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Terms of Use
Terms of Use for the Online System MD+S interactive of Deutsche Börse AG (MD+S interactive Terms of Use - Subscriber)

Effective as of 15 November 2023
Version 1.1

1 Scope of Applicability and Definitions
1.1 The Terms of Use govern the usage of the contract management system within the online system MD+S interactive of Deutsche Börse AG by Subscribers as defined below.

1.2 The following terms shall have the meanings set out below:

MD+S interactive
Online system of Deutsche Börse AG for authorized users of the Subscriber which contains a contract management system that is to be used for ordering, Reporting and other purposes.

MD+S interactive User
Natural person authorized by the Subscriber to execute certain functions within MD+S interactive.

Subscriber
Customer of a Vendor or a Sub-Vendor which receives Information for Internal Usage.

In addition, the definitions of the General Terms and Conditions for the Market Data Dissemination Agreement of Deutsche Börse AG apply in the currently valid version for the MD + S interactive Terms of Use. In a conflict case the terms defined in this Terms of Use shall prevail.

2 Use of MD+S interactive by the Subscriber
2.1 MD+S interactive contains the following functions, among others:
a) specifying and changing the customer profile;
b) specifying the usage of Information Products;
c) notifying Affiliated Companies;
d) notifying Information Products for a Non-Display Information Usage;
e) notifying Information Products for a CFD Information Usage;
f) notifying the API Partner;
g) administrating MD+S interactive Users.

2.2 The Subscriber will maintain the necessary technical environment to be able to use MD+S interactive. It will, inter alia, use e-mail accounts the SPAM-filters of which will not block confirming e-mails within the meaning of Section 4.2 below sent by the Deutsche Börse AG e-mail address specified in MD+S interactive for this purpose. The Subscriber uses one of the five leading desktop browsers (Microsoft Internet Explorer, Microsoft Edge, Mozilla Firefox, Google Chrome or Apple Safari), has activated Java Script, and has allowed cookies for the website of Deutsche Börse AG.

2.3 The Subscriber assures that every registered MD+S interactive User is entitled to exercise certain functions within MD+S interactive (in particular, entries in the system, ordering and cancellation of products) and has been authorized accordingly by the Subscriber. 

2.4 Deutsche Börse AG will expend reasonable efforts, taking into account the current state of information technology, to ensure the availability of MD+S interactive. Within its sphere of activity, Deutsche Börse AG will immediately investigate justified complaints and ensure that they will be taken into account immediately. However, Deutsche Börse AG does not guarantee any service levels regarding the availability of MD+S interactive. 

3 MD+S interactive Users, Logins and Passwords
3.1 The following provisions apply to the registration of MD+S interactive Users under agreements referring to the MD+S interactive Terms of Use:

a) The Subscriber must register MD+S interactive Users online with Deutsche Börse AG.
b) Further MD+S interactive Users shall be registered and deregistered online via MD+S interactive.
c) Each MD+S interactive User registered by the Subscriber has a unique login which shall be the email address of that MD+S interactive User. Upon registration of an MD+S interactive User, such MD+S interactive User will receive an e-mail from Deutsche Börse AG containing a link which enables the MD+S interactive User to create a password. The login and the password of an MD+S interactive User must not be shared.
d) The Subscriber shall be solely responsible for the use of the passwords which allow the Subscriber to execute binding transactions through MD+S interactive. The identification of the Subscriber by means of any password registered with MD+S interactive unequivocally binds the Subscriber to any transactions carried out by using the password.
e) In case of loss or theft of a password, the relevant MD+S interactive User of the Subscriber must immediately change that password via MD+S interactive. Only such change of the password will allow the Subscriber to avoid liability for any misuse that could be made of the password. 

4 MD+S interactive license suggestion
4.1 Based on the information provided by the Subscriber in MD+S interactive, Deutsche Börse AG may determine a licensing suggestion for the selected Information Product. In this case the Subscriber shall be obliged to choose the scope of the Licensed Information by submitting the proposed licensing suggestion to Deutsche Börse AG and to conclude the applicable license agreement with Deutsche Börse AG, the Market Data Dissemination Agreement or Non-Display Agreement.

