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DTCC – Depository Trust Clearing Corporation

Effective 07-January-2020 entities redistributing Depository Trust & Clearing Corporation (DTCC) sourced Money Market data and/or Collateralized Mortgage Obligation data (“DTCC Data”), including Derived Data created therefrom, requires a redistribution license directly from DTCC.  Notwithstanding anything in Client’s existing agreement with Refinitive, as used herein, Derived Data shall mean “any data (wholly or in part) manipulated to such a degree that the result: (a) cannot be identified as originating or deriving directly from DTCC Data and cannot be reverse-engineered such that it can be so identified; and (b) is not capable of use that serves substantially as a substitute for DTCC Data or otherwise competes with DTCC’s distribution of the DTCC Data or any derivative thereof.

Irrespective of any redistribution rights granted in Client’s existing agreement with Refinitiv, any redistribution of the DTCC Data or Derived Data, requires a direct license agreement between the Client and DTCC, provided however, that Client, without such agreement may redistribute de minimis amounts of DTCC Data or Derived Data on an ad hoc basis in presentations, graphs, other publications, and in support of Client customer queries, to the extent that (i) any such incorporated DTCC Data or Derived Data is in a graphical format only for viewing and are not reproduced or republished in a format that would enable the Client’s customer to copy, download or incorporate the DTCC Data or Derived Data in a database of their own; (ii) such reports,  presentations, graphs and other publications are only of supportive nature to Client’s services; and (iii) no charge is made for or in relation to the DTCC Data, Derived Data or the reports. Client shall be responsible for all such redistribution. To inquire about or obtain the relevant license from DTCC, please contact DTCC Data Services at datareporting@dtcc.com.