General terms and conditions of business

Please read these terms and conditions carefully. By actively retrieving content from the website and its (sub)pages (hereinafter jointly referred to as “Website”) you declare your consent to these General Terms and Conditions of Business by conclusive behavior. Should you not consent to the following General Terms and Conditions of Business please refrain from accessing this Website.

1. General conditions of use for

Parts of this Website may be protected by copyright. Unless otherwise stated copyright, industrial property rights and other rights in all content on the Website (“Content”) are owned solely and fully by Boerse Stuttgart GmbH or Boerse Stuttgart GmbH owns the necessary rights of use.

The Content on this Website may only be used freely to view the Content with a standard browser (“Normal Retrieving”). You may not alter copy, publish, disseminate or save this Website including the source text and the underlying computer program (“Material”) other than in the course of Normal Retrieving. The Material may only be used for non-commercial, private purposes. Copyright must be strictly observed. Other than that, you may not reproduce Content in electronic, written or any other form or pass them on in data processing facilities, networks and to third parties without the prior written consent of Boerse Stuttgart GmbH. This also applies to parts of the Content.

Copying the Content or parts thereof into e-mail newsletters or other media for dissemination is strictly forbidden. You may not set up an Internet link (hyperlink) from another website to a page on this Website without the prior written consent of Boerse Stuttgart GmbH. In particular, this Website or parts thereof may not be incorporated in a framework structure (“Frames”) by a so called framing in such a way that Content of the Website and other content are displayed simultaneously.

Securities prices, or indications listed on the Website may not be accessed automatically without the interaction of a natural person in each individual case. Any violation of this provision automatically leads to the lapse of the respective user’s right to use the website with immediate effect. Within the context of a partial or complete termination Boerse Stuttgart GmbH reserves the right to restrict access to the Content of the Website or to withdraw the Website completely at any time and by observing a notice period of one week. Restriction or withdrawal may also occur without observing the notice period if Boerse Stuttgart GmbH is unable to observe the notice period for reasons for which it is not responsible.

2. Content of the Website and exclusion of liability

a. Boerse Stuttgart GmbH and its contractual partners make every effort with due care of a prudent businessman to ensure that the information on this Website is correct, complete and up-to-date. However, they do not assume warranty (Gewähr) for this.

b. The content and information which is displayed on this Website or which can be accessed via hyperlinks to external Internet areas are solely for information purposes. Boerse Stuttgart GmbH does not provide any financial service, especially no investment advice and investment brokering. The provision of information does not constitute an offer to buy or sell or an invitation to make such an offer to buy or sell or to subscribe for any financial instrument.
Boerse Stuttgart GmbH has no intention to enter into an agreement to provide consultancy or advice especially as it has no knowledge of whether and to what extent information contained on this Website or accessed in the manner mentioned above might be used by the individual user in any specific case as a basis for making a decision on significant asset disposals.

Boerse Stuttgart GmbH emphasizes that any stock exchange trading involves an element of risk. Total loss of capital invested cannot be ruled out. The user should therefore seek advice before making any investment decision, taking particularly into account his individual financial position and not base his investment decision on the Content of this Website which is only of a general nature. Such advice may be offered in particular by financial institutions but not by Boerse Stuttgart GmbH.

c. The issuer and product related information displayed on the Website reflect the obligation of Boerse Stuttgart GmbH to provide for information on financial instruments listed at Stuttgart Stock Exchange (Baden-Württembergische Wertpapierbörse). The publication is no advertisement or recommendation for a specific security listed at Stuttgart Stock Exchange. Any judgmental statement made in the documents provided on the Website represents the opinion of the author only and does not reflect the position of Boerse Stuttgart GmbH. All information displayed on the Website is meant only and solely for eligible counterparties within the meaning of the Securities Trading Act (WpHG).

d. Although Boerse Stuttgart GmbH apply great care in producing the Website errors cannot be ruled out completely. Statements contained on this Website or information which is made available in the manner set out above do not constitute any guarantee on the part of Boerse Stuttgart GmbH.

e. Other than in the event of willful intent and gross negligence or compulsory statutory liability for damages arising from injury to life, health or body or for a guarantee Boerse Stuttgart GmbH does not accept any liability for content and information published on this Website. Content or information may include e.g. mistakes or omissions, or may due to mistakes by third parties be inaccurate, incomplete or outdated. Boerse Stuttgart GmbH is especially not responsible for any information in a displayed securities prospectus or any further information provided by an issuer.
In addition to this no. 2 of these General Terms and Conditions of Business the provisions in no. 3 apply to the use of S&P bond ratings, the provisions in no. 4 apply for accessing real time price information and those in no. 5 for using news services.

3. Conditions for use of the S&P bond ratings

a. Neither Boerse Stuttgart GmbH as licensee nor Standard & Poor’s (S&P) or its affiliates as licensor or any other third-party licensor have any liability for the accuracy, availability and completeness of the licensed information / software which are identifiable on the Website as S&P information or S&P software (hereinafter jointly referred to as “S&P Information). In addition Boerse Stuttgart GmbH as licensee, S&P, its affiliates or any other third-party licensor are not liable for delays, interruptions or omissions in connection with S&P Information or for any resultant loss in profit, indirect, special or consequential damages;

b. Either Boerse Stuttgart GmbH as licensee, S&P, its affiliates or any other third-party licensor have exclusive proprietary rights in any S&P Information provided;

c. The S&P Information may neither be used or permitted to be used for any unlawful or unauthorized purpose nor may permission be granted to a third party for such purposes;

d. The S&P Information may not be furnished or permitted to be furnished to any person or firm for reuse or retransmission without prior written approval of the source of such S&P Information;

e. It is not permitted to produce a financial derivative based on the S&P Information;

f. Access to the S&P Information is subject to termination in the event that any license agreement between Boerse Stuttgart GmbH and a provider of the S&P Information is terminated in accordance with the terms of such license agreement. In this event Boerse Stuttgart GmbH is entitled to stop accessing S&P bond rating information on this Website with immediate effect.

