The Fine Print

Business Continuity Plan

Bruce Markets LLC
Business Continuity and Disaster Recovery Plan

EXTERNAL VERSION
Last Updated: 3/12/2025

Download Business Continuity Plan

Cookie Policy

LAST UPDATED: December 19, 2024

About this Cookie Policy

This Cookie Policy explains what cookies are and how we use them, the types of cookies we use (i.e., the information we collect using cookies and how that information is used), and how to control the cookie preferences. For further information on how we use, store, and keep your personal data secure, see our Privacy Policy.

You can at any time change or withdraw your consent from the Cookie Declaration on our website. Learn more about who we are, how you can contact us, and how we process personal data in our Privacy Policy.

Your consent applies to the following domain(s): www.brucemarkets.com.

What are cookies?

Cookies are small text files that are used to store small pieces of information. They are stored on your device when the website is loaded on your browser. These cookies help us make the website function properly, make it more secure, provide better user experience, understand how the website performs, and to analyze what works and where it needs improvement.

How do we use cookies?

Like most online services, our website uses first- and third-party cookies for several purposes. First-party cookies are mostly necessary for the website to function the right way, and they do not collect any of your personally identifiable data.

The third-party cookies used on our website are mainly to help us understand how our website performs; see how you interact with our website; keep our services secure; provide advertisements that are relevant to you; and offer a better and improved user experience, including help speeding up your future interactions with our website.

What types of cookies do we use?

Essential: Some cookies are essential for you to be able to experience the full functionality of our site. They allow us to maintain user sessions and prevent any security threats. They do not collect or store any personal information. For example, these cookies allow you to log in to your account, add products to your basket, and check out securely.

Statistics: These cookies store information like the number of visitors to the website, the number of unique visitors, which pages of the website have been visited, the source of the visit, etc. These data help us understand and analyze how well the website performs and where it needs improvement.

Marketing: Our website displays advertisements. These cookies are used to personalize the advertisements that we show to you so that they are meaningful to you. These cookies also help us keep track of the efficiency of these ad campaigns. The information stored in these cookies may also be used by the third-party ad providers to show you ads on other websites on the browser as well.

Functional: These are the cookies that help certain non-essential functionalities on our website. These functionalities include embedding content like videos or sharing content of the website on social media platforms.

Preferences: These cookies help us store your settings and browsing preferences like language preferences so that you have a better and efficient experience on future visits to the website.

How can I control the cookie preferences?

Should you decide to change your preferences later through your browsing session, you can click on the “Manage your consent” link found on this page. This will display the consent notice again, enabling you to change your preferences or withdraw your consent entirely.

Manage your consent

In addition to the “Manage your consent” link, different browsers provide different methods to block and delete cookies used by websites. You can change the settings of your browser to block/delete the cookies. To find out more about how to manage and delete cookies, visit wikipedia.org, www.allaboutcookies.org.

Clearly Erroneous Trade Policy for Transactions on the Bruce ATS

Effective January 1, 2025

Bruce Markets LLC (“Bruce Markets”) offers trading in U.S. equity securities through its Bruce ATS platform (“Bruce ATS”) in which Bruce Markets is interposed as the trading counterparty on a matched basis between the two relevant participants or subscribers (referred to hereafter as “Subscribers”) who have agreed to the parameters of the transaction. In order for Bruce Markets to provide a level of protection for Subscribers, maintain a fair and orderly market and enable Bruce Markets to manage the risks attendant in acting as a counterparty on the Bruce ATS (“Bruce ATS”) , Bruce Markets will use this Clearly Erroneous Trade Policy (“Policy”) to address trade errors and disputes involving or arising from transacting on Bruce ATS. Bruce Markets only acts as counterparty in order to facilitate Subscriber trading on a matched basis and Bruce Markets makes Bruce ATS available solely on the condition that each Subscriber has agreed to abide by Bruce Markets’ determinations under this Policy.

BY TRANSACTING THROUGH BRUCE ATS, EACH BRUCE ATS SUBSCRIBER THROUGH BRUCE MARKETS AGREES TO BE BOUND BY, AND COMPLY WITH, THIS POLICY. IF YOU DO NOT AGREE TO BE BOUND BY, AND COMPLY WITH, THIS POLICY, DO NOT SUBSCRIBE TO OR SEND ORDERS TO BRUCE ATS. THIS POLICY IS SUPPLEMENTAL TO, AND DOES NOT SUPERCEDE, THE APPLICABLE SUBSCRIBER AGREEMENT WITH Bruce MARKETS.

