FIX Trading Community
(a brand of FIX Protocol Ltd)
Membership Terms & Conditions
Rules and policies
- The Company agrees:
- to be bound by the Articles of Association;
- to comply with all relevant FIX Trading Community policies from time to time, current versions of which can be found at the Member Resources section of the FIX website, under ‘Policies & Procedures’; and
- in particular (but without limitation), where it is in discussions or communications with any organisation (including but not limited to the media, regulators and other industry bodies) while acting as a representative of FIX Trading Community, it will abide by the FIX Trading Community Communication policy.
- The Company’s membership will continue for an initial period of one year and, unless terminated in accordance with these terms or the Articles of Association, will automatically renew every 12 months for a further year.
- If the Company does not wish to renew its membership it will give notice to FIX Trading Community by email to email@example.com.
- If such notice is not given 60 days before the renewal date, the Company will be required to pay the full membership fee for the relevant year. If such notice is given 60 days before the renewal date, the Company’s membership will terminate on the renewal date and the Company will be required to pay the difference between any member and non-member rates for any event attendance or sponsorship taken between the renewal date and the date notice is given.
- FIX Trading Community has the right to suspend membership benefits if payment of membership fees has not been received within 90 days of the renewal invoice being issued.
- There will be no refund of fees on termination of membership.
- Membership fees are subject to incremental annual increases, based on US inflation indexing.
Termination by FIX Trading Community
- FIX Trading Community may terminate the Company’s membership immediately by notifying the Company in writing if:
- the Company acts in a way that adversely affects the reputation of FIX Trading Community or FIX Protocol Ltd or otherwise brings FIX Trading Community or FIX Protocol Ltd into disrepute; or
- the Company fails to comply with clause 1 above.
- By becoming a member of FIX Trading Community, the Company and its employees, agents, contractors and sub-contractors may generate intellectual property rights in work and materials created or modified (in whole or in part) in the course of the Company’s participation in FIX Trading Community committee meetings, working groups, conferences and other FIX Trading Community sponsored functions (“FIX Trading IP”). In consideration of the services to be provided by FIX Trading Community:
- the Company will ensure that any individuals who may have statutory moral rights in such work or materials waive such rights irrevocably; and
- the Company hereby assigns to FIX Protocol Ltd with full title guarantee all future FIX Trading IP. For the avoidance of doubt, this assignment does not include assignment of any intellectual property rights belonging to the Company, its employees, agents, contractors or sub-contractors that exists as at the date of the Company’s submission of this Membership Application Form.
- The Company agrees promptly to execute all documents and do all acts as may, in the reasonable opinion of FIX Protocol Ltd (and at FIX Protocol Ltd’s cost), be necessary to give effect to clause 9, including after cessation of membership for any reason.
- All FIX Trading IP, unless otherwise expressly noted, is licensed by FIX Protocol Ltd to Company under a Creative Commons Attribution – No Derivatives 4.0 International Public License. The Company agrees to comply with all license requirements, such as those related to attribution and derivative works. The full terms of the license are available at: https://creativecommons.org/licenses/by-nd/4.0/legalcode.
- Certain FIX Trading IP, including but not limited to inventions, processes, methods, techniques, technical specifications and standards, software, firmware, APIs, databases, as well as know-how and improvements related thereto, may be subject to patent rights. The Company hereby assigns to FIX Protocol Ltd., and its affiliates, with full title guarantee all future claims in any patent or patent application created from FIX Trading IP (the “FIX Patents”) FIX Protocol Ltd. hereby grants to you under reasonable and non-discriminatory (“RAND”) terms a royalty and fee free, revocable (as specified in clause 12.c below), non-exclusive, worldwide, non-transferable, perpetual patent license to make, use, import, create derivative works from, and otherwise directly or indirectly distribute any FIX Patents for commercial or non-commercial purposes. Patents related to the process of producing FIX standards and recommended practices are governed by the Standardization Intellectual Property Policy.
- Release. By acceptance of this royalty-free patent license to the FIX Patents, Member, on behalf of itself, its predecessors, successors, affiliates, assigns, and transferees, hereby: (i) accepts and assumes all risks and liabilities with respect to, and ii) forever agrees to release, discharge, indemnify, hold harmless, and defend FIX Protocol Ltd, together with its predecessors, successors, affiliates, assigns, and transferees, from all liabilities of any nature whatsoever, known or unknown, which Member has, or may have had, against to FIX Protocol Ltd, for any acts or omissions whatsoever related to this patent grant, the FIX Patents, and any products, methods, and processes described in or related to the FIX Patents.
- Covenant Not to Sue. By acceptance of this royalty-free patent license to the FIX Patents, Member, on behalf of itself, its predecessors, successors, affiliates, assigns, and transferees, hereby irrevocably covenants that neither it nor any of its related entities granting a release under subparagraph 12.a above will participate or cooperate in the commencement, maintenance, or prosecution of any action or proceeding of any kind or nature whatsoever against to FIX Protocol Ltd, together with its predecessors, successors, affiliates, assigns, and transferees, related to this patent grant, the FIX Patents, and any products, methods, and processes described in or related to the FIX Patents
- Revocability. FIX Protocol Ltd reserves the right to revoke any patent license in a FIX Patent in the event that the FIX Patent is being misused to create competing specifications or protocols or is being used to the detriment of the FIX Trading Community and the adopters of the FIX Standards.