Terms of Use
CIBC Capital Markets owns and maintains this website (the "Site"). By accessing or using the Site, you signify your agreement with and understanding of the following terms and conditions of use ("Terms of Use"). If you do not agree with any of the Terms of Use, do not access or use the Site. We reserve the right, in our sole discretion, to modify, alter or otherwise update these Terms of Use at any time and you agree to be bound by such revisions, modifications, alterations or updates. You agree to review these Terms of Use on a regular basis and your continued use of the Site means that you agree with any revisions, modifications, alterations or other updates made to the Terms of Use.
Access to Research Sites
You may be provided with a login and password to access to certain restricted research related content on certain parts of the Site (the "Research Sites"). Your use of the Research Sites is subject to these Terms of Use in addition to any supplementary terms or conditions of use that apply specifically to the use of the Research Sites as may be found on the Research Sites.
General
CIBC Capital Markets is a trademark brand name under which different legal entities provide different services under this umbrella brand. Products and/or services offered through CIBC Capital Markets include products and/or services offered by the Canadian Imperial Bank of Commerce and various of its subsidiaries. Services offered by the Canadian Imperial Bank of Commerce include corporate lending services, foreign exchange, money market instruments, structured notes, interest rate products and OTC derivatives. Other products and services, such as exchange-traded equity and equity options, fixed income securities, are offered through directly or indirectly held subsidiaries of CIBC as indicated below.
CIBC World Markets Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. In the United States, CIBC World Markets Corp. is a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Fund. CIBC World Markets plc is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. CIBC World Markets Securities Ireland Limited is regulated by the Central Bank of Ireland. CIBC Australia Ltd is regulated by the Australia Securities and Investment Commission. CIBC World Markets (Japan) Inc. is a member of the Japanese Securities Dealer Association. Canadian Imperial Bank of Commerce, Hong Kong Branch, is a registered institution under the Securities and Futures Ordinance, Cap 571. Canadian Imperial Bank of Commerce, Singapore Branch, is an offshore bank licensed and regulated by the Monetary Authority of Singapore.
No Warranty
The materials found on the Site are provided "as is" without warranty of any kind, either express or implied, to the fullest extent permissible pursuant to applicable law, including but not limited to the implied warranties of merchantability, operation, usefulness, completeness, accuracy, currentness, reliability, fitness for a particular purpose or non-infringement. CIBC Capital Markets assumes no responsibility for, and makes no warranties that (i) the information on the Site is complete, accurate and suitable for your purposes; (ii) functions contained on the Site will be uninterrupted or error-free; (iii) the Site may be accessed at all times and in an uninterrupted manner; (iv) that defects and errors on the Site will be corrected; and (v) that the Site or the server that makes it available will be free of viruses or other harmful components. The information and content contained on the Site may be changed without notice and CIBC Capital Markets has no duty to update or correct any information on the Site, nor to update you regarding any changes or updates that have been made. CIBC Capital Markets will not be liable for any damages to, viruses that may infect, or services, repairs or corrections that must be performed on your computer or other property on account of your accessing or use of this site. Please note that some jurisdictions do not allow the exclusion of implied warranties, so some or all of the above exclusion may not apply to you.
Liability Waiver
Your use of the Site is not intended to and shall be deemed not to create a legal relationship of any kind between yourself and CIBC Capital Markets, nor to amend or vary any existing legal relationship. Under no circumstances, including, but not limited to, negligence, will CIBC Capital Markets be liable for any special or consequential damages that result from the access, reliance, use of, or the inability to access or use the Site or the materials on the Site, even if CIBC Capital Markets or an authorized representative of CIBC Capital Markets has been advised of the possibility of such damages. In no event shall CIBC Capital Markets’ total liability for any and all damages and causes of action exceed the amount paid by you, if any, for the access to and use of the Site.
Global Dealing Restrictions
The Site contains material regarding our offerings and such material, depending on the jurisdiction, may not be applicable or available in all jurisdictions. Every jurisdiction has specific laws regarding the types of products that may be offered to its residents, therefore not all products and services shown on the Site may be available in all jurisdictions. Accordingly, CIBC Capital Markets makes no representations that materials found on the Site are appropriate for use in all locations, or that transactions, securities, products, instruments, services or other offerings discussed on the Site are available or appropriate for sale or use in all jurisdictions, or by all investors or counterparties. Please be aware of the laws of your country or that otherwise apply to you in respect of any of the matters described on the Site. Those who access the Site do so of their own initiative, and are responsible for compliance with the laws that are applicable in their jurisdiction. Users of the Site may not necessarily be able to deal directly with all entities whose material is available on the Site. No software or information on the Site may be downloaded or otherwise exported in contravention of any applicable laws or regulations, including all applicable export control laws and regulations.