Policy and Definitions

If Bruce Markets determines, in its sole discretion, that a Bruce ATS transaction is a Clearly Erroneous Trade (as defined below) or is impacted by a Bruce ATS Disruption or Malfunction (as defined below), Bruce Markets may either (i) cancel the trade or (ii) modify the terms of the trade, provided that any such modification shall be subject to consent by the Subscribers that are parties to the applicable Bruce ATS transaction and, if such agreement is not reached, Bruce Markets may cancel the trade.

A “Clearly Erroneous Trade” is defined as a trade that Bruce Markets determines, in its sole discretion:

• (i) to have been executed at a price that is clearly inconsistent with the current or expected market for that security at the time of execution;1
• (ii) to have been executed on any term (e.g., identification of the security, side, size) that is inconsistent with prevailing market practice or that Bruce Markets believes would have reasonably appeared to the contra-Subscriber to have been entered or calculated in error under the given circumstance;
• (iii) has been rejected by the relevant clearinghouse or Bruce Markets’ designated third-party clearing firm or is otherwise incapable of normal settlement and clearing by the relevant clearinghouse, Bruce Markets or Bruce Markets’ designated third-party clearing firm (e.g., for reasons, including but not limited to below minimum size, and/or that the instrument or the counterparty is subject to government sanctions), including the leg involving the contra-Subscriber; or
• (iv) would be detrimental to market integrity or inconsistent with just and equitable principles of trade.

A “Bruce ATS Disruption or Malfunction” is defined as:

• (i) any disruption, malfunction or technical failure in the Bruce ATS, including any electronic communications, which Bruce Markets determines, in its sole discretion, results in the Bruce ATS, or any part of the Bruce ATS, not operating as intended by Bruce Markets or a trading instruction being incorrectly processed by the Bruce ATS;
• (ii) the incorporation into, or use by, the Bruce ATS of any incorrect calculation, reference price reference data that Bruce Markets determines, in its sole discretion, to be incorrect, stale or otherwise erroneous; or
• (iii) in relation to any automated trading protocols, the failure, as determined by Bruce Markets in its sole discretion, of the Bruce ATS to correctly apply the trading criteria, defaults or settings entered by the Subscriber.

Bid-Ask Tolerance Rance:

Bruce ATS incorporates price controls designed to prevent the entry or maintenance of orders that are outside of Bruce Markets’ preset bid-ask tolerance range. Accordingly, any trades executed through Bruce ATS will be presumed to be at a pricing level that is consistent with the current or expected market for that security at the time of execution. Trades executed through Bruce ATS will only be found to be Clearly Erroneous pursuant to clause (i) of the definition of a “Clearly Erroneous Trade” in the event that Bruce Markets determines, in its sole discretion, that one of the following circumstances occurred and, as a result, the trade was executed at a pricing level that was clearly inconsistent with the current or expected market for that security at the time of execution:

• The live markets bid-ask tolerance range was either not available for the instrument at issue, failed to update in the normal course or was otherwise erroneously calculated; or
• Material news impacting the pricing level of the instrument had been released within 15 minutes prior to the time of execution and the Live Markets bid-ask tolerance range did not update to reflect the post-news tolerance range, if different than the pre-news tolerance range.

In order to request a trade review of a Bruce ATS trade on the basis that it was clearly erroneous, a Subscriber must follow the procedures set forth in Section 6 (Request for Review) within thirty (30) minutes of the execution of the trade.

Corporate Actions

Bruce Markets may deactivate a security from Bruce ATS that is the subject of a corporate action (e.g., tender or exchange offer, stock split, dividend) until the action is complete or the details of the corporate action have been broadly disseminated. Subscribers should be aware that, in the event that Bruce Markets does not deactivate the security prior to the execution of a trade, Bruce Markets may cancel the trade if Bruce Markets determines, in its sole discretion, that (i) such trade is a Clearly Erroneous Trade (as defined above), (ii) the pendency of the corporate action creates any risk of loss to Bruce Markets or (iii) the Subscriber that is the buyer in the transaction would be negatively impacted by the timing of the corporate action in relation to the time of execution of the trade (e.g., reverse stock split). If a Subscriber’s failure to settle a trade in a timely manner in relation to a security that is subject to a corporate action negatively impacts the contra-Subscriber’s ability to participate in the corporate action, such failing Subscriber shall be liable for any losses, costs or expenses that Bruce Markets or the contra-Subscriber incurs as a result of such Subscriber’s settlement failure.

