Privacy Policy
Pershing Advisor Solutions LLC (PAS), in conjunction with its affiliates, has adopted and will abide by the privacy policy (Privacy Policy) as described below.
PAS recognizes the importance of protecting the confidentiality of nonpublic personal information that it collects about its customers and their clients (such customers and clients shall be collectively referred to as "customers" for the purpose of this Privacy Policy). The information is used to ensure accuracy in reporting and record keeping, to maintain its customers' accounts, and to carry out requested transactions. A top priority for PAS is keeping this information secure.
1. PAS collects nonpublic personal information from the following sources:
- Applications or other forms (such as name, address, social security number, assets, and income);
- Customers' transactions with PAS, their investment advisor, or others; and
- Consumer reporting agencies (such as credit worthiness and credit history).
2. Internal data security policies restrict access to nonpublic personal information to authorized employees. PAS directly or indirectly maintains physical, electronic, and procedural safeguards designed to comply with federal standards to guard nonpublic personal information. Employees who violate these policies are subject to disciplinary action, up to and including termination.
3. PAS may disclose nonpublic personal information about its customers to affiliates and to parties with which it has contractual agreements, such as banks, mortgage lenders, and securities broker-dealers, in order for such affiliates and other parties to be able to provide services, such as data processing and loan servicing.
4. PAS may disclose nonpublic personal information about its customers to nonaffiliated third parties with whom it has contracted to perform services on its behalf, such as, printing, mailing, fraud prevention, and data processing services. PAS may also disclose nonpublic personal information about its customers as permitted or required by law.
5. PAS may disclose nonpublic personal information to third parties with whom your investment advisor may be affiliated. PAS may also disclose your account information to third parties which your investment advisor may hire to provide certain services to assist in the management of your account. In light of the foregoing, should you determine that you do not wish your nonpublic personal information be disclosed to these third parties, please contact and direct your investment advisor immediately to instruct us accordingly.
6. PAS does not disclose nonpublic personal information about former customers, except as permitted or required by law.
7. PAS' Internet web site may occasionally use a cookie to provide better service, to facilitate its customers' use of the web site, to track usage of the web site, and to address security hazards. A cookie is a small piece of information that a web site stores on your personal computer and which it can later retrieve. PAS may use cookies for some administrative purposes, for example, to store its customers' preferences for certain kinds of information. None will contain information that will enable anyone to contact its customers via telephone, e-mail, or any other means. If PAS' customers are uncomfortable with the use of cookie technology, they can set their browsers to refuse cookies. Certain of PAS' services, however, could be dependent on cookies and its customers may disable those services by refusing cookies.
Order Routing Disclosures
Pershing Advisor Solutions is a registered broker-dealer and it sends orders on behalf of clients to Pershing for routing to various market centers for execution. You can view the top venues with which Pershing executes nondirected orders by selecting a market center link below.
Exchange Agreements
Non-Professional Definition
New York Stock Exchange & American Stock Exchange Non-Professional AgreementNew York Stock Exchange Professional Agreement
NASDAQ Stock Market Subscriber Agreement
Options Price Reporting Authority Agreement
Philadelphia Board of Trade Agreement
Please read the definition of a non-professional and select the appropriate button below.
Non-Professional Definition:
A non-professional refers to a natural person, who is applying/acting in a personal capacity, as neither a principal, officer, partner, employee, nor agent of any business, nor on behalf of any individual. A non-professional is a person who obtains information for their own investment purposes and not for any business purposes.
The person cannot be registered or qualified with*: The Securities Exchange Commission (SEC) in any capacity; The Commodities Futures Trading Commission; Any state securities agency; Any securities exchange or association; Any commodities or futures contract market or association.
* Or foreign organizational equivalents.
Furthermore, a non-professional person can be neither (a) an investment advisor (as that term is defined in Section 201(II) of the Investment Advisors Act of 1940, whether or not registered or qualified under that Act); (b) a person employed by a bank, or other organization exempt from registration under federal and/or state securities laws, to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt; or (c) a person engaged as a consultant, independent contractor, software developer, or other person that uses market information for any purpose for profit other than the trading of that person's own personal account(s).
If you are a non-professional as defined above, please answer "I am NOT a Professional". If you are not a non-professional as defined above, you should answer "I Am a Professional". Please note that if for any reason your status as a non-professional changes, you are required to notify us. You may access this agreement online and make changes to your responses at any time should your circumstances change.
Exchange Agreements
Non-Professional Definition
New York Stock Exchange & American Stock Exchange Non-Professional Agreement
New York Stock Exchange Professional AgreementNASDAQ Stock Market Subscriber Agreement
Options Price Reporting Authority Agreement
Philadelphia Board of Trade Agreement
New York Stock Exchange ("NYSE") and American Stock Exchange ("AMEX") Subscriber Agreement
AGREEMENT FOR MARKET DATA DISPLAY SERVICES
(Electronic Version)
Exchange Agreements
Non-Professional Definition
New York Stock Exchange & American Stock Exchange Non-Professional Agreement
New York Stock Exchange Professional Agreement
NASDAQ Stock Market Subscriber AgreementOptions Price Reporting Authority Agreement
Philadelphia Board of Trade Agreement
New York Stock Exchange ("NYSE") and American Stock Exchange ("AMEX") Subscriber Agreement
AGREEMENT FOR MARKET DATA DISPLAY SERVICES
(Electronic Version)
Exchange Agreements
Non-Professional Definition
New York Stock Exchange & American Stock Exchange Non-Professional Agreement
New York Stock Exchange Professional Agreement
NASDAQ Stock Market Subscriber Agreement
Options Price Reporting Authority AgreementPhiladelphia Board of Trade Agreement
Exchange Agreements
Non-Professional Definition
New York Stock Exchange & American Stock Exchange Non-Professional Agreement
New York Stock Exchange Professional Agreement
NASDAQ Stock Market Subscriber Agreement
Options Price Reporting Authority Agreement
Philadelphia Board of Trade AgreementELECTRONIC FORM OF SUBSCRIBER AGREEMENT
IMPORTANT NOTICE: THIS SUBSCRIBER AGREEMENT (THIS "AGREEMENT") IS AN AGREEMENT BETWEEN YOU AND PERSHING ADVISOR SOLUTIONS FOR YOU TO RECEIVE INFORMATION PUBLISHED BY THE OPTIONS PRICE REPORTING AUTHORITY ("OPRA"). PLEASE READ THIS AGREEMENT CAREFULLY. AFTER YOU HAVE READ THIS AGREEMENT, PLEASE INDICATE YOUR AGREEMENT TO BE BOUND BY ITS TERMS AND CONDITIONS BY CLICKING ON THE "I AGREE" BUTTON AT THE END. IF YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS, YOU WILL BE UNABLE TO RECEIVE THE INFORMATION.
