Nasdaq Legal Information

The Nasdaq Terms of Service ("Agreement") is a contract in electronic form between you (“User”, “you”, “your” and “yourself”) and Nasdaq, Inc. and its parents, successors, subsidiaries, affiliates, (“Nasdaq”), a Delaware Corporation.

By registering, logging onto the Nasdaq website or using the sites or services (collectively, the “Services”), you agree to the terms and condition of this Agreement.  

NOTICE OF ARBITRATION AGREEMENT
THIS AGREEMENT CONTAINS A BINDING ARBITRATION CLAUSE.

All disputes between you and Nasdaq will be resolved by binding arbitration.  You thus give up your right to litigate disputes with us in court (except for matters that may be taken to small claims court).  Disputes will be decided by a neutral arbitrator and not a judge or jury.

You are entitled to a fair hearing, but arbitration procedures are simpler and more limited than court proceedings.  Arbitrator decisions are as enforceable as any court order and are subject to very limited review by a court.

1. Registration.  To access and participate in the Services, User may be required to complete a registration process and create an account (“Account”) by providing current, complete and accurate information as prompted by the registration form.  Only natural persons may register for an Account.  User is responsible for any activities or actions under User’s Account, whether or not User has authorized such activities or actions, and User must promptly notify Nasdaq of any unauthorized use of User’s Account.  Nasdaq reserves the right to refuse registration for any reason.  

2. Use of the Services. To use our Services you must:

  • Comply with all applicable law and regulations and not participate in, facilitate or further illegal activities;
  • Immediately notify Nasdaq if you learn of a security breach or other illegal activity on the Services;
  • Protect your Account name and password;
  • Not post content that contains explicit or graphic descriptions or accounts of sexual acts or is threatening, abusive, harassing, defamatory, libelous, deceptive, fraudulent, invasive of another’s privacy or tortious;
  • Be transparent. Disclose all personal affiliations to companies and holdings in securities when submitting any related content;
  • Not engage in activity that is harmful to Nasdaq, our customer or members, advertisers, affiliates, or vendors;
  • Not use any automated process to access or use the Service or any process, whether automated or manual, to capture data or content from the Service or circumvent any mechanisms for preventing the unauthorized reproduction or distribution of the Service for any reason; 
  • Not use the Service or any process to damage, disable, impair, or otherwise attack the Service or the networks connected to the Service; and
  • Do not attempt to manipulate a stock's price. Intentionally concealing a position in a security and/or presenting false or misleading statements in order to manipulate a stock price will not be tolerated.

To prevent violations and enforce this Agreement and remediate any violations including engaging in any suspicious activity, Nasdaq can take any technical, legal and other action that Nasdaq deems, in our sole discretion, necessary and appropriate with or without notice to you including notifying any relevant government or regulatory authority.

3. Access.  You are responsible for obtaining at your own expense all equipment and services needed to access the Services. If you are accessing the Services by a mobile device, your wireless carrier may charge you fees for data, text messaging, and other wireless access or communications services. Nasdaq does not guarantee that its Services can be accessed through all wireless devices or service plans or are available in all geographical locations.

4. Posting Content on the Sites and Services.  

You can post content to the Services only if: (a) you created and own the rights to the content or you have the owner’s express permission to post the content; and (b) the content does not infringe any other person’s or entity’s rights (including copyright, trademarks, or privacy rights) or violate applicable laws, this Agreement, or any other posted policies.  

You acknowledge that any content you upload to the Services (including but not limited to: comments, forum messages, reviews, text, video, audio and photographs, as well as computer code and applications) may be edited, removed, modified, published, transmitted, and/or displayed by Nasdaq and you waive any rights you may have in having the content altered or changed in a manner not agreeable to you. Content may also be included in Nasdaq's RSS feeds, APIs and likewise be made available for republishing through other formats.