Catastrophic Errors

In the event of a Catastrophic Error, Bruce Markets shall have the right to (i) initiate a review of any Bruce ATS transaction regardless of whether a party to the transaction has timely requested a review and (ii) determine that all Bruce ATS transactions impacted by the Catastrophic Error, as determined by Bruce Markets in its sole discretion, shall be canceled in accordance with Section 8 (Determinations). A “Catastrophic Error” will be deemed to have occurred when (i) the transactions of 4 or more Subscribers or 10 or more transactions are impacted by a Bruce ATS Disruption or Malfunction, even if such trades are not otherwise Clearly Erroneous Trades or (ii) the actions of a single Subscriber causes, or is involved in, 10 or more Clearly Erroneous Trades in a single day.

Request for Review

Review of any trade may be initiated by a Subscriber that is a party to the applicable Bruce ATS transaction pursuant to Section 7 (Review Process) below or by Bruce Markets. Bruce Markets reserves the right to initiate a review of a trade prior to trade settlement, regardless of whether a party to the trade has requested a review, if Bruce Markets determines, in its sole discretion, that circumstances warrant such a review.

In all circumstances, the trade will remain an obligation of the Subscribers that are the parties to the Bruce ATS transaction and subject to any agreements between Bruce Markets and such Subscribers until Bruce Markets notifies such Subscribers by e-mail that the trade has been adjusted or canceled pursuant to this Policy.

Review Process

To request a trade review, a Subscriber that is a party to the applicable Open Trading transaction must notify Bruce Markets via email to support@brucemarkets.com within (i) thirty (30) minutes of the execution of the Bruce ATS trade. Review requests must include the following information:

• Trade ID(s)
• Issuer Name and CUSIP/ISIN
• Quantity of security
• Price(s)
• Side (bought or sold)
• Factual basis for believing that the execution is either a Clearly Erroneous Trade or the result of a Bruce ATS Disruption or Malfunction

In determining whether a trade is either a Clearly Erroneous Trade or impacted by a Bruce ATS Disruption or Malfunction, Bruce Markets will utilize any information, and consult with any relevant parties, that in its sole discretion it deems adequate or appropriate, including, without limitation:

• Trades on the Bruce ATS or publicly reported trades which occurred prior to and following the alleged error trade;
• Indicative pricing available on the Bruce ATS or sourced from third- parties;
• Outgoing calls to independent third-party Subscribers on the Bruce ATS to determine the expected level for the security traded at the time in question;
• Bruce Markets’ in-house market knowledge and expertise;
• Whether the Subscriber requesting the review is the liquidity provider or the liquidity taker;
• Whether any material news had been disseminated by or about the particular security or the issuer of the security prior to the time of execution, as well as the timing of such news dissemination; and
• The promptness of the trade review request.

Any electronic or other communications involving the terms of a trade will also be a significant consideration in determining whether such trade is considered a Clearly Erroneous Trade or impacted by a Bruce ATS Disruption or Malfunction.

Determinations

Each trade review request will be considered on a case-by-case basis by an authorized principal of Bruce Markets. In the event that a party properly requests a trade review or if Bruce Markets initiates a trade review, Bruce Markets will promptly notify the trading desk or trade support operations of the other party to the trade by phone or electronic communication. Bruce Markets will use its commercially reasonable efforts to resolve any trade review within four business hours of the time that the trade review is commenced. Bruce Markets will notify the involved parties of any final determination by electronic communication. All decisions by Bruce Markets pursuant to this Policy are final and not subject to further review or appeal. The party requesting a trade review may withdraw its request via email to support@brucemarkets.com at any time prior to the time Bruce Markets notifies the parties to the transaction of its final determination.

Upon the communication by Bruce Markets of any final determination of a trade review, each Subscriber shall promptly implement the determination. If the final determination by Bruce Markets is that a Bruce ATS transaction shall be canceled, Bruce Markets and each affected Subscriber shall cancel all trade legs associated with the Bruce ATS transaction at issue (including any back-to-back transactions) and amend any previously submitted transaction reports, as applicable, in accordance with market convention (unless both Subscribers have agreed to modify the terms of the trade in accordance with Section 1 (Policy and Definitions) of this Policy). If the final determination by Bruce Markets is that a Bruce ATS transaction shall stand, the relevant Subscribers shall take such steps as may be necessary to settle such transaction in accordance with market convention.

