Fia Electronic Give-Up Agreement System User Agreement

The FIA Electronic Give-Up Agreement System User Agreement: What You Need to Know

If you are involved in trading or brokering in the futures markets, you may have heard of the FIA Electronic Give-Up Agreement System (EGUS). This system allows market participants to electronically submit and manage give-up agreements, which are agreements between parties in which one party agrees to transfer their rights or obligations to another party.

In order to use the EGUS, market participants must agree to the FIA Electronic Give-Up Agreement System User Agreement. Here are some important points to know about this agreement:

1. Purpose: The User Agreement outlines the terms and conditions under which market participants can access and use the EGUS. It also sets forth the obligations of the parties with respect to the use of the system.

2. Definitions: The Agreement includes definitions of key terms used within the document, such as “Authorized User,” “Give-Up Agreement,” and “User Data.”

3. Use of the EGUS: The User Agreement allows market participants to use the EGUS solely for the purpose of submitting and managing give-up agreements. It prohibits the use of the system for any other purpose or in any way that could damage or interfere with the proper functioning of the system.

4. Access and Security: The Agreement requires market participants to keep their login credentials confidential and to notify the FIA immediately if they suspect that there has been unauthorized access to their account. It also outlines the FIA`s rights to suspend or terminate access to the system in the event of a security breach or violation of the Agreement.

5. Intellectual Property: The User Agreement clarifies that the FIA retains all intellectual property rights in the EGUS and related technology. Market participants do not acquire any ownership rights in the system through their use of it.

6. Indemnification: The Agreement includes provisions for indemnification, limiting the FIA`s liability for damages arising from the use of the EGUS and requiring market participants to indemnify the FIA for any damages resulting from their use of the system.

7. Applicable Law and Jurisdiction: The User Agreement specifies that it is governed by the laws of the State of New York and that any disputes arising from the Agreement will be resolved in courts located in New York City.

Overall, the FIA Electronic Give-Up Agreement System User Agreement is a critical document for any market participant who wishes to use the EGUS. By understanding its terms and conditions, users can ensure that they are in compliance with the Agreement and can avoid any potential breaches or disputes.