CIIS shall be entitled to conduct, or arrange for a third party to conduct, Information audit of the Subscriber in order to control the compliance with the terms and conditions of use of Information determined by the CIIS.
The Subscriber shall maintain, for a period of three years, complete and accurate records or accounts of its user to enable accurate calculations of the fees due to CIIS.
No Subscriber shall, without the prior written approval of CIIS, further disseminate the Information or any part thereof to any other person except Subscriber may distribute limited extracts of the Information provided this is done infrequently in a non-systematic manner. However, CIIS should have sole and absolute discretion to define limited, infrequent and non-systematic in this condition.
No Subscriber shall use or permit the use of the Information or any part thereof for any illegal purpose.
No Subscriber shall use the Information or any part thereof other than in the ordinary course of its own business (which shall not include dissemination to third parties) except Subscriber may distribute limited extracts of the Information provided this is done infrequently in a non-systematic manner. However, CIIS should have sole and absolute discretion to define limited, infrequent and non-systematic in this condition.
No Subscriber shall use the Information or any part thereof to establish, maintain or provide or to assist in establishing, maintaining or providing an Off Market.
No Subscriber shall decipher the Information or use the Information, without prior written consent of CIIS, for (i) calculation of indices of stocks, securities, commodities, markets, or for (ii) development, issuance, creation or sponsorship of any financial instruments or investment products (including, without limitation, derivatives, structured products, investment funds or exchange-trade funds) where the price, return and/or performance of such instrument or product is based on, related to, or intended to track, any element of the Information or a proxy for such element.
CIIS shall be able to terminate the Subscriber’s contract at CIIS’s direction at any time should Subscriber be in breach of any of the provisions of such contract and has failed to rectify such breach within 30 days of receipt of written notice of the breach.
The Subscriber shall not provide access to the Information to any end user who is not an employee of the Subscriber. The Subscriber shall ensure that the Information is used only by its end users pursuant to the terms and conditions of its contract with Thomson Reuters using the unique password and secure identification device assigned to that end user. The Subscriber shall ensure that there are effective controls to prevent simultaneous login by the same end user account on different Subscriber Units and sharing of Subscriber Units, passwords and secure identification devices by individual end users. Each Subscriber Unit may only be used by one designated end user.
If CIIS audit visit discloses that the Subscriber Fees paid by the Subscriber over the period being investigated were more than 5% underreported, in any event, where the audit visit discloses that any of the Subscriber Reports were inaccurate by understatement, the Subscriber shall pay an amount equal to the difference between the amount which should have been previously paid to the CIIS if such reports had been accurate and the amount actually paid to the CIIS plus interest from the original due date up to the date the payment is actually received by Licensor at the monthly rate of 4 per cent for the currency of the outstanding amount as at the applicable due date.
No Subscriber shall, without the prior written approval of CIIS disseminate the Information or any part thereof to any other person.
The guidelines of Reporting, Audit, Non-Display Information Usage, etc. can be found at the following URL: http://www.ciis.com.hk