Terms of Use

Deutsche Bank AG (hereinafter also referred to as “Deutsche Bank”) grants a revocable, non-exclusive, non-transferable and limited permission to access and use the X-markets website and the materials contained therein to natural persons visiting the X-markets website (hereinafter referred to as "User"). The permission is valid only to the extent that the User pursues exclusively the objectives described below and complies with the restrictions set forth in these Terms of Use. The User is not allowed to interrupt the operation of the X-markets website in any way or to try to do so.

Nothing contained on this X-markets website should be considered as an offer to purchase any of the products as described on this X-markets website. Pricing levels and valuations published on the X-markets website are indicative and - just like other information displayed thereon - are for information purposes only.

In many cases, a prospectus can be found on the X-markets website. Full details of the securities concerned, including the risks, are given in the prospectuses concerned (base prospectuses, together with any supplements, and the relevant final conditions). The base prospectus and the final conditions are the only binding sales document of the respective securities. Investors can download these documents from www.xmarkets.db.com.  Before making an investment decision, investors should read the prospectus in order to fully understand the risks and opportunities of investing in the securities. Approval of the prospectus by BaFin or any other authority is not to be construed a endorsement of the securities.

Information made available on the X-markets website should not be considered as investment advice or any form of recommendation to purchase products described thereon. The information made available on the X-markets website does not contain any individual investor-specific information and does not replace investor or investment specific advice. If necessary, investors should seek professional investment advice before making an investment decision.

Past performance information contained on the X-markets website is not indicative of future results.

Although best efforts have been used to ensure that the information set out on the X-markets website is reliable, no warranty is made as to its accuracy, completeness and adequacy.  The X-markets website and its Content (as defined in no. 9 below) are provided "as is". Apart from the exception that liability cannot be limited under the applicable law, and apart from liability for gross negligence and intent and liability for prospectuses, key information documents and in other cases of specific rules of legal liability for certain documents (all of the before mentioned cases are referred to below as "Mandatory Liability"), Deutsche Bank AG, its respective licensors or other third parties that make information or functionalities available on or through the X-markets website do not guarantee

1. the punctuality, accuracy or completeness of the information provided on the X-markets website as intended, including all price information; 

2. the accuracy of the results obtained by the User or other third parties through use of the X-markets website. Apart from cases of Mandatory Liability, Deutsche Bank AG does not assume any liability for information provided by third parties on or through the X-markets website.

All opinions or assessments presented as opinions or assessments of Deutsche Bank AG reflect the current assessment of Deutsche Bank at the time of publication, which can be changed without prior notice. They may differ from the opinions or assessments of other business units or companies of the Deutsche Bank Group.

To the extent that the applicable law requires, the Contents of the X-markets website do not constitute any representation, either express or implied, including, but not limited to, the tradability of the presented products or securities, the freedom from rights of third parties or the suitability for specific purposes. Similarly, Deutsche Bank AG does not guarantee that the website or any function or Content of this X-markets website will be offered without interruption or error-free, that defects will be rectified, that the X-markets website or the server on which the X-markets website is made available, or that any connected system will be free of viruses or other harmful components. 

Rates, news or other market or exchange information displayed on the X-markets website are delayed for at least 15 minutes unless otherwise stated. 

Deutsche Bank has the necessary consent for the use of the prospectus for all securities it offers, which is used in accordance with the conditions to which the consent is subject. 

The use of the X-markets website is at the User’s own risk. The User shall be solely responsible for and bear the risk of loss arising from downloading, accessing or using the X-markets website and/or its Content. 

Except in cases of Mandatory Liability,

1. Deutsche Bank AG or its respective licensors or other third parties that make information or functionalities available on or through the X-markets website shall not be liable for any damage (1) resulting from the information published on the X-markets website (including documents available on the X-markets website) or (2) resulting from errors in or omissions on the X-markets website; 

2. Deutsche Bank AG or its respective licensors or other third parties that make information or functionalities available on or through the X-markets website shall not be held liable for damages arising from orders, investment decisions or the purchase of goods or services of third parties (including financial instruments and foreign exchange) based on information made available on the X-markets website; 
   

3. and under no circumstances may Deutsche Bank AG, its respective licensors or any other third party that makes information or functionalities available on or through the X-markets website be used for claims for damages in any way, whether direct or indirect, punitive, atypical or consequential, arising from the use of the X-markets website, or from their unusability, even if Deutsche Bank AG or their respective licensors or other third parties that make information or functionalities available on or through the X-markets website have been made aware of the possibility of such damage occurring or that such damage was foreseeable.

1. Changes of the X-markets Website

   Deutsche Bank AG reserves the right to partly or completely change the X-markets website at any time and to restrict, interrupt or terminate its service including the services, information, properties or functionalities offered on the website, which are available in the context of the intended use of the X-markets website. Deutsche Bank AG reserves the right to limit the use of individual properties, functionalities or services or to restrict access to parts or the entire X-markets website without prior notice.
   

2. Changes of General Terms and Conditions of Use

   Deutsche Bank AG reserves the right to modify or amend these Terms of Use at any time.

Deutsche Bank AG and its respective suppliers, if any, reserve all rights to all data, texts, images, software and other elements (including multimedia elements) displayed, distributed or made available for download on this X-markets website or required to provide a function of this X-markets website (hereinafter referred to as "Content"). 

By using the X-markets website and Content and giving permission to do so, the User gains a simple right to the X-markets website or Content limited to the duration of use. The User may copy or print out these Terms of Use or other parts of the Content exclusively for private, non-commercial purposes. 