In no event can resolution of trade errors or disputes occur under this Policy after the trade has settled.

Voluntary Accommodations

In the event that a trade is not eligible for review under this Policy (e.g., due to a review request being initiated later than the applicable deadline after the trade), a Subscriber to such trade may request that Bruce Markets attempt to reach a mutually agreed upon trade adjustment, cancellation or reversal with the contra-Subscriber, although Bruce Markets will be under no obligation to do so. In such an instance, Bruce Markets solely facilitates such requests by contacting the counterparty for assent to voluntarily adjust, cancel or reverse the subject transaction; however, Bruce Markets will not have any discretion over the actions of counterparties in this regard.

Subscriber Responsibilities

Subscribers are responsible for ensuring the accuracy and completeness of all information transmitted to the Bruce ATS. Accordingly:

• Traders should inspect each order prior to submitting it to the Bruce Markets platform;
• Traders should use available software warnings and protections;
• Traders should review trade details promptly after execution; and
• An assertion that a Subscriber made a mistake in entering an order or that a Subscriber failed to pay attention or update a quote, may not be sufficient for Bruce Markets to determine that a trade is considered a Clearly Erroneous Trade.

No price adjustment or cancellation can be assured or guaranteed, and a trade will stand unless and until Bruce Markets notifies the Subscribers by e-mail that the trade has been adjusted or canceled.

Refusal to Abide by Bruce Markets Determinations; Disputes

Use of any of Bruce Markets’ Open Trading protocols constitutes acceptance of Bruce Markets’ right to cancel or adjust any trade as described in this Policy. Bruce Markets shall not be liable for losses or damages arising as a result of Bruce Markets’ action or inaction pursuant to this Policy. Each Subscriber shall reimburse Bruce Markets for any losses, costs or expenses Bruce Markets incurs as a result of such Subscriber’s failure to abide by Bruce Markets’ determinations under this Policy.

Amendments to the Policy

Bruce Markets may amend, modify, supplement, or replace this Policy upon notice to Subscribers, without Subscribers’ explicit affirmative consent, upon ten (10) days advance notice of the effective date of the amendment, modification, supplement, or replacement of the Policy. Such notice may be made by letter, e-mail or notice on the Bruce Markets Website describing the relevant changes.

Extended Hours Risk Disclosure

Extended Hours Trading Risk Disclosure

Pursuant to FINRA Rule 2265, Bruce Markets LLC provides the following disclosure regarding the general risks of trading during the pre-market session or post-market session (the “extended hours”):

Risk of Lower Liquidity: there may be lower liquidity in extended hours trading as compared to regular market hours and as a result, your order may only be partially executed, or not at all.

Risk of Higher Volatility: there may be greater volatility in extended hours trading and as a result, your order may only be partially executed, or not at all, or you may receive an inferior price than you would during regular market hours.

Risk of Changing Prices: the prices of securities traded in extended hours trading may not reflect the prices either at the end of regular market hours, or upon the opening of the next morning.

Risk of Unlinked Markets: the prices displayed on a particular extended hours system may not reflect the prices in other concurrently operating extended hours trading systems dealing in the same securities and as a result you may receive an inferior price in one extended hours trading system than you would in another trading system.

Risk of News Announcements: normally, issuers make news announcements that may affect the price of their securities after regular market hours. These announcements may occur during extended hours trading, and if combined with lower liquidity and higher volatility, may cause an exaggerated and unsustainable effect on the price of a security.

Risk of Wider Spreads: lower liquidity and higher volatility in extended hours trading may result in wider than normal spreads for a particular security.

Risk of Lack of Calculation or Dissemination of Underlying Index Value or Intraday Indicative Value (“IIV”): for certain Derivative Securities Products, an updated underlying index value or IIV may not be calculated or publicly disseminated in extended trading hours. Since the underlying index value and IIV are not calculated or widely disseminated during the pre-market and post-market sessions, an investor who is unable to calculate implied values for certain Derivative Securities Products in those sessions may be at a disadvantage to market professionals.

General Disclaimer

The information provided on this website is for general informational purposes only. All information on the site is provided in good faith, however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information on the site.

Privacy & Legal

This page provides information on the privacy practices of Bruce Markets LLC (“Bruce”) and the terms of use for accessing and using our website. Below you will find the following:

• Bruce Online Privacy Notice: for website visitors and users of Bruce technology
• Terms of Use: for visitors to this website

Bruce Online Privacy Notice

This Online Privacy Notice describes the types of information we may collect from you or that you may provide to us when visiting or otherwise interacting with our websites and how we use, protect and disclose that information.