By completing and submitting this Agreement, you are applying to receive from NetXInvestor ("Broker/Dealer") a market data service (the "Service") providing access to current options last sale and quotation information and related information ("Options Data") published by OPRA pursuant to a Plan declared effective by the Securities and Exchange Commission. In reviewing and approving this Agreement, Broker/Dealer is authorized to act on behalf of the "OPRA Participants", which are those national securities exchanges who, from time to time, are parties to this Plan. The person who acts from time to time as data processor on behalf of OPRA is referred to herein as "OPRA's Processor".
By completing and submitting this Agreement and clicking on the "I agree" button at the end of this Agreement, you are consenting to enter into this Agreement in electronic form. You have the right to withdraw your consent by terminating this Agreement and your receipt of the OPRA Data. Your right to terminate this Agreement and your receipt of the OPRA Data, and the procedure you must follow to do so, are described in paragraph 6 below. If any information needed to contact you electronically changes, the procedure for notifying Broker/Dealer is described in paragraph 11 below. If you wish to have a copy of this Agreement in paper form and you are unable to print a copy on your own computer system, Broker/Dealer will provide you with a paper copy at no charge upon its receipt of your request transmitted as described in paragraph 11. You may access a copy of this Agreement electronically at no charge, if your access to OPRA Data is from a device capable of receiving text, by following the steps below:
At the beginning of the exchange agreement process you were provided with a definition of the term "Nonprofessional". If you are a Nonprofessional under this definition, OPRA's charges to Broker/Dealer for your use of the OPRA Data may be subject to a cap, and you may be entitled to pay lower fees to Broker/Dealer.
You hereby represent and agree as follows:
1. Your full name and address are:
3. You acknowledge that OPRA Data is and shall remain the property of the OPRA Participant on which a reported transaction took place or a reported quotation was entered.
4. DISCLAIMER OF LIABILITY -- NEITHER BROKER/DEALER, OPRA, OPRA'S PROCESSOR NOR ANY OPRA PARTICIPANT GUARANTEES THE TIMELINESS, SEQUENCE, ACCURACY OR COMPLETENESS OF ANY OF THE OPRA DATA SUPPLIED TO YOU HEREUNDER AND NEITHER VENDOR, OPRA, OPRA'S PROCESSOR NOR ANY OPRA PARTICIPANT SHALL BE LIABLE IN ANY WAY, TO YOU OR TO ANY OTHER PERSON, FOR ANY LOSS, DAMAGES, COST OR EXPENSE WHICH MAY ARISE FROM ANY FAILURE OF PERFORMANCE BY VENDOR, OPRA, OPRA'S PROCESSOR OR ANY OPRA PARTICIPANT, OR FROM ANY DELAYS, INACCURACIES, ERRORS IN OR OMISSIONS OF, ANY OF THE OPRA DATA OR IN THE TRANSMISSION OR DELIVERY THEREOF, WHETHER OR NOT DUE TO ANY NEGLIGENT ACT OR OMISSION ON THE PART OF BROKER/DEALER, OPRA, OPRA'S PROCESSOR OR ANY OPRA PARTICIPANT. IN NO EVENT SHALL BROKER/DEALER, OPRA, OPRA'S PROCESSOR OR ANY PARTICIPANT BE LIABLE FOR ANY INCIDENTAL, SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO LOST PROFITS, TRADING LOSSES, OR DAMAGES RESULTING FROM INCONVENIENCE OR LOSS OF USE OF THE SERVICE.
5. The terms of this Agreement may be modified at any time upon notice to you. If you do not assent to this Agreement as modified at or prior to the time you next attempt to access the Service, this Agreement shall automatically be terminated. This Agreement as modified shall apply to your use of the Service from and after the date of the modification.
6. Your receipt of the OPRA Data hereunder may be terminated at any time by you or by Broker/Dealer upon 30 days notice from the terminating party to the other party, and may be terminated immediately upon a determination by Broker/Dealer or OPRA that you are not in compliance with this Agreement.
7. Nothing herein shall be deemed to prevent or restrict OPRA, OPRA's Processor or any OPRA Participant from discontinuing to furnish OPRA Data for dissemination or from making such changes in the speed of transmission, the characteristics of the electrical signals representing the OPRA Data or the manner of disseminating the same, as OPRA shall from time to time determine to be appropriate, with or without notice to you. You shall not hold OPRA, OPRA's Processor, or any OPRA Participant liable for any resulting liability, loss or damage that may arise therefrom.
8. You agree to notify Broker/Dealer promptly of any changes in the information provided herein and to furnish Broker/Dealer any additional information requested by it in connection with your receipt of the OPRA Data.
9. The parties acknowledge and agree that this Agreement is for the express benefit of OPRA, OPRA's Processor and each OPRA Participant.
10. The provisions of Sections 3, 4 and 9 will survive any termination of this Agreement and will remain in full force and effect.
11. All notices under this Agreement will be provided in writing. All written notices to Broker/Dealer shall be sent to your financial advisor, who is your Broker/Dealer and all such notices to you shall be sent to the street address that you provide in paragraph 1.
IF YOU AGREE TO THE TERMS AND CONDITIONS SET FORTH ABOVE, PLEASE CLICK ON THE "I AGREE" BUTTON BELOW. By clicking on the "I AGREE" button below and typing in your name as indicated above, you agree that:
-
i) you have read and you understand all of the terms and conditions set forth above; and
ii) you intend to form a legally binding and valid contract under which you will be bound by all of the terms and conditions set forth above.
Exchange Agreements
Non-Professional Definition
New York Stock Exchange & American Stock Exchange Non-Professional Agreement
New York Stock Exchange Professional Agreement
NASDAQ Stock Market Subscriber Agreement
Options Price Reporting Authority Agreement
Philadelphia Board of Trade Agreement
ELECTRONIC FORM OF SUBSCRIBER AGREEMENT
IMPORTANT NOTICE: THIS SUBSCRIBER AGREEMENT (THIS "AGREEMENT") IS AN AGREEMENT BETWEEN YOU, AND PERSHING LLC ("THE PARTIES") FOR YOU TO RECEIVE INFORMATION PUBLISHED BY THE PHILADELPHIA BOARD OF TRADE. PLEASE READ THIS AGREEMENT CAREFULLY. AFTER YOU HAVE READ THIS AGREEMENT, PLEASE INDICATE YOUR AGREEMENT TO BE BOUND BY ITS TERMS AND CONDITIONS BY CLICKING ON THE "I AGREE" BUTTON AT THE END. IF YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS, YOU WILL BE UNABLE TO RECEIVE THE INFORMATION.