You grant Nasdaq a perpetual, nonexclusive, world-wide, royalty free, sub-licensable license to all of your content, which includes without limitation the right for Nasdaq or any third party it designates, to use, copy, transmit, excerpt, publish, distribute, publicly display, publicly perform, create derivative works of, host, index, cache, tag, encode, modify and adapt (including without limitation the right to adapt to streaming, downloading, broadcast, mobile, digital, thumbnail, scanning or other technologies) in any form or media now known or hereinafter developed, including any content posted on or to the Nasdaq Site through a third party.

Nasdaq reserves the right to delete, move, or edit any content that it, in its sole discretion, deems abusive, defamatory, obscene, in violation of copyright or trademark laws, or otherwise unacceptable.

You are responsible for any content you post to our Service and the consequences of sharing or publishing such content with others or the general public.  Nasdaq is not responsible for the consequences of sharing or posting any personal or other information on our Services.

5. License.  

Nasdaq grants to User a non-exclusive, non-assignable, non-transferable license to use the Services solely for User’s internal non-commercial use.

Unless you have a written agreement in effect with Nasdaq which states otherwise, you may only provide a hypertext link to the Nasdaq Site on another website, provided that (a) the link must be a text-only link clearly marked "Nasdaq Home Page" or "nasdaq.com", (b) the link must point to the URL "https://www.nasdaq.com" and not to other pages within the Nasdaq Site, (c) the appearance, position and other aspects of the link may not be such as to damage or dilute the goodwill associated with Nasdaq’s name and trademarks, (d) the appearance, position and other aspects of the link may not create the false appearance that an entity is associated with or sponsored by Nasdaq, (e) the link, when activated by a user, must display the Nasdaq Site full-screen and not within a "frame" on the linked website, and (f) Nasdaq reserves the right to revoke its consent to the link at any time in its sole discretion.

6. Restrictions. Except as detailed in Section 5, User shall not market, sell or distribute the Services or otherwise provide the Services to any third parties including, but not limited to, placing or distributing any Nasdaq’s content on a third party platform or utilizing the Services to direct, manage or provide advisory services for clients of another investment advisor without Nasdaq’s prior written consent.  User shall not share, transfer, disclose, copy, publish or create derivative works from the content or the Service without Nasdaq’s prior written approval 

7. Third Party Notices and Terms.  You shall be subject to the third party notices and terms detailed in the Additional Terms.

8. Change in Service. User acknowledges and agrees that nothing in this Agreement constitutes an undertaking by Nasdaq to provide updates, modifications or enhancements to the Service or to continue providing the Service, or any aspect or portion of the Service, in the future.  Nasdaq may, in its sole discretion, change any aspect of a Service or discontinue a Service without notice.  

9. Payment.  User agrees to pay Nasdaq the then effective charges, if any, for access to the Services including all applicable deposits, interest, and late fees and/or penalties.  In addition, User shall pay any taxes, charges, or assessments (other than taxes imposed on the net income of Nasdaq) by any foreign or domestic, national, state, provincial or local government bodies or subdivisions thereof, and any penalties or interest relating to the provision of the Service to User.  If User is required by applicable law to deduct or withhold any such tax, charge or assessment from the amounts due Nasdaq, then such amounts shall be increased so that the net amount actually received by Nasdaq after deduction or withholding of any such tax, charge or assessment, will equal one hundred percent (100%) of the charges that are owed.  Any payments for the Services shall be due within thirty (30) days of receipt of an invoice (if applicable).

10. Ownership; Trademark Rights

The materials contained in the Services, including the works of authorship, content, text, graphics, images, audio, video, information and data including the “Look and Feel” (collectively "Content") are owned, licensed, or controlled by Nasdaq or its licensor as the owner, licensor, or provider of such Content. The Content is protected by copyrights, trademarks, service marks, and/or other proprietary rights and laws of the United States and other countries. You may not copy, reproduce, transmit, display, perform, distribute, rent, sublicense, alter, store for subsequent use, create any derivative works from, offer products or services based on, or otherwise use in whole or in part in any manner the Content without the prior written consent of Nasdaq. Notwithstanding the preceding sentence, (a) you are permitted to engage in activities involving the Content to the extent that such activity constitutes "fair use" under the Copyright Act of 1976 (17 U.S.C. §107), as amended, and (b) you are permitted to view, download, and print a single copy of the Content for your personal, noncommercial use, provided that you maintain all copyright, trademark and other notices contained on such single copy. No title to the Service or Content therein is transferred to User. 