Online Privacy Notice

LAST UPDATED: December 19, 2024

Introduction

Bruce Markets LLC (“Company” or “We”) respect your privacy and are committed to protecting it through our compliance with this policy.

This policy describes the types of information we may collect from you or that you may provide when you visit the website www.brucemarkets.com (the “Website“) and our practices for collecting, using, maintaining, protecting, and disclosing that information.

This policy applies to information we collect:

• On the Website.
• In email, text, and other electronic messages between you and the Website or the Company.

It does not apply to information collected by:

• Us offline or through any other means, including on any other website operated by Company or any third party; or
• Any third party, including through any application or content (including advertising) that may link to or be accessible from or on the Website.

Please read this policy carefully to understand our policies and practices regarding your information and how we will treat it. If you do not agree with our policies and practices, your choice is not to use the Website. By accessing or using the Website, you agree to this privacy policy. This policy may change from time to time (see Changes to Our Privacy Policy). Your continued use of the Website after we make changes is deemed to be acceptance of those changes, so please check the policy periodically for updates.

Children Under the Age of 13

Our Website is not intended for children under 13 years of age. No one under age 13 may provide any information to or on the Website. We do not knowingly collect personal information from children under 13. If you are under 13, do not use or provide any information to the Website or through any of their features. If we learn we have collected or received personal information from a child under 13 without verification of parental consent, we will delete that information.

Information We Collect About You and How We Collect It

We collect several types of information from and about users of our Website, including information:

• By which you may be personally identified, such as name, postal address, e-mail address, telephone number, or any other identifier by which you may be contacted online or offline (“personal information“);
• That is about you but individually does not identify you; and/or
• About your internet connection, the equipment you use to access our Website, and usage details.

We collect this information:

• Directly from you when you provide it to us.
• Automatically as you navigate through the site. Information collected automatically may include usage details, IP addresses, and information collected through cookies.

Information You Provide to Us

The information we collect on or through our Website may include:

• Information that you provide by filling in forms on our Website. This includes information provided at the time of signing up to our Website or subscribing to any available promotional content. We may also ask you for information if you report a problem with our Website.
• Records and copies of your correspondence (including email addresses), if you contact us or participate in events.

Information We Collect Through Automatic Data Collection Technologies

As you navigate through and interact with our Website, we may use automatic data collection technologies to collect certain information about your equipment, browsing actions, and patterns, including:

• Details of your visits to our Website, including traffic data, location data, logs, and other communication data and any resources that you access and use on the Website.
• Information about your computer and internet connection, including your IP address, operating system, and browser type.
• The information we collect automatically may include personal information. It helps us to improve our Website.

The technologies we use for this automatic data collection may include:

• Cookies (or browser cookies). A cookie is a small file placed on the hard drive of your computer. You may refuse to accept browser cookies by activating the appropriate setting on your browser. However, if you select this setting, you may be unable to access certain parts of our Website. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies when you direct your browser to our Website.
• Flash Cookies. Certain features of our Website may use local stored objects (or Flash cookies) to collect and store information about your preferences and navigation to, from, and on our Website. Flash cookies are not managed by the same browser settings as are used for browser cookies. For information about managing your privacy and security settings for Flash cookies, see Choices About How We Use and Disclose Your Information.

Third-Party Use of Cookies and Other Tracking Technologies.

Some content or applications, including any advertisements, on the Website is served by third parties, including advertisers, ad networks and servers, content providers, and application providers. These third parties may use cookies alone or in conjunction with web beacons or other tracking technologies to collect information about you when you use our website. The information they collect may be associated with your personal information or they may collect information, including personal information, about your online activities over time and across different websites and other online services. They may use this information to provide you with interest-based (behavioral) advertising or other targeted content.

We do not control these third parties’ tracking technologies or how they may be used. If you have any questions about an advertisement or other targeted content, you should contact the responsible provider directly. For information about how you can opt out of receiving targeted advertising from many providers, see Choices About How We Use and Disclose Your Information. Please see our Cookie Policy.

How We Use Your Information

We do not sell any of your personal information. We use information that we collect about you or that you provide to us, including any personal information:

• To present our Website and its content to you.
• To provide you with information.
• To fulfill any purpose for which you provide it.
• To carry out our obligations and enforce our rights arising from any contracts entered into between you and us.
• To notify you about changes to our Website or any products or services we offer or provide though it.
• In any other way we may describe when you provide the information.
• For any other purpose with your consent.