By completing and submitting this Agreement, you are applying to receive from Pershing LLC ("Pershing") a market data service (the "Service") providing access to Philadelphia Stock Exchange Proprietary Sector Index Spot and Settlement Values ("Index Data") published by the Philadelphia Board of Trade. In reviewing and approving this Agreement, Pershing is authorized to act on behalf of the "PBOT"
By completing and submitting this Agreement and clicking on the "I agree" button at the end of this Agreement, you are consenting to enter into this Agreement in electronic form. You have the right to withdraw your consent by terminating this Agreement and your receipt of the PBOT data. Your right to terminate this Agreement and your receipt of the PBOT Data, and the procedure you must follow to do so, are described in paragraph 5 below. If any information needed to contact you electronically changes, the procedure for notifying Pershing is described in paragraph 8 below. If you wish to have a copy of this Agreement in paper form and you are unable to print a copy on your own computer system, Pershing will provide you with a paper copy at no charge upon its receipt of your request transmitted as described in paragraph 8. You may access a copy of this Agreement electronically at no charge, if your access to PBOT Data is from a device capable of receiving text, by following the steps below:
1. You hereby represent and agree as follows:
Your full name and address are:
2. LICENSE
PERSHING LLC ("Pershing") has obtained the right to receive and retransmit Market Data of the Philadelphia Board of Trade, Inc. ("PBOT") as Market Data may be added or deleted from time to time by PBOT. The Parties agree that the term "Designated Market Data" shall be synonymous with "Market Data," as that term is defined in the PBOT Market Data Subvendor Agreement and includes, but is not limited to, bids, asks, and market prices of futures or options, opening and closing range prices, high-low prices, settlement prices, estimated and actual contract volume, and information regarding market activity. Pershing hereby grants Subscriber a non-exclusive and non-transferable License to receive Designated Market Data. Pershing shall furnish the Designated Market Data to Subscriber via the Internet or Pershing's private network. Subscriber agrees and acknowledges that PBOT reserves the right to disapprove any Subscriber and retains the right to direct Pershing to terminate any Subscriber's receipt of Market Data for any reason or no reason, in which event the PBOT shall so notify Pershing and Pershing shall cease providing Market Data to that Subscriber as soon as practicable. Subscriber represents and warrants that he or she is a non-professional, making this agreement in his or her own individual capacity and not on behalf of a firm, corporation, partnership, trust, or association, and that the receipt of the Designated Market Data shall be via the internet. The Parties acknowledge and agree that the Designated Market Data are and do constitute valuable confidential information, copyrighted materials and proprietary rights of PBOT, not within the public domain, and that, but for this Agreement, Subscriber would have no access or rights with respect thereto.
3. SUBSCRIBER'S RESTRICTIONS AND OBLIGATIONS
Subscriber agrees that the Designated Market Data are solely for Subscriber's private and individual receipt and use. In addition, Subscriber may, occasionally furnish a de minimis number of segments of Designated Market Data. Such redissemination must be strictly limited to telephonic communications not entailing the use of computerized voice synthesization or any other technology and must be strictly related to the trading activity of Subscriber or any such recipients. Any such recipients must be advised by Subscriber that such segments are proprietary and confidential information not to be disclosed or disseminated to other persons or entities. Subscriber agrees to ensure that such recipients abide by the provisions of this Agreement. Subscriber shall not, except as provided in Paragraph 2, redistribute, sell, license, retransmit or otherwise provide Market Data in any format by electronic or other means, including but not limited to the Internet, any Intranet or other networks except with the express written authorization of PBOT. Subscriber shall not reproduce, misappropriate, market or store the Designated Market Data in a retrieval system. Subscriber shall not use the Designated Market Data in any way so as to assist or allow a third party to compete with PBOT or Pershing. Subscriber shall safeguard the confidentiality of the Designated Market Data, and shall not communicate or otherwise furnish, or permit to be communicated or otherwise furnished, said Designated Market Data, in any format, to any news distributing company, or to any other location than that above designated, or allow any person, firm or corporation whatsoever to take, directly or indirectly, any of said Designated Market Data, from said offices or locations, and Subscriber will comply with any requirement respecting the location in its place of business of its blackboards, tickers, telephones and instrumentalities, and will adopt and enforce, with respect to persons entering its place of business, any regulation which PBOT or Subvendor may deem it advisable to prescribe in order to prevent the Designated Market Data from being improperly taken from Subscriber's place of business. Subscriber further agrees to protect the confidentiality of the Designated Market Data through the use of passwords, account numbers, access numbers, and any other security measures Pershing or PBOT shall require to prevent unlicensed or unauthorized parties from gaining access to the Designated Market Data, and Subscriber agrees that the passwords, account numbers, access numbers, and the other security measures are non-transferable. Subscriber shall not use, or allow any other person to use, the Designated Market Data for any illegal purpose or otherwise engage in, permit, or in any way assist in or promote the illegal use of the Designated Market Data. Subscriber shall promptly notify Pershing and PBOT if it knows of or learns of any person or persons having unauthorized or unlawful access to the Designated Market Data. Upon request, Subscriber agrees to provide to Pershing the information or reports requested by Pershing that is related to Subscriber's receipt of the Designated Market Data. Where Subscriber is a business, Subscriber agrees that during regular business hours and upon reasonable oral or written notice and to ensure compliance with this Agreement, any person or persons designated by PBOT or Pershing shall have access to the Subscriber's offices or places and shall have the right to observe the use made of the Designated Market Data and to examine and inspect any device, attachment, or apparatus within such office or place, as well as any books and records required to be maintained by Subscriber in connection with its receipt and use of Market Data.
4. PAYMENT
Not Applicable.
5. TERMINATION
Subscriber agrees that Pershing may, with or without notice, terminate the license of the Designated Market Data granted hereunder (and the furnishing of Designated Market Data) at any time for any reason whatsoever, including, but not limited to, whenever directed to do so by PBOT, or whenever in Pershing's judgment there shall have been any breach by Subscriber of the provisions of this Agreement.