A number of the trademarks, service marks, and logos used in the Services are registered and unregistered trademarks and/or service marks owned by Nasdaq in the United States and certain other countries throughout the world (collectively, the "Nasdaq Marks"). Nothing contained in the Services should be construed as granting, by implication, estoppel or otherwise, any license or right to use any of the Nasdaq Marks without the written permission of Nasdaq. Any misuse of the Nasdaq Marks is strictly prohibited and may violate trademark laws.

Other brands or product names used on the website are trademarks and/or service marks of their respective owners, should be treated as such, and may be registered in various jurisdictions.

11. Confidential Information. User acknowledges that the Services and content therein may be considered confidential and proprietary information belonging to Nasdaq. User shall use the same standard of care that it uses to protect User’s own confidential or proprietary information, but no less than a reasonable standard of care, to prevent the unauthorized use, dissemination or publication of the confidential or proprietary information. The duties in this Section do not apply to information which when compiled and presented in this form is: (1) lawfully within User's possession, prior to this Agreement; (2) voluntarily disclosed to User by a third-party so long as that party does not breach any obligation not to reveal such information; (3) voluntarily disclosed to the public by Nasdaq; or (4) generally known to the public. The obligation of non-disclosure shall survive for as long as Nasdaq treats the information disclosed to User as confidential.

12. DISCLAIMERS. 

THERE ARE NO STANDARDS OF PERFORMANCE FOR THE SERVICE.  NASDAQ AND ITS PROVIDERS PROVIDE THE SERVICE AND CONTENT "AS IS" AND MAKE NO WARRANTIES OR REPRESENTATIONS OF ANY KIND EXPRESS, IMPLIED OR STATUTORY REGARDING USE OF THE SERVICE OR THE ACCURACY, COMPLETENESS OR TIMELINESS OF THE CONTENT.  NASDAQ AND ITS PROVIDERS DISCLAIM THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. SOME STATES DO NOT ALLOW US EXCLUDE CERTAIN WARRANTIES. IN THOSE STATES, NASDAQ’S WARRANTIES ARE LIMITED TO THE EXTENT PERMITTED BY LAW.

From time to time, the Services may include information regarding securities. 

Neither Nasdaq nor any of Nasdaq's third party information providers ("Information Providers") (nor any of these entities' officers, employees, directors, or agents): (1) has passed on the merit of any of these securities; or (2) has endorsed or sponsored any of these securities. The information contained herein is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.

The Services may contain information on various finance and accounting issues, securities and securities markets (collectively, "Financial Content"); however there is no guarantee that any information on these matters is true, correct, or precise. ALL INFORMATION, INCLUDING BUT NOT LIMITED TO FINANCIAL CONTENT, IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND. NASDAQ AND THE INFORMATION PROVIDERS MAKE NO REPRESENTATIONS AND DISCLAIM ALL EXPRESS, IMPLIED, AND STATUTORY WARRANTIES OF ANY KIND TO USER AND/OR ANY THIRD PARTY, INCLUDING WARRANTIES AS TO ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY, OR FITNESS FOR ANY PARTICULAR PURPOSE.

Investment related advice and comments presented on the Services are solely those of the individuals or entities who published them. They do not in any way represent the opinions of Nasdaq on whether to engage in any specific investing decision. Use caution as you read through information posted on the Services and when engaging other users.

Nasdaq may, but has no legal obligation to, remove content that it determines in its sole discretion to be inaccurate, unlawful, offensive threatening, libelous, defamatory, obscene or otherwise objectionable or violates any party's intellectual property.

The Nasdaq websites and/or Services are not a forum to register a formal regulatory complaint. If you have a specific complaint about the trading of a security, a broker-dealer, or registered representative, please register your complaint with an appropriate regulatory entity. For more information, see www.sec.gov (U.S. Securities and Exchange Commission), www.finra.org (Financial Industry Regulatory Authority) or www.nasaa.org (North American Securities Administrators Association).

