Private Investor usage Policy

A “Private Investor” is a customer who is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services and who meets all of the conditions set out below:

1. The customer subscribes (i.e. registers and pays) in a personal capacity;
2. The customer is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
3. The customer does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
4. The customer uses the service solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
5. The customer does not redistribute, republish or otherwise provide any data from the service to any third party in any manner or use or process Data for any commercial purpose;
6. The Data Charge is designed to cover individuals and will be maintained in the customer’s name and not in the company name – the exception to this would be a share club operating on a non-professional basis.

Where individuals are unable to meet the criteria at points 2 and 3 (above), but would like access solely in relation to the management of their personal funds, the Redistributor should consult with the Exchanges to confirm whether Private Investor status is applicable.
The Redistributor will be asked to supply satisfactory evidence that the individual concerned is indeed acting in a personal capacity in respect of the management of their personal funds.
If agreement is not made in advance, Private Investor status will not apply.

The following are examples where Private Investor status cannot be applied (please note that this list is not exhaustive):

• Day traders dealing at a financial institution’s premises (whether it is a member or nonmember firm);
• A self employed individual maintaining an account using their company’s name.