6. DISCLAIMER OF WARRANTIES AND LIABILITY: INDEMNITY
SUBSCRIBER AGREES THAT NEITHER PBOT NOR PERSHING, OR THEIR RESPECTIVE MEMBERS, SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS, GUARANTEE THE TIMELINESS, SEQUENCE, ACCURACY OR COMPLETENESS OF THE DESIGNATED MARKET DATA, MARKET INFORMATION OR OTHER INFORMATION FURNISHED OR THAT THE DESIGNATED MARKET DATA HAVE BEEN VERIFIED. SUBSCRIBER AGREES THAT THE DESIGNATED MARKET DATA AND OTHER INFORMATION PROVIDED HEREUNDER IS FOR INFORMATION PURPOSES ONLY AND IS NOT INTENDED AS AN OFFER OF SOLICITATION WITH RESPECT TO THE PURCHASE OR SALE OF ANY SECURITY OR COMMODITY AND THAT THE DESIGNATED MARKET DATA AND OTHER INFORMATION SHOULD NOT SERVE AS THE BASIS FOR ANY INVESTMENT DECISION. SUBSCRIBER AGREES THAT NEITHER PBOT NOR PERSHING, OR THEIR RESPECTIVE MEMBERS, SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS, SHALL BE LIABLE TO SUBSCRIBER OR TO ANY OTHER PERSON, FIRM OR CORPORATION WHATSOEVER FOR ANY LOSSES, DAMAGES, CLAIMS, PENALTIES, COSTS OR EXPENSES (INCLUDING LOST PROFITS) ARISING OUT OF OR RELATING TO THE DESIGNATED MARKET DATA IN ANY WAY, INCLUDING BUT NOT LIMITED TO ANY DELAY, INACCURACIES, ERRORS OR OMISSIONS IN THE DESIGNATED MARKET DATA OR IN THE TRANSMISSION THEREOF OR FOR NONPERFORMANCE, DISCONTINUANCE, TERMINATION OR INTERRUPTION OF SERVICE OR FOR ANY DAMAGES ARISING THEREFROM OR OCCASIONED THEREBY, DUE TO ANY CAUSE WHATSOEVER, WHETHER OR NOT RESULTING FROM NEGLIGENCE ON THEIR PART. IF THE FOREGOING DISCLAIMER AND WAIVER OF LIABILITY SHOULD BE DEEMED INVALID OR INEFFECTIVE, NEITHER PBOT NOR PERSHING, NOR THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS SHALL BE LIABLE IN ANY EVENT, INCLUDING THEIR OWN NEGLIGENCE, BEYOND THE ACTUAL AMOUNT OF LOSS OR DAMAGE, OR THE AMOUNT OF THE MONTHLY FEE PAID BY SUBSCRIBER TO VENDOR OR SUBVENDOR, WHICHEVER IS LESS. SUBSCRIBER AGREES THAT NEITHER THE MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS, SHALL BE LIABLE TO SUBSCRIBER OR TO ANY OTHER PERSON, FIRM OR CORPORATION WHATSOEVER FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES, INCLUDING WITHOUT LIMITATION, LOST PROFITS, COSTS OF DELAY, OR COSTS OF LOST OR DAMAGED DATA EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
- Indemnity. Subscriber shall indemnify and hold (and at PBOT's and Pershing's option, defend) PBOT and Pershing and their members, shareholders, directors, officers, employees and agents harmless and shall pay all losses, damages, expenses and costs (including reasonable attorneys' fees) incurred by them based upon any claim or action: (a) arising from Subscriber's breach of its obligations, representations, warranties or covenants hereunder; (b) relating to any delay, inaccuracies, errors, or omissions in the Designated Market Data or (c) any use of the Market Data. PBOT and Pershing shall have the right (but not the obligation) to participate in any defense or settlement, in which event each Party shall pay for its respective attorneys' fees.
7. GENERAL
This Agreement between Pershing and Subscriber embodies the entire agreement between the Parties with respect to the subject matter hereof. The failure or inability of Pershing to verify or check any information or activity required by Pershing, or the failure or inability of Pershing to perform any activity relating to the verification or checking of any information supplied by Subscriber or any activity relating to the verification or checking of any information supplied by Subscriber or any activity of Subscriber will not be deemed to constitute a waiver of any right on the part of Pershing or PBOT to enforce the provisions of this Agreement. No waiver, alteration, or modification of any of the provisions, except as provided in Paragraphs 2 through 4 shall be binding unless in writing and signed by a duly authorized representative of each Party and PBOT. Neither the course of conduct between the Parties nor trade usage shall act to modify or alter the provisions of this Agreement. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, U.S.A., to the exclusion of the Courts of any other state or country , without regard to its conflict of law principles. Subscriber agrees that all disputes and matters whatsoever arising under, in connection with, or incident to this Agreement shall be litigated, if at all, in and before a Court located in the Commonwealth of Pennsylvania, U.S.A, to the exclusion of the Courts of any other state or country. Subscriber acknowledges that its breach of this Agreement would cause immediate and irreparable harm to Pershing and PBOT for which money damages would be inadequate. Pershing and PBOT shall have the right to enforce their rights against the Subscriber under this Agreement, not only by an action for damages, but also by an action for injunctive or other equitable relief in order to enforce this Agreement, without proof of actual damages or the posting of a bond or other security. Subscriber acknowledges that PBOT is an intended third-party beneficiary of the rights of Pershing under the Agreement. The illegality or unenforceability of any part of this Agreement shall not affect the remainder of this Agreement. If any part of this Agreement is found to be illegal or unenforceable, this Agreement shall be given the meaning as would give effect to the intent of the Parties.
8. All written notices to Pershing shall be sent to Pershing LLC, Attention Market Data Management Services, One Pershing Plaza, Jersey City, NJ 07399.
IF YOU AGREE TO THE TERMS AND CONDITIONS SET FORTH ABOVE, PLEASE CLICK ON THE "I AGREE" BUTTON BELOW. By clicking on the "I AGREE" button below and typing in your name as indicated above, you agree that:-
i) you have read and you understand all of the terms and conditions set forth above; and
ii) you intend to form a legally binding and valid contract under which you will be bound by all of the terms and conditions set forth above.
Copyright/Terms of Use
© 2012
Pershing LLC. All Rights Reserved. Notices
Interactive Data Corporation Terms & Conditions of Use
Dow Jones Indexes Terms of Use
© 2012 Pershing LLC. All Rights Reserved. Notices
Except with respect to information about your financial organization and unless otherwise specified, the content of this service is owned or licensed by Pershing LLC and is protected by the United States Copyright Act of 1976, as amended, and the copyright laws of other countries. Certain materials are used by permission of their respective owners. Certain specified content is the property of your financial organization.
Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organizations and independent registered investment advisors who collectively represent over five million active investors. Financial organizations, investment professionals and independent registered investment advisors depend on Pershing's depth of experience and consultative approach to provide them with forward-thinking solutions that help them to grow their businesses. Located in 19 offices worldwide, Pershing is committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a subsidiary of The Bank of New York Mellon Corporation. Additional information is available at www.pershing.com.
