Trading Venue User. Where the usage of the Licensed Data is aimed at feeding price-formation mechanisms for Trading Venues (covered in Special Case No. 5 of Annex 1 of this Agreement), the Unit of Count shall be deemed to be each user having access to the trading of financial instruments at the Trading Venue in which the Licensed Data is used by the price- formation mechanisms.
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Samples: www.bmemarketdata.es, www.bmemarketdata.es, www.bmemarketdata.es
Trading Venue User. Where the usage of the Licensed Data is aimed at feeding price-formation mechanisms for Trading Venues (covered in Special Case No. 5 of Annex 1 of this Agreement), the Unit of Count shall be deemed to be each user having access to the trading of financial instruments at the Trading Venue in which the Licensed Data is used by the price- price-formation mechanisms.
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Samples: www.bmemarketdata.es
