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].