The material provided in this service, including graphic images, buttons, and text, may not be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, without the prior written permission of Pershing LLC, except that you may download, display, or print one copy of the materials on any single computer solely for your personal, non-commercial, home use, provided that you keep intact all copyright, trademark, and other proprietary notices. Modification of the materials or use of the materials for any other purpose is a violation of Pershing LLC's or its third-party information providers' copyrights and other proprietary rights. Nothing contained herein shall be construed as conferring by implication, estoppel, or otherwise, any license or right under any copyright, patent, trademark, or other proprietary interest of Pershing LLC or any third party. Pershing LLC acts solely as clearing agent for your financial organization. Pershing LLC is not an affiliate nor does it exercise supervisory authority over your financial organization or its employees.
PERSHING LLC, YOUR FINANCIAL ORGANIZATION AND OTHER PROVIDERS OF MATERIALS ON THIS SITE DISCLAIM ANY WARRANTY OF ANY KIND, WHETHER EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER RELATING TO THIS SERVICE, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NONINFRINGEMENT. REFERENCE TO A FUND OR SECURITY INCLUDED ANYWHERE IN THIS SERVICE IS NOT A RECOMMENDATION TO BUY, SELL, OR HOLD THAT, OR ANY OTHER SECURITY.
No judgment or warranty is made with respect to the accuracy, timeliness, or suitability of the content of other services or sites to which these screens link, and neither Pershing LLC nor your financial organization take any responsibility therefore. A link from this service to another service or site outside of your financial organization is not an endorsement of the service or site, its content, or its sponsoring organization.
By using this service, you accept at your own risk that the Internet and online communications medium may not perform as intended despite the efforts of Pershing LLC, your Internet service provider and you.
If you have questions about these Notices contact Pershing LLC at:
brokerage.info@pershing.com
.
© 2012 Pershing LLC.
Interactive Data Corporation Terms & Conditions of UseAll information provided by Interactive Data Real Time Services ("Real-Time Services") and its affiliates (the "Real-Time Services Information") is owned by or licensed to Real-Time Services and its affiliates and any user is permitted to use such Real-Time Services Information only for such user's personal use. In no event shall any user publish, retransmit, redistribute or otherwise reproduce any Real-Time Services Information in any format to anyone, and no user shall use any Real-Time Services Information in or in connection with any business or commercial enterprise, including, without limitation, any securities, investment, accounting, banking, legal or media business or enterprise.
Prior to the execution of a security trade based upon the Real-Time Services Information, you are advised to consult with your broker or other financial representative to verify pricing information.
THE REAL-TIME SERVICES INFORMATION IS PROVIDED TO THE USERS "AS IS." NEITHER REAL-TIME SERVICES NOR ITS AFFILIATES NOR ANY THIRD_PARTY DATA PROVIDER MAKE ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND REGARDING THE REAL-TIME SERVICES INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. NEITHER REAL-TIME SERVICES NOR ITS AFFILIATES NOR ANY THIRD_PARTY DATA PROVIDER WILL BE LIABLE TO ANY USER OR ANYONE ELSE FOR ANY INTERRUPTION, INACCURACY, ERROR OR OMISSION, REGARDLESS OF CAUSE, IN THE REAL-TIME SERVICES INFORMATION OR FOR ANY DAMAGES (WHETHER DIRECT OR INDIRECT, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY) RESULTING THEREFROM.
Dow Jones Indexes Terms of Use
Pershing LLC, at our discretion, provide you with services including, but not restricted to, news and information services. You agree to comply with the conditions imposed on your use of the services, as set out in these Terms and Conditions of Access and elsewhere in our services. These services may be outside our control or provided by a third party in which in case we cannot take responsibility for their content, or for any delays, interruptions or errors in the provisions of these additional services, provided we have exercised reasonable care and diligence in the selection of such providers.
Certain data accessible on our services is the intellectual property of the relevant news and information services provider or third parties that provide such data to the relevant service provider, or us. The data is protected by copyright and other intellectual laws and all ownership rights remain with the information service provider or the third party or us, as the case may be.
You may only use the data retrieved from our services for your own personal and non-commercial purposes while accessing our services. Such use will be in accordance with these Terms and Conditions of Access and the requirements set out elsewhere on our services. You may not copy, distribute or redistribute the data, including by caching, framing or similar means or sell, resell, re-transmit or otherwise make the data retrieved from our services available in any manner to any third party. You may not store the data for the purposes of creating a historical database or historical data product. You may not use any of the data in connection with the issuance, trading, marketing or promotion of investment products (e.g., derivatives, structured products, investment funds, investment portfolios, etc. where the price, return and/or performance of the investment product is based on or related to the data) without a separate written agreement with us, the information service provider or third party, as the case may be, that has ownership rights to the data (e.g. Dow Jones & Company, Inc., S&P, etc.).
The data is provided "as is." We, any information service provider or any third party shall not be liable to you or any third party for any loss or damage, direct, indirect or consequential, arising from (i) any inaccuracy or incompleteness in, or delays, interruptions, errors or omissions in the delivery of the data or any other information supplied to you through our services or (ii) any decision made or action taken by you or any third party in reliance upon the data. Nor shall we, any information service provider or any third party be liable for loss of business revenues, lost profits or any punitive, indirect, consequential, special or similar damages whatsoever, whether in contract, tort or otherwise, even if advised of the possibility of such damages incurred by you or any third party.
Where the information consists of pricing or performance data, the data contained therein has been obtained from sources believed reliable. Data computations are not guaranteed by any information service provider, third party or us or any affiliates and may not be complete. Neither we, any information service provider, nor any third party give any warranties, as to the accuracy, adequacy, quality or fitness, timeless, non-infringement, title, of any information for a particular purpose or use and all such warranties are expressly excluded to the fullest extent that such warranties may be excluded by law. You bear all risk from any use or results of using any information. You are responsible for validating the integrity of any information received over the Internet.
Transmission may be subject to arbitrary delays beyond our control, which may delay the provision of our services and the execution of your orders. You acknowledge that neither we, any information service provider, nor any third party will be liable to you or any third party for any losses arising from such delay.
In no event will we, any information provider, or third party be liable for any consequential loss including but not limited to special, incidental, direct or indirect damages resulting from delay or loss of use of our services. We are not responsible for any damage to your computer, software, modem, telephone or other property resulting from your use of our services.
