PLEASE READ THE FOLLOWING TERMS AND CONDITIONS OF USE CAREFULLY BEFORE USING THIS SITE. Access and use of ISDA CDS MARKETPLACESM.com ("ISDA CDS MARKETPLACESM," "us," "we," or "the Site") is subject to your compliance with the terms and conditions set forth herein. This document should be examined carefully before accessing or using ISDA CDS MARKETPLACESM.
By accessing or using ISDA CDS MARKETPLACESM, you agree to be legally bound by the following terms and conditions. You may not access or use ISDA CDS MARKETPLACESM if you do not agree to be so bound. In addition, by accessing the websites of firms such as Markit Group Limited (“Markit”)(hereafter “Providers”) through links on this Site, you agree to review all terms of use posted therein and to use the information in accordance with those terms.
The terms and conditions set forth herein may be modified, at the discretion of ISDA CDS MARKETPLACESM, at anytime, and any such modification shall be effective immediately upon the posting of the modified terms and conditions. We will, however, seek to allow reasonable notice of any modifications. Through your continued access and use of ISDA CDS MARKETPLACESM you agree to periodically review these terms and conditions and to be bound by such future modification(s). Continued use of the Site following any such change means you accept and will abide by the change.
You should understand that ISDA CDS MARKETPLACESM does not provide legal or financial advice as to whether to engage in any specific commercial transaction. This Site is designed for educational purposes only. It is not meant to be a substitute for legal advice from an attorney, with whom you should consult with for any specific legal concern. Nor is it intended to offer guidance as to the feasibility or non-feasibility of entering any specific commercial transaction. Neither ISDA CDS MARKETPLACESM nor the International Swaps and Derivatives Association, Inc. (“ISDA”), necessarily endorse any of the viewpoints contained in any material expressed in the Content. Such viewpoints are solely those of the relevant content providers and, if so designated, the concern or firm with which they are affiliated.
While ISDA CDS MARKETPLACESM seeks to provide timely and accurate information to those who access the Site and our database, it cannot assure the timeliness and accuracy of the information presented in the Site or in our database. The primary source materials included in our database are included only for the reference of the user. ISDA CDS MARKETPLACESM, for itself, ISDA, and the Providers, does not warrant that any information on the Site or in our database is up-to-date or accurate or that any financial information, or transactional materials referenced in the Site or included in our database is the “best practice” at the current moment or represents the present status of the Credit Default Swaps marketplace.
USE OF MATERIALS
NO CONTENT FROM THIS SITE MAY BE COPIED, REPUBLISHED, UPLOADED, OR OTHERWISE DISTRIBUTED. NOTWITHSTANDING, EXCEPT FOR “MARKIT SINGLE NAME AND END OF DAY COMPOSITE PAR SPREAD DATA,” YOU MAY DOWNLOAD ONE COPY OF THE MATERIALS ON ANY SINGLE COMPUTER FOR YOUR PERSONAL, NON-COMMERCIAL USE, SO LONG AS ALL COPYRIGHT, TRADEMARK AND OTHER PROPRIETARY NOTICES REMAIN INTACT AND ARE PROMINENTLY DISPLAYED. YOU MAY NOT SUBLICENSE, TRANSFER OR OTHERWISE MAKE AVAILABLE ANY CONTENT TO ANY THIRD PARTY FOR COMMERCIAL PURPOSES OR FINANCIAL GAIN OR USE THE CONTENT IN ANY OTHER MEDIA OR IN ANY LOCATION. YOU MAY NOT ALTER OR MODIFY THE CONTENT IN ANY WAY.
YOU ARE ADVISED THAT MARKIT SINGLE NAME AND END OF DAY COMPOSITE PAR SPREAD DATA IS COPYRIGHTED BY MARKIT AND IS DISPLAYED HERE WITH ITS PERMISSION AND FOR VIEWING PURPOSES ONLY. THE MARKIT DATA MAY NOT BE REPRODUCED, REDISTRIBUTED, OR TRANSFERRED IN ANY MANNER WITHOUT AN APPROPRIATE LICENSE FROM MARKIT.
USER PRIVACY
ISDA CDS MARKETPLACESM respects the privacy of its users. Therefore, we will not monitor, edit, or disclose the contents of any e-mail or other communication with ISDA CDS MARKETPLACESM unless required in the course of normal maintenance of ISDA CDS MARKETPLACESM and ISDA and their systems or unless required to do so by law or in the good faith belief that such action is necessary to (a) comply with the law or comply with legal process served on ISDA CDS MARKETPLACESM or ISDA; or (b) protect or defend the rights or property of or ISDA. Users shall remain solely responsible for the content of their messages, regardless of what the content is. All personal information collected through ISDA CDS MARKETPLACESM is provided on a voluntary basis by its users and visitors through a visible means of data entry or by collecting information using a registration form.