No Offer of Securities - Disclosure of Interests
Under no circumstances should any material on the Site be used or considered as an offer to sell or a solicitation of any offer to buy the securities, products or any other instruments of CIBC World Markets Inc. or any other issuer or subsidiary of Canadian Imperial Bank of Commerce. The material found on the Site is not intended to constitute financial, legal, tax, investment, professional or expert advice and is only intended for general circulation purposes to users of the Site.
Disclosure of Interests
CIBC Capital Markets may make a market or deal as principal in the securities, commodities or instruments mentioned in materials at this site or in options or other derivative instruments based thereon. In addition, CIBC Capital Markets, or its shareholders, directors, officers, employees and/or other affiliates, may from time to time have long or short positions in such securities or in options, futures or other derivative instruments based thereon. One or more of CIBC Capital Markets’ directors, officers and/or employees may be a director of the issuer of the securities mentioned on the Site. CIBC Capital Markets or its affiliates may have managed or co-managed a public offering of, or acted as initial purchaser or placement agent for a private placement of, any of the securities of any issuer mentioned on the Site, or may from time to time perform investment banking or other services for, or solicit investment banking or other business from, mentioned companies. CIBC Capital Markets and/or any of its affiliates may have received remuneration in connection with any of the activities described immediately above.
Price Information/Valuations
Actionable prices may only be obtained on a real-time, expressly agreed upon basis. Any indicative valuations or estimates in materials on the Site are provided for informational purposes only. Any information regarding any valuations with respect to any materials does not constitute an offer to enter into, transfer and assign or terminate any transaction, or a commitment by CIBC Capital Markets to make such an offer. Indicative valuations on the Site may vary significantly from indicative valuations available from other sources. While CIBC Capital Markets has obtained the information on which these valuations are based from sources believed to be reliable, CIBC Capital Markets makes no representations or warranties with respect to the correctness, accuracy or completeness of any indicative valuations.
Hypothetical or Past Performance
Hypothetical or simulated performance results have inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are designed with the benefit of hindsight. Past performance is not in any way indicative of any future results and no representation is being made with respect to past performances being in any way indicative of future performance.
Material to be Consulted in its Entirety
All materials at this site are meant to be reviewed in their entirety, including any footnotes, legal disclaimers, restrictions or disclosures, and any copyright or proprietary notices. You are deemed to have notice of all appropriate disclaimers, notifications, footnotes or disclosures through use of the Site. All products or services that are provided by CIBC Capital Markets are subject to the terms of any applicable agreements. Any disclaimers, restrictions, disclosure or hedge clauses apply to any partial document or material in the same manner as they do the whole, and will be deemed incorporated in the portion of any material or document that you consult or download.
Linked Sites
For purposes of providing users with convenience, various links to third party sites ("Third Party Sites") may be found on the Site. CIBC Capital Markets has no control over any of the material found on these Third Party Sites. Your use of any Third Party Site is at your own risk. CIBC Capital Markets does not review, endorse, approve or control any of the Third Party Sites linked to the Site, and are not responsible for the content of any other websites linked to the Third Party Sites. CIBC Capital Markets makes no representations and are not responsible for the quality of any Third Party Site. The inclusion of links to these Third Party Sites should not be taken in any way to be an endorsement by CIBC Capital Markets of any information found upon the Third Party Site and does not imply that CIBC Capital Markets has verified any of the information provided on the Third Party Sites. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, trojan horses and other items of a destructive nature.
Trademarks
Trademarks, logos, titles, phrases, icons, graphics, designs and service marks ("Trademarks") displayed at this site are registered or unregistered trademarks of Canadian Imperial Bank of Commerce and of other parties. Nothing at this site shall be construed as granting, by implication, estoppel or otherwise, any license or right to use any of Canadian Imperial Bank of Commerce Trademarks. Anything that you transmit to the Site becomes the property of Canadian Imperial Bank of Commerce, and its subsidiaries and may be used by Canadian Imperial Bank of Commerce and its subsidiaries for any lawful purpose, and is further subject to disclosure as deemed appropriate by us, including to any legal or regulatory authority to which we are subject. Canadian Imperial Bank of Commerce and its subsidiaries reserves all rights with respect to copyright and trademark ownership of all material on the Site, and will enforce such rights to the full extent of the law. Any unauthorized use of any of the Trademarks will be a violation of Canadian Imperial Bank of Commerce and its subsidiaries' statutory or common law rights and may result in legal action being taken against those who are using the Trademarks without authorization.
The following marks include registered or unregistered trademarks or trade names of Canadian Imperial Bank of Commerce in Canada and/or its subsidiaries in other jurisdictions:
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| CIBC World Markets | |
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| CIBC Griffis & Small |
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Applicable Law
The Site is administered by by CIBC Capital Markets from Toronto, Canada. This agreement shall be governed by and construed in accordance with the substantive and procedural laws of the Province of Ontario and the laws of Canada applicable therein, without giving effect to any principles of conflicts of laws. You submit and attorn to the exclusive jurisdiction of the courts of the Province of Ontario to finally adjudicate or determine any suit, action or proceeding arising out of or in connection with your use of the Site.