Payment for Order Flow Practices
PAS has entered into a Clearing Agreement with Pershing pursuant to applicable regulations including NYSE Rule 382. Under the terms of the Clearing Agreement, Pershing provides certain services to PAS including trade execution, clearance, and custodial services. Equity orders placed with PAS that are routed to Pershing may be sent to exchanges, Electronic Communication Networks, or other broker-dealers during normal business hours and during extended trading sessions. Certain of these venues provide payments or charge access fees to Pershing depending upon the characteristics of the order and any subsequent execution.
In addition, Pershing may execute as a principal certain equity orders received from or through PAS. The details of these payments and fees are available upon written request. Pershing receives payments for directing listed options order flow to certain option exchanges. Compensation is generally in the form of a per option contract cash payment. This disclosure only applies to orders placed with PAS that are routed to Pershing.
PAS does not receive payment for order flow.
Best Execution
Notwithstanding the previous paragraph regarding payment for order flow, Pershing selects certain market centers to provide execution of over-the-counter and exchange-listed securities transactions which agree to accept orders, transmitted electronically up to a specified size, and to execute them at or better than the National Best Bid or Offer (NBBO). On certain larger orders, or if the designated market centers do not make a market in the subject security, Pershing directly contacts market centers to obtain an execution. The designated market centers to which orders are automatically routed are selected based on the consistent high quality of their executions in one or more market segments and their ability to provide opportunities for executions at prices superior to the NBBO.
If an order for an exchange-listed security is not immediately executable in the marketplace to which it is routed, such order may be represented in the national marketplace using the various means available for price discovery. Pershing also regularly reviews reports for quality of execution purposes.
PAS, directly and through third-party market data providers, regularly reviews and monitors transactions executed by Pershing to determine whether clients have received best execution.
Site Security
This site provides its members with private, secure communications. Your confidential account information is secured (encrypted) with the latest Netscape Secure Commerce Server technology, the best in the industry. Additionally, you are required to access your account using one of the latest secure browsers such as Netscape Navigator (version 7.0 or higher) or Microsoft's Internet Explorer (version 5.0 or higher).
Servers use advanced technology to ensure your account's confidentiality and security, to make it easier for you to navigate through this site, and to enable you to create customized information on the site based on input you decide, including watch lists and quote tracks.
Margin
The Margin Disclosure Statement is intended to provide some basic facts about purchasing securities on margin and to alert you to the risks involved with trading securities in a margin account. Before trading stocks in a margin account, it is important to carefully review the Margin Account Agreement provided by Pershing LLC ("Pershing"), and to consult with your Investment Advisor regarding any questions or concerns you may have regarding margin accounts.
When you purchase securities, you have the option of paying for them in full or borrowing part of the purchase price from Pershing. If you choose to borrow funds from Pershing, you will need to open a margin account with Pershing. The securities purchased are used as collateral for the loan that was made to you or any other indebtedness arising after the initial transaction. If the securities in your brokerage account decline in value, so does the value of the collateral supporting your loan. As a result, Pershing can take action. For instance, Pershing can issue a margin call and/or sell securities or liquidate other assets in any of your brokerage accounts held with Pershing, in order to maintain the required equity in the margin account.
It is important that you fully understand the risks involved in trading securities on margin. These risks include the following:
You can lose more funds or securities than you deposit in the margin account.
A decline in value of securities that are purchased on margin may require you to provide additional funds to Pershing to avoid the forced sale of those securities or other securities or assets in your account(s).
Pershing can force the sale of securities or other assets in your account(s).
If the equity in your account falls below Pershing's maintenance margin requirements, Pershing can sell the securities or other assets in any of your accounts held at Pershing to cover the margin deficiency. You also will be responsible for any short fall in the account after such a sale.
Pershing can sell your securities or other assets without contacting you.
Some investors mistakenly believe that a financial organization must contact them for a margin call to be valid, and that the financial organization cannot liquidate securities or other assets in their accounts to meet the call unless the financial organization has contacted them first. This is not the case. Most financial organizations will attempt to notify their clients of margin calls, but they are not required to do so. However, even if a financial organization has contacted a client and provided a specific date by which the client can meet a margin call, the financial organization can still take necessary steps to protect its financial interests, including immediately selling the securities without notice to the client.
Pershing may change margin requirements or margin call time periods without notice to you.
In regard to house, maintenance, and other margin calls, in lieu of immediate liquidations, Pershing may permit you a period of time to satisfy a call. This time period shall not in any way waive or diminish Pershing's right in its sole discretion, to shorten the time period in which you may satisfy a call, including one already outstanding, or to demand that a call be satisfied immediately. Nor does such practice waive or diminish the right of Pershing to sell out positions to satisfy the call, which can be as high as the full indebtedness owed by you. Margin requirements may be established and changed by Pershing in its sole discretion and judgment.
You are not entitled to choose which securities or other assets in your brokerage account(s) are liquidated or sold to meet a margin call.
Because the securities are collateral for the margin loan, Pershing has the right to decide which security to sell in order to protect its interests. Pershing can increase its "house" maintenance margin requirements at any time and is not required to provide you with advance written notice. These changes in firm policy often take effect immediately and may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause Pershing to liquidate or sell securities in your brokerage account(s).
While an extension of time to meet margin requirements may be available to clients under certain conditions, a client does not have a right to the extension.
Your written Margin Agreement with Pershing provides for certain important obligations by you.
The Margin Agreement is a legally binding agreement, cannot be modified by conduct, and no failure on the part of Pershing at any time to enforce its rights under the Margin Agreement to the greatest extent permitted shall in any way be deemed to waive, modify, or relax any of the rights granted Pershing, including those rights vested in Pershing to deal with collateral on all loans advanced to you.
Mutual Fund Disclosure
MUTUAL FUND BREAKPOINT DISCOUNTS AND OTHER DISCLOSURES RELATING TO MUTUAL FUND, MONEY FUND, FDIC-INSURED BANK DEPOSITS AND ANNUITY FEES AND REVENUE SHARING
Before investing in mutual funds, it is important that you understand the sales charges, expenses, and management fees that you will be charged as well as the breakpoint discounts to which you may be entitled. Understanding these charges and breakpoint discounts will assist you in identifying the best investment for your particular needs and may help you to reduce the cost of your investment. This section will give you general background information about these charges and discounts; however, sales charges, expenses, management fees, and breakpoint discounts vary from mutual fund to mutual fund.
Therefore, where applicable, you should discuss these matters with your IA and SAM(s) and review each mutual fund's prospectus and statement of additional information (available from your IA and SAM(s)) to obtain the specific information regarding the charges and breakpoint discounts associated with a particular mutual fund.
