OPRA Subscriber Agreement (Version v4)
Last updated: 2026-06-02 · Text version effective: 2026-07-27
OPRA SUBSCRIBER AGREEMENT (HEDG3 PAID PLANS)
1. Definitions
"OPRA" means the Options Price Reporting Authority.
"Non-Professional" means a natural person for whom every
attestation in Section 4 is true.
2. Grant of Access
Subject to your compliance with this Agreement, hedg3 grants
you a non-exclusive, non-transferable, revocable license to
access real-time OPRA market data through a paid hedg3 plan
for your personal investment decisions only.
3. Restrictions
You may not redistribute, republish, share, or commercially
exploit the data. You may not use the data for any business
purpose or on behalf of any entity.
4. Non-Professional Attestations
By accepting, you certify that each of the following is true:
(a) You are a natural person and will use the data solely for
personal, non-business investment purposes.
(b) You are not registered or qualified with the SEC, FINRA,
the NFA, the CFTC, any state securities agency, any
securities exchange or association, or any commodities or
futures contract market or association.
(c) You are not engaged as an investment advisor, as defined
in Section 202(a)(11) of the Investment Advisers Act of
1940, whether or not registered or qualified under that
Act.
(d) You are not employed by a bank or other organization that
is exempt from registration under federal or state
securities laws to perform functions that would require
you to be registered if you performed them for an
organization that is not so exempt.
(e) You do not use the capital of any other individual or
entity in your trading.
(f) You do not use the data in a business capacity, or to
manage the assets of your employer or any company.
(g) The name on this account is your own. You are not
accessing this data on behalf of, or in the name of, any
other person or entity.
(h) You do not monitor or trade securities or options on
behalf of any account other than your own.
If any attestation is not true for you, do not accept this
Agreement — contact support about Professional classification.
5. Access Location
You will tell us whether you access this data from your home
or from another location, and if another location, where it is
and in what capacity you are acting there. This is a question,
not a condition: accessing from somewhere other than your home
does not by itself disqualify you. Your answer forms part of
the subscriber record in Section 6 and is reviewed with it.
6. Subscriber Record and Verification
You agree to provide your name, address, employer, job
function, and access location, and to keep them current.
hedg3 maintains this record, together with a log of every
acceptance, renewal, and revocation, as required by OPRA
record-keeping rules. hedg3 verifies the information you
provide — including against public registration records such
as FINRA BrokerCheck — before granting real-time access. While
that verification is outstanding, or if it raises a question,
real-time options data is withheld and you receive delayed
data, clearly labelled, until the review is complete.
7. Termination and Revocation
hedg3 may suspend or revoke access at any time. You may revoke
this Agreement at any time from settings; real-time options
data ends immediately on revocation. Access ends automatically
upon cancellation of your paid subscription.
8. Renewal
This Agreement remains in effect for one year. Continued
access after one year requires re-attestation, at which point
you will be shown the subscriber record on file and asked to
confirm or correct it.Subscribers are prompted to attest to this agreement as a Non-Professional user before any real-time data is streamed to their session. Questions about this agreement: [email protected].