06 Feb 2019

Standard Data Trial Agreement (Word)

Alternative or Big Data continues to expand and covers a wide range of data sources. This Trial Data Licence template addresses key issues such as personal data protection, prevention of insider trading and the right to use the data.

Alternative Data or Big Data can include both structured numeric databases and unstructured formats including text, video and audio data.

High-profile data breaches and the commercialisation of some of this data has increased scrutiny on use of this data, raising questions on the right to use data and personal privacy. When negotiating licences for using data, these risks need to be considered alongside more traditional risks such as material non-public information.

This Standardised Trial Data Licence Agreement includes key legal clauses investment managers and alternative data vendors should consider including:

  • General contractual and commercial arrangements,
  • Confidentiality,
  • Licence terms,
  • Representation and warranties,
  • Governing law,
  • Rights after termination, and
  • Additional provisions.