Standard & Poor’s including its subsidiary corporations is a division of The McGraw-Hill Companies, Inc. Reproduction of S&P bond ratings (also named S&P Credit ratings) in any form is prohibited except with the prior written permission of S&P. Because of the possibility of human or mechanical error by S&P’s sources, S&P or others, S&P does not guarantee the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. S&P GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall S&P be liable for any indirect, special or consequential damages in connection with subscriber’s or others’ use of S&P Credit Ratings.

4. Conditions for accessing real-time price information

Users of this Website (“User”) may access real time price information for securities traded on the Stuttgart Stock Exchange. A real-time price is the price of a security for which the typical time between price determination and publication is less than 15 minutes. Real-time price information can only be accessed if the User is fully and truthfully registered using the form provided on the Website.

Real-time price information may only be accessed via the Website by private Users for private use only. It may not be accessed automatically without the interaction of a natural person in each individual case. A private User within the meaning of these conditions of use is someone who satisfies the following criteria:

a. the User is a natural person;

b. the User is not a credit institution, financial service institution or a financial enterprise within the meaning of § 1 Banking Act (Kreditwesengesetz);

c. the User is not subject to domestic or foreign regulatory supervision or restriction with regard to financial, banking, stock exchange or investment services;

d. when accessing real-time price information the User is not acting for a credit institution, a financial services institution or a financial enterprise within the meaning of § 1 Banking Act or a company which is subject to domestic or foreign regulatory supervision or restriction in relation to financial, banking, stock exchange or investment services;

e. the User uses the information solely for his personal use;

f. the User does not use the information for commercial purposes such as commercial securities trading or commercial management of assets of third parties;

g. the User does not use the information in any other manner for the purposes of third parties such as the management – free of charge – of third-party assets in the context of a non-commercial investment club;

h. the User does not pass the information on to third parties and does not make this information accessible to third parties. In the context of private use the User may not use real-time price information for commercial purposes, disclose it to third parties, publish or sell it. The User may refrain from accessing to real-time price information at any time and without prior notice.

5. Conditions for using the news services

Boerse Stuttgart GmbH provides for and offers to send regular information (market reports and newsletters) by e-mail. This news service may only be accessed upon full and truthful registration using the form provided on the Website.

Although Boerse Stuttgart GmbH compiles the information in the news service with due care it does not assume any warranty (Gewähr) that such information is accurate, complete and up-to-date. The recipient may terminate this news service at any time and without prior notice.

6. Links to other websites and external links

The Website contains links to external websites. Boerse Stuttgart GmbH is not responsible for the content of such external websites or for information displayed on them. Boerse Stuttgart GmbH has no influence on the design and content of external websites what so ever. Boerse Stuttgart GmbH therefore does not adopt or take on the content of the websites to which it provides links and is not responsible for the content of such websites.

7. Severability clause

If individual provisions of these General Terms and Conditions of Business should be or become invalid in whole or in part, this shall not affect the validity of the other provisions. The invalid provision shall be replaced by a valid provision which, as far as possible, shall reflect the meaning and purpose of the invalid provision. The same applies to any lacuna.

8. Trade mark rights

Most of the terms and terminology (Terms) used on the Website to describe securities or indices are protected under trade mark law. The rights in such Terms are held either by Boerse Stuttgart GmbH, by Baden-Württembergische Wertpapierbörse GmbH or by third parties. These Terms may only be used in a manner which complies with trade mark law.

9. Privacy policy

The protection of personal data is an important concern of Boerse Stuttgart GmbH. Thus the business processes of Boerse Stuttgart GmbH are according to the applicable provisions regarding data protection. Further details are provided for in the Data Protection Notices.

10. Applicable law, jurisdiction, authorative version

All legal relationships between Boerse Stuttgart GmbH and the user of the Website are subject solely to the law of the Federal Republic of Germany.

The exclusive place of jurisdiction for any disputes between Boerse Stuttgart GmbH and the user arising out of or in connection with the use of this Website shall be Stuttgart.

In addition to the German version of the General Terms and Conditions of Business an English translation exists. The German version is legally binding with exception to no. 3 of these General Terms and Conditions of Business; here the English version is binding.

11. Information about online dispute resolution

The European Commission has established an internet platform for online dispute resolution (so called “ODR platform”). The ODR platform is a point of entry for out-of-court resolutions relating to contractual obligations of online sales contracts. You can get to the ODR platform by following the link:

Information according to § 36 Verbraucherstreitbeilegungsgesetz (VSBG)

This applies to German users: Boerse Stuttgart GmbH will not participate in a dispute settlement procedure before a consumer arbitration board in terms of the VSBG and is not obliged to do so.

Version as of 20 February 2017