Disclosure of Your Information

We may disclose aggregated information about our users, and information that does not identify any individual, without restriction.

We may disclose personal information that we collect, or you provide, as described in this privacy policy:

• To our subsidiaries and affiliates.
• To contractors, service providers, and other third parties we use to support our business and who are bound by contractual obligations to keep personal information confidential and use it only for the purposes for which we disclose it to them.
• To a buyer or other successor in the event of a merger, divestiture, restructuring, reorganization, dissolution, or other sale or transfer of some or all of Bruce Markets LLC’s assets, whether as a going concern or as part of bankruptcy, liquidation, or similar proceeding, in which personal information held by Bruce Markets LLC about our Website users is among the assets transferred.
• To fulfill the purpose for which you provide it.
• For any other purpose disclosed by us when you provide the information.

We may also disclose your personal information:

• To comply with any court order, law, or legal process, including to respond to any government or regulatory request.
• If we believe disclosure is necessary or appropriate to protect the rights, property, or safety of Bruce Markets LLC, our customers, or others.

Choices About How We Use and Disclose Your Information

We strive to provide you with choices regarding the personal information you provide to us. We have created mechanisms to provide you with the following control over your information:

• Tracking Technologies and Advertising. You can set your browser to refuse all or some browser cookies, or to alert you when cookies are being sent. To learn how you can manage your Flash cookie settings, visit the Flash player settings page on Adobe’s website. If you disable or refuse cookies, please note that some parts of this site may then be inaccessible or not function properly.
• Promotional Offers from the Company. If you do not wish to have your email address used by the Company to promote our own or third parties’ products or services, you can opt out by checking the relevant box located on the form on which we collect your data. If we have sent you a promotional email, you may send us a return email asking to be omitted from future email distributions or use the unsubscribe function at the bottom of the email.

We do not control third parties’ collection or use of your information to serve interest-based advertising. However, these third parties may provide you with ways to choose not to have your information collected or used in this way. You can opt out of receiving targeted ads from members of the Network Advertising Initiative (“NAI“) on the NAI’s website.

Data Security

We have implemented measures designed to secure your personal information from accidental loss and from unauthorized access, use, alteration, and disclosure.

Unfortunately, the transmission of information via the internet is not completely secure. Although we do our best to protect your personal information, we cannot guarantee the security of your personal information transmitted to our Website. Any transmission of personal information is at your own risk. We are not responsible for circumvention of any privacy settings or security measures contained on the Website.

Changes to Our Privacy Policy

It is our policy to post any changes we make to our privacy policy on this page. If we make material changes to how we treat our users’ personal information, we will notify you through a notice on the Website home page. The date the privacy policy was last revised is identified at the top of the page. You are responsible for ensuring we have an up-to-date active and deliverable email address for you, and for periodically visiting our Website and this privacy policy to check for any changes.

Contact Information

To ask questions or comment about this privacy policy and our privacy practices, contact us at:

Bruce Markets LLC
141 W. Jackson Blvd. Suite 500
Chicago, IL 60604

Bruce Markets LLC Terms of Use

These are the terms of use that govern your use or interaction with our websites.

Terms of Use

LAST UPDATED: December 19, 2024

This website, www.brucemarkets.com (“Site”), and all contents and materials herein (the “Site Contents”), are copyrighted under the laws of the United States of America and are protected by copyright laws and treaty provisions throughout the world. You may not copy, distribute, transmit, modify, frame, post or link this Site or the Site Contents without prior written consent of Bruce Markets LLC. (“Bruce”), as described below. You may download the Site Contents for personal and non-commercial use, provided that you do not modify or alter such Site Contents in any way, nor delete or change any copyright or trademark notice indicated on this Site. Bruce reserves and maintains complete title and full intellectual property rights for Site Contents downloaded from this Site, and no such title or intellectual property rights shall vest or be transferred in any way to you. All trademarks, logos, service marks, trade dress, slogans, copyrighted designs or other brand features of Bruce or its affiliated entities are owned by Bruce and may only be used pursuant to an explicit license agreement with Bruce. No Site Content or any part thereof may be modified, reverse-engineered, reproduced or distributed in any form by any means, or stored in a database or retrieval system, without the prior written consent of Bruce. You may not use the Site Content for any unlawful or unauthorized purposes.