of this Subscriber Addendum is held illegal, invalid or unenforceable, the validity or enforceability of the remainder of the Subscriber Addendum shall not be affected. 
16.2 The failure of either Party (including CME Group) to exercise any right or remedy under this Subscriber Addendum or at law shall not prevent any further exercise of that right or remedy. 
16.3 In the event of any conflict between the terms and conditions of this Subscriber Addendum and any other agreement relating to Subscriber's receipt and use of CME Licensed Information, including, without limitation, the Distributor Agreement, the terms and conditions of this Subscriber Addendum will prevail. Notwithstanding the forgoing, CME may amend its Information Policies at any time on at least thirty (30)) Days written notice to Distributor and Subscriber Group will be required to comply with any such amendments.
16.4 Upon any termination of the Subscriber Addendum, Subscriber Group shall discontinue any use of the CME Licensed Information, and delete any and all CME Licensed Information received under this Subscriber Addendum, including without limitation any stored CME Licensed Information. Notwithstanding the forgoing, Subscriber Group may retain CME Licensed Information for the sole purpose of complying with Subscriber Groups regulatory obligations and for only as long as is necessary to comply with such requirements and shall not use the CME Licensed Information for any other purpose during this period. 

17 Survival 
17.1 The Definitions, Section 12 (CME Group as a Third-Party Beneficiary), Section 13 (Limitation of Liability and Damages), Section 17 (Survival) Section 18 (Governing Law and Jurisdiction), those sections concerning CME’s Intellectual Property Rights in the CME Licensed Information and, Sections that by their nature, should reasonably survive, and any amendments to the provisions of the aforementioned, will survive any termination or expiration of this Subscriber Addendum.

18 Governing Law and Jurisdiction
18.1 This Subscriber Addendum shall be governed by the internal laws of the State of Illinois, and the federal laws of the United States, without regard to conflicts of laws principles. The Parties hereto consent and submit to the exclusive jurisdiction and venue of the state courts located in Cook County, Illinois and the U.S. District Court for the Northern District of Illinois.
IN WITNESS WHEREOF, each of the Parties has caused this Subscriber Addendum to be duly executed in its name and on its behalf by the officer or representative duly authorized.