Upon request, ISDA CDS MARKETPLACESM will (a) remove you and your personal information from our database; (b) correct personal information that you state is erroneous; or (c) permit you to "opt out" of further e-mail contact (excepting notification of major changes to the service) while still allowing you to access to ISDA CDS MARKETPLACESM.
ISDA CDS MARKETPLACESM logs IP addresses for systems administration and troubleshooting purposes. Your IP address indicates the location of your computer on the Internet.
ISDA CDS MARKETPLACESM may also gather anonymous information that it or ISDA may use or share with third parties. This information does not personally identify you, but may be helpful in improving the services offered. Generally this information is collected through "traffic data" and may entail the use of "cookies," "IP addresses," or other numeric codes used to identify a computer.
COOKIES
"Cookies" give users a special, random ID in the form of small text files, which are stored on the hard drive of a user's computer. The use of cookies is an industry standard. ISDA CDS MARKETPLACESM employs cookies to recognize you and your access privileges for certain locations on its Site as well as to track site usage. You can set your browser to refuse all cookies or to indicate when a cookie is being sent. Members or visitors who do not accept cookies from ISDA CDS MARKETPLACESM cannot access some areas of ISDA CDS MARKETPLACESM.
ISDA CDS MARKETPLACESM may, in its sole discretion, perform statistical analysis of the collective characteristics and behavior of its users to measure interests in its operations (for product development and other business development purposes).
Users should be aware that when they are on ISDA CDS MARKETPLACESM , they could be directed to other sites that are beyond our control. There may be links to other sites from ISDA CDS MARKETPLACESM pages that take you outside our services. These may include links from sponsors and partners that may use the Site as part of a co-branding agreement with ISDA CDS MARKETPLACESM or ISDA. These other sites may send their own cookies to users, collect and track data, or solicit personal information. ISDA CDS MARKETPLACESM does not endorse the content found on such third-party sites. You assume sole responsibility for your use of third-party links and pointers.
If you participate in any discussions on ISDA CDS MARKETPLACESM, you agree not to use any language or engage in any conduct that is threatening, abusive, vulgar, discourteous or criminal. You also agree not to post or transmit information or materials that would violate the rights of a third party or which would contain a virus or other harmful component.
Please keep in mind that whenever you give out information online – including, for example, posting a message to a discussion group – that information can be collected and used by people you do not know. ISDA CDS MARKETPLACESM cannot guarantee the security of any information you disclose online, and you do so at your own risk. ISDA CDS MARKETPLACESM cannot control the acts of its visitors who use the ISDA CDS MARKETPLACESM interactive features.
Unless otherwise noted, all materials, including images, illustrations, designs, icons, photographs, video clips, and written and other materials that are part of this Site, are copyrights, trademarks, trade dress and/or other intellectual properties owned, controlled or licensed by ISDA CDS MARKETPLACESM and/or ISDA.
By publishing, uploading or submitting any materials to us, including messages posted in any of our discussion groups or chat rooms, you automatically grant (or warrant that the owner of such rights has expressly granted) ISDA CDS MARKETPLACESM and ISDA a perpetual, royalty-free, irrevocable, nonexclusive right and license (with the right to grant sublicenses) to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute such materials, incorporate such material and otherwise exploit all content or information you publish on the Site into any form, medium or technology, now known or later developed. You further agree that all such communications you make to the Web Site shall not be deemed confidential. By your acceptance of these terms and conditions you agree to waive all recourse against ISDA CDS MARKETPLACESM or ISDA for any alleged or actual infringement or misappropriation of any proprietary or confidential publications or communications to ISDA CDS MARKETPLACESM or ISDA.
GENERAL DISCLAIMER AND LIMITATION OF LIABILITY
ISDA CDS MARKETPLACESM makes no representation that the materials contained in the Site are appropriate or authorized for use in all countries, states, provinces, counties, or any other jurisdiction. If you choose to access the Site, you do so on your own initiative and risk and you are responsible for compliance with all applicable laws.
YOU UNDERSTAND AND AGREE THAT ISDA CDS MARKETPLACESM AND ISDA CANNOT AND DO NOT REPRESENT, WARRANT OR GUARANTEE THAT FILES, SOFTWARE OR INFORMATION OF ANY KIND OR FROM ANY SOURCE AVAILABLE FOR DOWNLOADING THROUGH ISDA CDS MARKETPLACESM, THE SITE OR THE DATABASE WILL BE FREE OF INFECTION, VIRUSES, WORMS, TROJAN HORSES OR OTHER CODE OR DEFECTS THAT MAY MANIFEST HARMFUL AND DESTRUCTIVE PROPERTIES.