All such copies are subject to the limitations set forth in these Terms of Use and must contain a copy of Deutsche Bank AG’s copyright notices. 

The User may not download, display, reproduce, create, transfer, sell, distribute, lease, re-license, rent or lend the X-markets website or Content, unless expressly permitted in these Terms of Use. 

The User shall be prohibited from:

1. using the X-markets website (including, without any limitation, third-party software where applicable) to provide services to third parties; 

2. modifying or removing the copyright notices of Deutsche Bank AG or any of its respective suppliers; 

3. using trademarks, service or product names, domain names, logos or other identifiers of Deutsche Bank AG or other third parties without the prior written consent of Deutsche Bank AG or the third party; 

4. apart from usual caching, in the context of viewing the relevant page, copying, downloading or storing market information (such as securities prices, corporate news, stock market indices), distributing or allowing access to market information, or using these market data to generate an index, if this index can be used as a tradable instrument in the sense of a security.

Deutsche Bank AG respects your privacy. Personal data, which are collected when visiting our website, are processed in accordance with the applicable data protection laws. Further information regarding data protection can be found on the privacy policy notice page.

Communications over the Internet and by e-mail cannot be guaranteed to be secure. There is a risk that information contained within an e-mail communication and any attachment thereto, including potentially confidential information, may be intercepted, lost, destroyed or delayed in transmission. Although Deutsche Bank AG will use reasonable efforts to minimise such risk, it does not warrant that any communication or e-mail or any attachments thereto, that is sent out, will be free from viruses, worms or other harmful components.

The X-markets website may contain references to other websites (links), which in turn may reproduce content produced or made available by Deutsche Bank independent operators. Deutsche Bank AG is not responsible for information on websites that can be reached via links on this X-markets website and therefore assumes no liability for the content on the part of third parties. This also applies to stock exchange, financial and other price sensitive information that is taken over online in real time or in a deferred manner from systems of third-party providers on these websites. 

All opinions or recommendations expressed on those independent websites are solely those of providers or operators independent of Deutsche Bank and are not the opinion or recommendation of Deutsche Bank. The mere existence of a reference to such websites does not constitute a recommendation or other confirmation by Deutsche Bank in respect of or in favor of those independent websites, their content or their operators.

1. Governing Law

   These Terms of Use are governed by and shall be construed in accordance with German law.
   

2. Jurisdiction

   Each private User who is not a resident of one of the countries for which the Regulation (EU) No 1215/2012 of the European Parliament and of the Council of 12 December 2012 on jurisdiction and the recognition and enforcement of judgements in civil and commercial matters is applicable, or which have entered and ratified the Convention on jurisdiction and enforcement of judgements in civil and commercial matters signed at Lugano on 16 September 1988 or the Convention on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters signed at Lugano on 30 October 2007, and merchants are subject to the exclusive jurisdiction of the competent court of Frankfurt am Main, Germany, in respect of any disputes arising under these Terms of Use.

If at any time any provision (or part of any provision) of these Terms of Use is, or becomes, illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect the legality, validity or enforceability in that or any other jurisdiction of any other provision (or any other part of this provision) of these Terms of Use.

1. Scope

   These Terms of Use are valid for the benefit of Deutsche Bank AG and for the benefit of the other members of the Deutsche Bank Group, and also cover their respective successors in title and their respective assignees and representatives. If rights arise from these Terms of Use, Deutsche Bank AG or any member of the Deutsche Bank Group may transfer these rights to any other of the foregoing or other third parties. 
   

2. Delegation of tasks

   Deutsche Bank AG reserves the right to have functions related to the operation of the X-markets website performed by third parties.
   

3. No implied waiver

   The non-exercise or late exercise of any rights on the part of Deutsche Bank AG cannot in any case be construed as a waiver of such right. The partial exercise of a right shall not preclude the further assertion of that right. The waiver of a right does not imply waiving or altering any other right.

4. Contractual agreements

   If contractual agreements between Deutsche Bank AG and the User (in particular the respective General Terms and Conditions) deviate from these Terms of Use, the contractual agreements shall apply as a matter of priority.

5. Compatibility with export provisions

   The use of the X-markets website may require the use of encryption technologies that may be subject to special export regulations or restrictions. The User is prohibited from passing on these technologies without (i) the prior written consent of Deutsche Bank, (ii) the User’s compliance with all relevant export regulations and (iii) the User’s compliance with the regulations of the country in which the technology is being transferred or used.

The products described on the X-markets website are not eligible for sale in all countries and in any event may only be sold to qualified investors. The prospectuses contain information as to the selling restrictions applicable to any particular product and the User should read them carefully.

In particular, the following restrictions apply:

Residents of the United States of America:

The information set out on the X-markets website is not directed to the United States. US citizens (as defined in Regulation S under the US Securities Act 1933) and persons resident in the US may not enter the X-markets website. Information from this X-markets website may not be distributed or redistributed into the United States or into any jurisdiction where it is not permitted. The securities set out on the X-markets website have not been and will not be registered under the US Securities Act of 1933 and trading in the securities has not been approved for purposes of the US Commodities Exchange Act of 1936. The securities may not be offered or sold in the United States, to US citizens or US residents.

The products described on the X-markets website are only offered or sold to persons in any other jurisdiction, if applicable law permits this.

Published by Deutsche Bank AG 
© Deutsche Bank AG, Frankfurt am Main. 
All rights reserved.