Sales Charges
Investors who purchase mutual funds must make certain choices, including which funds to purchase and which share class is most advantageous in light of their specific investing needs. Each mutual fund has a specified investment strategy. These decisions will be made by you, and/or your IA and SAM(s), subject to your agreements with them. You and they should consider whether the mutual fund's investment strategy is compatible with your investment objectives. Additionally, many mutual funds offer different share classes. Although each share class represents a similar interest in the mutual fund's portfolio, the mutual fund will charge you different fees and expenses depending upon your choice of share class.
As a general rule, Class A shares carry a "front-end" sales charge or "load" that is deducted from your investment at the time you buy the fund shares. This sales charge is a percentage of your total purchase. As explained below, many mutual funds offer volume discounts, known as "breakpoint discounts," to the front-end sales charge assessed on Class A shares at certain predetermined levels of investment.
In contrast, Class B and C shares usually do not carry any front-end sales charges. Instead, investors who purchase Class B or C shares pay asset-based sales charges, which may be higher or lower than the charges associated with Class A shares. Investors that purchase Class B or C shares may also be required to pay a sales charge known as a contingent deferred sales charge when they sell their shares, depending upon the rules of the particular mutual fund. This is known as a "back-end" sales charge or the "load."
Breakpoint Discounts
Most mutual funds offer investors a variety of ways to qualify for breakpoint discounts on the sales charge associated with the purchase of Class A shares. In general, most mutual funds provide breakpoint discounts to investors who make large purchases at one time. The extent of the discount depends upon the size of the purchase. Generally, as the amount of the purchase increases, the percentage used to determine the sales load decreases. The entire sales charge may be waived for investors that make very large purchases of Class A shares. Mutual fund prospectuses contain tables that illustrate the available breakpoint discounts and the investment levels at which breakpoint discounts apply.
Additionally, most mutual funds allow investors to qualify for breakpoint discounts based upon current holdings from prior purchases through Rights of Accumulation (ROA) and from future purchases based upon Letters of Intent (LOI). Mutual funds have different rules regarding the availability of ROAs and LOIs. Therefore, where applicable, you should discuss these matters with your IA and SAM(s), and review the mutual fund's prospectus and statement of additional information to determine the specific terms upon which a mutual fund offers ROAs or LOIs.
Rights of Accumulation
Many mutual funds allow investors to count the value of previous purchases of the same fund, or another fund within the same fund family, with the value of the current purchase to qualify for breakpoint discounts. Moreover, mutual funds may allow investors to count existing holdings in multiple accounts, such as individual retirement accounts (IRAs) or accounts at other financial organizations, to qualify for breakpoint discounts. Therefore, if you have accounts at other financial organizations and wish to take advantage of the balances in these accounts to qualify for a breakpoint discount, you must advise your IA about those balances. You may need to provide documentation if you wish to rely upon balances in accounts at another firm.
In addition, many mutual funds allow investors to count the value of holdings in accounts of certain related parties, such as spouses or children, to qualify for breakpoint discounts. Each mutual fund has different rules that govern when relatives may rely upon each other's holdings to qualify for breakpoint discounts. Where applicable, you should consult with your IA and SAM(s) and review the mutual fund's prospectus and statement of additional information to determine what these rules are for the fund family in which you are investing. If you wish to rely upon the holdings of related parties to qualify for a breakpoint discount, you should advise your IA and SAM(s) about these accounts. You may need to provide documentation to your IA and SAM(s) if you wish to rely upon balances in accounts at another firm.
Mutual funds also follow different rules to determine the value of existing holdings. Some funds use the current net asset value (NAV) of existing investments to establish whether an investor qualifies for a breakpoint discount. However, a small number of funds use the historical cost, which is the initial purchase cost, to determine eligibility for breakpoint discounts. If the mutual fund uses historical costs, you may need to provide account records, such as confirmation statements or monthly statements, to qualify for a breakpoint discount based upon previous purchases. You should consult with your IA and SAM(s) and review the mutual fund's prospectus and statement of additional information to determine whether the mutual fund uses NAV or historical costs to establish breakpoint eligibility.
Letters of Intent
Most mutual funds allow investors to qualify for breakpoint discounts by signing a LOI, which commits the investor to purchase a specified amount of Class A shares within a defined period of time, usually 13 months. For instance, if an investor plans to purchase $50,000 worth of Class A shares over a period of 13 months, but each individual purchase would not qualify for a breakpoint discount, the investor could sign a LOI at the time of the first purchase and receive the breakpoint discount associated with a $50,000 investment on the first and all subsequent purchases.
Additionally, some funds offer retroactive LOIs that allow investors to rely upon recent purchases to qualify for a breakpoint discount. However, if an investor fails to invest the amount required by the LOI, the fund is entitled to retroactively deduct the correct sales charges based upon the amount that the investor actually invested. If you intend to make several purchases within a 13-month period, you should consult your IA and applicable SAM(s) and the mutual fund prospectus to determine if it would be beneficial for you to sign a LOI. As you can see, understanding the availability of breakpoint discounts is important because it may allow you to purchase Class A shares at a lower price.
The availability of breakpoint discounts may save you money and may also affect your decision regarding the appropriate share class in which to invest. Therefore, where applicable, you should discuss the availability of breakpoint discounts with your IA and SAM and carefully review the mutual fund prospectus and its statement of additional information when choosing among the share classes offered by a mutual fund. If you wish to learn more about mutual fund share classes or mutual fund breakpoints, you can also review the investor alerts available on FINRA® web site at www.finra.org/alert_mfclasses.htm and www.finra.org/alert_breakpoints.htm.
Mutual Fund Fees and Revenue Sharing
Pershing may receive servicing fees from mutual funds that participate in Pershing's mutual fund no-transaction-fee program (FundVest®) in lieu of clearance charges to PAS. Participation by PAS in this program is optional and PAS may share with Pershing in such fees. These fees may be considered revenue sharing and are a significant source of revenue for Pershing and may be a significant source of revenue for PAS. These fees are paid in accordance with an asset-based formula.
Pershing also receives operational reimbursements from mutual funds in the form of networking or omnibus processing fees. These fees are based on a flat fee per holding and are reimbursed to Pershing for the work it performs on behalf of the funds, which may include but is not limited to: subaccounting services, dividend calculation and posting, accounting, reconciliation, client confirmation and statement preparation and mailing, and tax statement preparation and mailing.
These fees are a significant source of revenue for Pershing. For additional details regarding Pershing's mutual fund no-transaction-fee program or a listing of funds that pay Pershing networking or omnibus fees, please refer to www.pershing.com/mutualfunds.htm.
