Common use of Derived Data Clause in Contracts

Derived Data. 3.3.1 Licence fees, as detailed in Schedule B of this Agreement, apply to all Customers using the Data to calculate indices for commercial distribution (whether distributed real time, delayed or end of day). All such indices created from the Data must also be made available by the Customer on a non-discriminatory basis and under reasonable commercial terms. 3.3.2 Customers may also choose to utilise real time Data to create other derived data values and/or benchmarks, often referred to as Original Works. No Data Charges are payable for the internal or external distribution of such Original Works provided they cannot be reverse engineered in any way back to the underlying Data, and/or effectively substituted for that Data. In the event that an Original Work can be reverse engineered, or used as a substitute, Data Charges as detailed in Schedule B will apply. If you require further clarification on a specific instance please contact the relevant Exchange before utilising the Data in this way.