4.2 An essential prerequisite for the correctness of the licensing proposal is the provision of complete and accurate information. The Subscriber shall be responsible if a proposed licensing suggestion results in over-licensing or under-licensing because of incomplete or incorrect information. To this extent, the Subscriber is responsible for checking the completeness and accuracy of the information it provides

5 Keeping of Data and Data Protection

5.1 The computerized registers, kept in the computer systems of Deutsche Börse AG under reasonable security conditions, will be considered as sufficient proof of communication of orders and other transactions made between the parties. The electronic archive of transactions is saved on a reliable and long-lasting medium able to provide valid proof of the saved transactions.

5.2 When using MD+S interactive, individuals associated with the Subscriber will be required to provide Deutsche Börse AG with personal data like, for example, their name and their business address. This data is processed by Deutsche Börse AG's staff for the purposes of the contract implementation and customer service. When processing personal data Deutsche Börse AG will always comply with the requirements of the applicable data protection laws and regulations. Further information on processing of the personal data and the rights of affected individuals can be found in the privacy notice of Deutsche Börse AG available on MD+S interactive.

6 Limitation of Liability
6.1 Deutsche Börse AG shall be liable to the full extent in the following cases:
a) For loss or damage occasioned by loss of life, bodily injury or injury to health that is at least negligently caused by Deutsche Börse AG, its legal representatives or vicarious agents (Erfüllungsgehilfen);
b) for any other loss or damage caused by intentional or grossly negligent acts or omissions of Deutsche Börse AG, its legal representatives or vicarious agents (Erfüllungsgehilfen); and.
c) for loss or damage resulting from the breach of a warranty or a statutory requirement under the German Product Liability Act (Produkthaftungsgesetz).

6.2 In all other cases (other than those listed in Section 6.1), Deutsche Börse AG shall only be liable for loss or damage resulting from the breach of a material contractual obligation (wesentliche Vertragspflicht) by Deutsche Börse AG, its legal representatives or vicarious agents (Erfüllungsgehilfen). A material contractual obligation is a contractual obligation that is an essential prerequisite for the proper performance of the contract and on the fulfilment of which the Contracting Party would ordinarily rely and also be reasonably entitled to rely. If a material contractual obligation is breached as a result of ordinary negligence, Deutsche Börse AG's liability shall be limited to compensating for foreseeable loss or damage typically arising at the time the service was provided within the use of contract management system MD+S interactive and in amount to the damages that are foreseeable and typical.

6.3 Damage claims of the Subscriber shall become time-barred after two years as far as the respective agreement does not provide for a shorter period and the claims do not derive from an injury of life, body, health or freedom or from willful intent. The deadline shall commence at the end of that year within which the claim has arisen and the Subscriber has gained knowledge about the circumstances constituting the claim and the identity of the debtor or without gross negligence could have gained knowledge.

7 Final provisions
7.1 The MD+S interactive Terms of Use may be unilaterally changed by Deutsche Börse AG taking adequately into account the Subscriber's legitimate interests and conditional upon the Subscriber being given at least 90 days notice of the changes in written or electronic form. In the event of urgent technical requirements the aforementioned period of notice can be reduced. Messages in electronic form include e-mail messages as well as messages on the website of Deutsche Börse AG under www.deutsche-boerse.com/mds_e addressed to all Subscribers.

7.2 The Subscriber shall be entitled to object in written or electronic form to unilateral changes of these Terms of Use within 30 days after the changes have been announced. The term is met if the objection is received by Deutsche Börse AG before the 30 days term expired. Deutsche Börse AG shall be entitled to terminate the entire Market Data Dissemination Agreement of the objecting Subscriber with at least 30 days notice effective at the time the unilateral changes take effect.

7.3 This Terms of Use shall be subject to the laws of the Federal Republic of Germany; the UN Convention on Contracts shall be excluded. Exclusive place of jurisdiction for disputes deriving from or in connection with the MD+S interactive Terms of Use shall be Frankfurt am Main; however, Deutsche Börse AG shall be entitled to sue the Subscriber also at its general place of jurisdiction.

7.4 The invalidity or unenforceability of individual provisions or an omission of the Terms of Use shall not affect the validity of the entire Terms of Use. Should any provision of this Terms of Use be invalid or void, an appropriate legally permissible provision shall apply in place of the invalid or void provision which corresponds as closely as possible to the economic content of the invalid or unenforceable provision. In the case of an omission, a provision shall apply which corresponds to that which the Parties intended or would have intended had they been aware of the omission.
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