BECAUSE OF THE POSSIBILITY OF HUMAN, TECHNICAL AND MECHANICAL ERROR, AS WELL AS OTHER FACTORS, ISDA CDS MARKETPLACESM, ISDA, AND THE PROVIDERS, INCLUDING BUT NOT LIMITED TO MARKIT, ARE NOT RESPONSIBLE FOR ANY ERRORS IN OR OMISSIONS FROM THE INFORMATION CONTAINED IN OR ACCESSED THROUGH THIS WEBSITE. THE MATERIALS AND DATA APPEARING IN ISDA CDS MARKETPLACESM ARE PROVIDED "AS IS," IS SUBJECT TO CHANGE WITHOUT NOTICE, AND IS OFFERED WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESS OR IMPLIED. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, ISDA CDS MARKETPLACESM, ISDA, AND THE PROVIDERS DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND OF FITNESS FOR A PARTICULAR PURPOSE. FURTHERMORE, ISDA CDS MARKETPLACESM, ISDA, AND THE PROVIDERS DO NOT WARRANT THAT THE FUNCTIONS CONTAINED IN THE MATERIAL WILL BE UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE SITE OR THE SERVER(S) THAT MAKES THE ISDA CDS MARKETPLACESM SITE AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. ISDA CDS MARKETPLACESM, ISDA, AND THE PROVIDERS ALSO DO NOT WARRANT OR MAKE ANY REPRESENTATIONS OR WARANTIES REGARDING THE USE OR ACCURACY, TIMELINESS OR RELIABILITY OF THE MATERIALS ON ISDA CDS MARKETPLACESM. YOU (AND NOT ISDA CDS MARKETPLACESM OR ISDA OR THE PROVIDERS) SHALL BEAR THE ENTIRE COST OF ALL NECESSARY SERVICING, REPAIR, OR CORRECTION. APPLICABLE LAW MAY NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU.
ISDA CDS MARKETPLACESM, ISDA, AND THE PROVIDERS ALSO SPECIFICALLY DISCLAIM THE CREATION OF ANY WARRANTIES FOR THE BENEFIT OF THIRD PARTIES.
UNDER NO CIRCUMSTANCES SHALL ISDA CDS MARKETPLACESM, ISDA AND/OR ANY PROVIDER BE LIABLE TO THE USER AND/OR ANY THIRD PARTY, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT OR IN TORT OR ANY OTHER THEORY, FOR: (A) LOSS OR DAMAGE CAUSED IN ANY PART BY THE USE OF DATA OR OTHER MATERIALS ON THIS WEBSITE; OR (B) ANY INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL OR PUNITIVE DAMAGES THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, THE MATERIALS ON THIS WEB SITE, EVEN IF ISDA CDS MARKETPLACESM, ISDA, OR THE PROVIDERS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. APPLICABLE LAW MAY NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY OR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU. IN NO EVENT, HOWEVER, SHALL ISDA CDS MARKETPLACESM’S, ISDA’S, AND/OR THE PROVIDERS’ TOTAL LIABILITY TO YOU FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION (WHETHER IN CONTRACT, TORT, INCLUDING, BUT NOT LIMITED TO NEGLIGENCE, OR OTHERWISE) EXCEED THE AMOUNT PAID BY YOU, IF ANY, FOR ACCESSING THE SITE.
CHOICE OF LAW
The user’s access to and use of the ISDA CDS MARKETPLACESM Web Site, and the terms of this disclaimer are governed by the laws of the State of New York, without reference to conflicts of laws and without regard to its location of execution or performance.
LIMITATIONS
You agree that any and all disputes which may arise under this Agreement must be brought within one year of the events giving rise to the underlying claim.
FORUM
You agree that any and all disputes which may arise under or be related to this Agreement shall be litigated before a court located in the City of New York, New York, U.S.A., where ISDA CDS MARKETPLACESM and ISDA are located, and the Providers furnished information to ISDA, to the exclusion of the courts of any other state or country.
TERMINATION
These terms and conditions are effective until terminated by either party. You may terminate these terms and conditions at any time by destroying all copies of materials obtained from ISDA CDS MARKETPLACESM whether accepted under the terms and conditions hereof or otherwise. These terms and conditions will terminate immediately without notice from ISDA CDS MARKETPLACESM if, in its sole discretion, you fail to comply with any term or condition or provision of a term or condition of this Agreement. Upon termination, you must continue to adhere to the provisions of the provisions governing the “Use of Materials.”
