Regarding Market Data Licensing

Market data subscription licensing, how HawkAlpha utilizes it per users own VPS, and complying with the data providers’ terms of service.

Alpaca licenses market data to the individual. The individual then decides to utilize the market data to benefit the user for their own non-professional use.

Here are some points to remember when it comes to HawkAlpha and it's use of Alpacas market data subscription:

• HawkAlpha does not utilize a users market data connection except in the users own VPS environment based on the users own configuration.

• HawkAlpha does not redistribute the users market data.

• HawkAlpha does not modify the users market data.

• HawkAlpha does not reverse engineer the users market data.

Individual market data licensing restrictions are the limitations and conditions that apply to the use of market data by individuals or non-professional users. Market data licensing restrictions may vary depending on the source and type of data, the purpose and scope of use, and the terms and fees of the license agreement. Some common market data licensing restrictions for individuals are:

• Attribution: The licensee must acknowledge the source of the data and respect any trademarks or copyrights of the licensor.

• Non-commercial use: The licensee must use the data only for personal, educational, or research purposes and not for any commercial or business activities.

• No redistribution: The licensee must not share, sell, or publish the data or any derived products or services to any third parties without the licensor’s permission.

• No modification: The licensee must not alter, manipulate, or combine the data with other data sources without the licensor’s permission.

• No reverse engineering: The licensee must not attempt to access, extract, or recreate the underlying methods, algorithms, or systems of the licensor that produce or process the data.

• No warranty: The licensee must accept the data as is and acknowledge that the licensor does not guarantee the accuracy, completeness, timeliness, or suitability of the data for any purpose.

Individual market data licensing restrictions are intended to protect the rights and interests of the licensor and to prevent unauthorized or improper use of the data. Licensees should carefully read and understand the license agreement before using any market data.