Money Fund and FDIC-Insured Bank Deposit Fees and Revenue Sharing
Money fund processing and revenue sharing fees are significant sources of revenue for Pershing and may be significant sources of revenue for PAS. Pershing receives fees from money fund providers for making available money market funds or FDIC-insured bank deposit programs, which you have selected through your IA. These fees are paid in accordance with an asset-based formula. PAS may share in these fees. A portion of Pershing's fees is applied against costs associated with providing services on behalf of the funds, which may include: cash sweep systems, subaccounting services, dividend calculation and posting, accounting, reconciliation, client statement preparation and mailing, tax statement preparation and mailing, marketing and distribution related support, and other services.
Pershing receives processing fees from certain money fund providers. These fees reimburse Pershing for operational services it performs on behalf of the funds, which may include: cash sweep systems, subaccounting services, dividend calculation and posting, accounting, reconciliation, client statement preparation and mailing, tax statement preparation and mailing, or other services.
For a listing of money funds that pay Pershing revenue sharing and processing fees, please refer to www.pershing.com/money_funds.htm.
Annuity Fees and Revenue Sharing
Pershing may receive servicing fees from certain insurance companies that participate in Pershing's annuity program (participation by PAS in this program is optional). These fees may be considered revenue sharing and are a source of revenue for Pershing.
Pershing also receives operational reimbursement fees from certain insurance companies. A flat fee per holding is paid to Pershing for the services it provides, which may include, but are not limited to posting, account reconciliation, and client statement preparation and mailing. These fees are a source of revenue for Pershing. For additional details regarding Pershing's annuity program and a listing of participating annuities that pay Pershing revenue sharing and processing fees, please refer to www.pershing.com/annuities.htm.
Email Encryption
Protect Yourself from Email Scams (e.g. Phishing)
You may have experienced or read about recent incidents of unsolicited email messages masquerading as legitimate companies, attempting to solicit recipients into divulging personal and financial information. These "phishing" (also called "brand spoofing") emails may send you to web sites pretending to be legitimate companies or government agencies that ask for your personal and financial information. At no time do we request personal or financial information by sending out unsolicited emails. As a good practice, we advise our clients to NOT send personal identification numbers, account passwords or any other confidential information by email, since email should not be considered a secure method of communication.
How The Scams Work
A common email scam uses unsolicited email to deceive consumers into disclosing confidential personal information. The deceptive email may suggest clicking on a link or attachment for any one of the following reasons:
- Change / update to personal information
- Contests
- Possible suspension of client cards or accounts
- Possible loss of deposit insurance
- Application for products
- Bank Card Numbers/User ID's
- Account Numbers
- Personal Identification Numbers (PINs)
- Credit Card Numbers
- Social Security Numbers
- Passwords
- Other Personal or Private Information
There are some commonalities that can help you identify the scams:
- They are designed to mimic the look and feel of a genuine site.
- They are most commonly sent out through unsolicited emails, containing links or attachments.
- The Web address will often have the "@" symbol or a numeric address (eg.123.456.1.2).
- The address may also include the word, phrase or text 'netxinvestor' to make it appear authentic.
It is important to understand that there are ways in which you can help protect yourself from email fraud and web sites that request your personal or banking information:
- If you receive an email that appears to have been sent from Pershing Advisor Solutions asking for personal or financial information, do not reply or click on the link in the email. The most prudent course of action would be to delete this type of email. If you have any questions, please feel free to contact customer service.
- Always access the NetExchange Investor web site using your bookmarks or our published URLs.
- Review your financial statements regularly for unauthorized or suspicious transactions.
- Never send personal and/or financial information via unsecured email.
- Do not trust email headers. They can be easily forged.
Business Continuity
DISCLOSURE REQUIRED BY NEW YORK STOCK EXCHANGE RULE 446(D) AND NASD RULE 3510
Business Continuity
PAS maintains a business continuity plan that covers all aspects of the resumption of business processes for each department, consistent with rules NYSE Rule 446 and NASD Rule 3510. These plans are updated whenever there is a material change to the business. Additionally, PAS' policy requires formal semi-annual reviews, including business risk assessments of the business continuity plan. Changes to PAS' processes, products, or business environment are evaluated, and required modifications to the configuration of the recovery sites (described below) are performed. Current copies of the PAS business continuity plan are maintained in several off-site locations.
PAS also maintains an alternate business resumption site for personnel. This facility provides for the relocation of PAS associates to resume processing operations and trading functions. Each operations or trading workstation used in business continuity is equipped with all the software, as well as all the telecommunication equipment, needed for the associate to continue in their role. A centralized fax and wire printer room, where all communications to PAS are controlled, is also maintained.
Business continuity partitions on the hard drives of the recovery workstations are used in business continuity to separate client server, market data, and desktop applications from the day-to-day uses of the machine.
PAS also employs telephone rollover technology whereby the local telephone company is able to route inbound calls and faxes to the facilities outside of Jersey City, New Jersey.
In the event your IA and/or SAM experiences a significant business interruption, PAS may be contacted directly by you to process limited trade-related transactions, cash disbursements, and security transfers. Such instructions to PAS must be in writing and transmitted via facsimile or postal service as follows:
-
Pershing Advisor Solutions LLC
P.O. Box 2065
Jersey City, New Jersey 07303-2065
Fax: (201) 413-4444
PAS can be contacted at (877) 870-7230 for additional instructions or inquiries.
In addition to the business continuity plans at PAS, Pershing maintains an extensive plan which is outlined below.
Pershing maintains a business continuity plan, including redundant data centers and alternate processing facilities, to address interruptions to its normal course of business. These plans are reviewed annually and updated as necessary.
The plans outline the actions Pershing will take in the event of a building, city-wide, or regional incident, including relocating technology and operational personnel to preassigned alternate regional facilities. Technology data processing can also be switched to an alternate regional data center. All Pershing operational facilities are equipped for resumption of business and are tested several times per year. Pershing's recovery time objective for business resumption, including those involving a relocation of personnel or technology, is four (4) hours. This recovery objective may be negatively affected by the unavailability of external resources and circumstances beyond our control.
In the event that PAS experiences a significant business interruption, you, your IA, or SAM may contact Pershing directly to process limited trade-related transactions, cash disbursements, and security transfers. Instructions to Pershing must be in writing and transmitted via facsimile at (201) 413-5368 or by postal service as follows:
-
Pershing LLC
P.O. Box 2065
Jersey City, New Jersey 07303-2065
For additional information about how to request funds and securities when PAS, and your IA, cannot be contacted due to a significant business interruption, please visit the About Pershing section of the Pershing web site at www.pershing.com or call (201) 413-3635 for recorded instructions. If you cannot access the instructions from the web site or the previously noted telephone number, Pershing may be contacted at (213) 624-6100, ext. 500, as an alternate telephone number for recorded instructions.
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