Options involve risk and are not suitable for everyone. Each investor should review transaction costs, margin requirements and tax considerations with a broker and tax advisor before entering into any options strategy. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options. Copies may be obtained from your broker, one of the exchanges or The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, IL 60606 or call 1-888-OPTIONS or visit www.888options.com. Any strategies discussed, including examples using actual securities and price data, are strictly for illustrative and education purposes and are not to be construed as an endorsement, recommendation or solicitation to buy or sell securities.

13. LIMITATION OF LIABILITY. 

THIS LIMITATION OF LIABILITY DOES NOT INCLUDE NASDAQ’S WILLFUL TORTIOUS MISCONDUCT.  IF NASDAQ IS FOR ANY REASON HELD LIABLE TO USER, OR TO ANY OTHER INDIVIDUAL OR ENTITY, INCLUDING, BUT NOT LIMITED TO THE USER, WHETHER IN CONTRACT OR IN TORT, THE LIABILITY OF NASDAQ WITHIN A SINGLE YEAR OF THE AGREEMENT IS LIMITED TO THE GREATER OF: (1) ONE YEAR'S CHARGES, IF ANY; OR (2) $50.00.

NASDAQ SHALL NOT BE LIABLE TO USER OR TO ANYOTHER ENTITY OR INDIVIDUAL, INCLUDING, BUT NOT LIMITED TO THE USER, FOR ANY LOSS OF PROFITS, REVENUES, TRADES OR DATA OR FOR ANY DAMAGE TO USER'S EQUIPMENT, OR FOR ANY INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR INCIDENTAL LOSS OR DAMAGE OF ANY NATURE ARISING FROM ANY CAUSE WHATSOEVER, EVEN IF NASDAQ AND/OR ITS PROVIDERS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. 

SOME STATES AND FOREIGN COUNTRIES DO NOT ALLOW US TO LIMIT OUR LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES. IN THOSE STATES OR FOREIGN COUNTRY, NASDAQ’S LIABILITY IS LIMITED TO THE EXTENT PERMITTED BY LAW.

14. Force Majeure. Notwithstanding any other term or condition of this Agreement, Nasdaq shall not be obligated to perform or observe their obligations undertaken in this Agreement if prevented or hindered from doing so by circumstances beyond its control.

15. Indemnification. User will indemnify and hold harmless Nasdaq and its employees, officers, directors, providers and other agents from any and all claims and losses imposed on, incurred by or asserted as a result of or related to: (a) any non-compliance by User with the terms and conditions hereof; or (b) any third-party actions related to User's receipt and use of the Services and content, whether authorized or unauthorized under the Agreement. Any cooperation by Nasdaq in such defense is without waiver of any attorney-client, work product, or other legal privileges.

16. Term and Termination. This Agreement may be terminated by User upon written notice to Nasdaq. Upon notice to User, Nasdaq may terminate this Agreement at any time for any reason including, but not limited to, User's breach of any term of this Agreement.

17. Reporting Copyright Infringement on the Services.

17.1 Overview

Nasdaq respects the intellectual property rights of others. If a copyright owner believes that their copyright-protected content appears and/or is otherwise made available on the Nasdaq Site without authorization, the copyright owner may, per the U.S. Digital Millennium Copyright Act (DMCA), initiate a "notice-and-takedown" procedure to have the content removed. 

