Non-Display Information Usage
Accessing, processing or consumption of the information for a purpose other than in support of its display or distribution
Non-Display Information Usage is defined as all accessing, processing or consumption of LuxSE data, whether or not connected with any other use of data, for a purpose other than in support of its display or distribution, including, without limitation, for the following purpose of usage:
- Automated trading applications: use LuxSE Data for the purpose of generating quotations or executing transactions automatically without displaying such data in any form. They include applications for algorithmic trading, programme trading and the automated monitoring of trading activities.
- New original created work applications: any work/product that is created partly or entirely based on LuxSE data but does not neither display the data nor allow deducing the data by any means nor can it be used as a substitute for the data. Only the use of LuxSE Data for generating the new original created work applications constitutes Non-Display Information Usage: e.g. indices, quotes, volume, weighted average prices, portfolio evaluation services and analytic reference figures.
- Reference Price Based Systems: multilateral reference price based systems using LuxSE Data in order to derive or calculate a reference price for trading and for trade execution. In general, reference price based systems do not display the underlying data.
- Index Calculations: applications using LuxSE data for the purpose of calculating indices.
Other Applications: use of LuxSE data in applications covering one or more of the following business activities:
- risk management
- quantitative analyses
- fund administration
- portfolio management
- instrument pricing
- compliance, account or audit activities, etc.