The following is an overview of how the DMCA notice-and-takedown procedure operates:

  1. If a copyright owner believes that the Nasdaq Site includes infringing content, the copyright owner may send a corresponding Notification of Claimed Infringement to Nasdaq.
  2. Provided that the Notification of Claimed Infringement is effective, Nasdaq, Inc. will: (i) promptly remove the content; and (ii) promptly provide the Notification of Claimed Infringement to the content owner and notify the content owner that the content has been removed.
  3. If the content owner believes that the Notification of Claimed Infringement was wrongfully submitted (due to mistake or misidentification), the content owner may send a Counter-Notification to Nasdaq.
  4. If Nasdaq receives an effective Counter-Notification, then Nasdaq will send a Reinstatement Notification to the copyright owner. This Reinstatement Notification will indicate that the removed content will be reinstated in not less than ten (10) business days and no more than fourteen (14) business days, unless Nasdaq first receives notice from the copyright owner that a legal action has been initiated by the copyright owner in relation to the content.
  5. There are a number of items of information that a Notification of Claimed Infringement or a Counter-Notification must include in order to be effective; additionally, in order to be effective, the Notification of Claimed Infringement and Counter-Notification must be sent to a particular person designated for this purpose (Nasdaq Inc.'s "Designated Agent"). Information regarding the requirements for Notification of Claimed Infringement and Counter-Notification, as well as contact information for the Designated Agent, are provided below.

Under 17 U.S.C.§ 512(f), a Notification of Claimed Infringement or Counter-Notification that includes a knowing material misrepresentation may subject the submitter of such Notification of Counter-Notification to damages, including costs and attorney's fees.

17.2. Requirements for an Effective Notification of Claimed Infringement.

For your Notification of Claimed Infringement to be effective, it must include substantially the following items of information:

  1. A physical or electronic signature of a person authorized to act for and on behalf of the copyright owner;
  2. Identification of the copyrighted work(s) claimed to have been infringed;
  3. Identification of the content that is claimed to be infringing, and information reasonably sufficient to permit Nasdaq to locate the content (e.g., specific URLs where the content may be found);
  4. Information reasonably sufficient to permit Nasdaq to contact you, including an address, telephone number, and, if available, an electronic mail address;
  5. A statement that you have a good faith belief that use of the material in the manner complained of is not authorized by the copyright owner, its agent, or any law; and
  6. A statement that the information in the notification is accurate and, UNDER PENALTY OF PERJURY, that you are authorized to act on behalf of the owner of an exclusive right that is allegedly infringed.

17.3 Requirements for an Effective Counter-Notification

For your Counter-Notification to be effective, it must include substantially the following items of information:

  1. Your physical or electronic signature;
  2. Identification of the content and the location (e.g., URL) at which the content appeared before it was removed;
  3. A statement UNDER PENALTY OF PERJURY that you have a good faith belief that the content was removed as a result of mistake or misidentification;
  4. Your name, address, and telephone number; and
  5. A statement that you consent to the jurisdiction of Federal District Court for the judicial district of Manhattan, New York, NY, and that you will accept service of process from the person who provided the Notification of Claimed Infringement or an agent of such person.

17.4 Contact Information for Designated Agent

As noted above, a Notification of Claimed Infringement or must be sent to Nasdaq's Designated Agent to be effective. Nasdaq's Designated Agent can be reached as follows (email preferred):

  1. Via email at: dmca@nasdaq.com
  2. Via post at: 
    Office of General Counsel
    ATTN: IP Department - Copyright Agent
    Nasdaq, Inc.
    805 King Farm Blvd., 2nd Floor
    Rockville, MD 20850

 

17.5. Repeat Infringers.  Nasdaq will in appropriate circumstances terminate the accounts of repeat copyright infringers.

18. Notices. All notices and other communications required under this Agreement shall be in writing and shall be directed to: (a) Nadaq, Inc., Attn: Office of the General Counsel, 805 King Farm Boulevard, Rockville, MD 20850; or (b) to User at the address and addressed to the person that the Service password was sent. Notice shall be deemed to have been duly given upon actual receipt by a party, or upon constructive receipt if sent by certified mail, postage pre-paid, return receipt requested, at such address or any other address, as any party hereto shall hereafter specify by Notice to the other party hereto.

19. Arbitration. Any claim, dispute, controversy or other matter in question with regard to this Agreement shall be submitted to the American Arbitration Association ("AAA") and shall exclusively be subject to final binding arbitration in accordance with the Commercial Arbitration Rules and Regulations of the AAA.  Claims or Disputes must be filed within one year.  To the extent permitted by law, any claim or Dispute under this Agreement must be filed within one year in an arbitration proceeding or in court. The one-year period begins on the date when a Notice of Legal Dispute is filed with us.  You agree you are permanently barred to bring a claim for your Dispute if you do not file your claim within one year.

20. Headings. Section headings are included for convenience only and are not to be used to construe or interpret this Agreement.

21. Waiver and Severability. No failure on the part of any of Nasdaq or User to exercise, no delay in exercising, and no course of dealing with respect to any right, power, or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power, or privilege preclude any other or further exercise thereof or if the exercise of any person or circumstance, shall to any extent be held invalid or unenforceable, the remainder of this Agreement, or the application of such terms or provisions to persons or circumstances other than those as to which they are held invalid or unenforceable, shall not be affected thereby and each such term and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.

​​​​​​​22. Survival of Provisions. The terms of this Agreement apply to those obligations that survive any cancellation, termination, or rescission, namely, obligations relating to, Ownership, Limitation of Liability, Consequential Damages, Indemnification, Warranties, Non-Use of Corporate Names and Marks, Confidentiality and Restrictions on use of the Services and content. 

​​​​​​​23. Governing Law. This Agreement shall be deemed to have been made in the United States in the State of New York and shall be construed and enforced in accordance with, and the validity and performance hereof shall be governed by, the laws of the State of New York, without reference to principles of conflicts of laws thereof. PLEASE NOTE THAT BY AGREEING TO THESE TERMS OF SERVICE, YOU ARE:  (1) WAIVING CLAIMS THAT YOU MIGHT OTHERWISE HAVE AGAINST US BASED ON THE LAWS OF OTHER JURISDICTIONS, INCLUDING YOUR OWN; (2) IRREVOCABLY CONSENTING TO THE EXCLUSIVE JURISDICTION OF, AND VENUE IN, STATE OR FEDERAL COURTS IN THE STATE OF NEW YORK OVER ANY DISPUTES OR CLAIMS YOU HAVE WITH US; AND (3) SUBMITTING YOURSELF TO THE PERSONAL JURISDICTION OF COURTS LOCATED IN THE STATE OF NEW YORK FOR THE PURPOSE OF RESOLVING ANY SUCH DISPUTES OR CLAIMS

​​​​​​​24. Entire Agreement. This Agreement, constitutes the entire Agreement between the parties with respect to the subject matter hereof, and supersedes all prior negotiations, communications, writings, and understandings. Nasdaq may modify this Agreement from time to time. If you do not agree to the changes, stop using our Services (and remember to cancel any fee-based services) before the changes take effect. Your continued use of a Service after the effective date of any changes means that you agree to the changes If a court of law finds that any provision of this Agreement is invalid or unenforceable, the remaining provisions will continue to be valid and enforceable.

Additional Terms

FTSE International Limited

"FTSE®", "FT-SE®", "Footsie®", ["FTSE4Good®" and "techMARK"] are trademarks jointly owned by the London Stock Exchange Plc and The Financial Times Limited and are used by FTSE International Limited ("FTSE") under license. ["All-World®", "All-Share®" and "All-Small®" are trademarks of FTSE.]

The FTSE All World Index data ex-US (AW01UK), FTSE RAFI 1000 Index (FR10UK) and FTSE100 (UKX100) indices are calculated by FTSE. FTSE does not sponsor, endorse or promote this product and is not in any way connected to it and does not accept any liability in relation to its issue, operation and trading. FSTE data on Nasdaq.com is fifteen (15) minutes delayed.

Sections of the Nasdaq Site are powered by HyperFeed® market data. Data is delayed twenty (20) minutes unless otherwise noted, is believed accurate but is not warranted or guaranteed by HyperFeed Technologies, Inc. and is subject to HyperFeed Technologies, Inc. terms. All times are Eastern United States.

UK Modern Slavery Act Transparency Statements

Nasdaq’s UK Modern Slavery Act Transparency Statements can be found here.

UK Tax Strategy Statements

Nasdaq’s UK Tax Strategy Statements can be found here.

Updated July 18, 2019