ENGIE Global Markets Internet website disclaimer

You are currently connected to to the ENGIE Global Markets website (www.engie-globalmarkets.com, hereinafter the “Site”). As used herein, the terms "you" and "user" shall mean any visitor to this Site.

Please read these terms and conditions carefully (the “Conditions”). By accessing this Site you agree to be bound by the Conditions. The Conditions are subject to change without notice, from time to time and in our sole discretion. If you do not agree with these Conditions, please do not access this Site.

1. PUBLISHER INFORMATION

This Site is issued and maintained by ENGIE Global Markets (“EGM”), a wholly owned subsidiary of ENGIE S.A. EGM is a French Société par actions simplifiée with a share capital of 683,200,000 Euros, whose registered number is 437 982 937 RCS Paris, whose VAT registration number is FR 154 379 829 37 and whose registered office is at 1, place Samuel de Champlain, 92400 Courbevoie, France.

EGM is an investment services provider authorized and regulated by the Autorité de Contrôle Prudentiel et de Résolution (the “ACPR”, the French Prudential Supervision Authority). EGM is subject to the ACPR rules and guidance, details of which can be found on the ACPR's website at https://acpr.banque-france.fr/accueil.html. The ACPR is an independent administrative authority operating under the auspices of the Banque de France whose mission is to safeguard the stability of the French financial system and is located at 61 rue Taitbout, 75009 Paris. Moreover, EGM is also subject to the rule of the Autorité des Marchés Financiers (the “AMF”) and the relevant provisions of the French Code Monétaire et Financier.

Legal representative: Mr Philippe Vedrenne
Editorial Director: Mr Julien Juge

Copyright © photos:
David Plas / ENGIE / Dureuil Philippe / Rogelio Alberto Pozo Palma Agencia Comunicaciones E.I.R.L. - Claudio Pozo Alarcon / Abacapress / Douliery Olivier / Interlinks Image / Leimdorfer Gilles / Friedman Rick / Hautemaniere Noel / Anne Martiréné 

2. USE OF SITE

The following conditions constitute a legal agreement between you and EGM. In accessing, visiting or using the Site, you acknowledge that you have read, understood and agree to be bound by the Conditions, and that you undertake to comply with all applicable laws and regulations. You are responsible for being familiar with the current version of these Conditions posted on the Site during each session. The user's access to and use of the Site, and the terms of this disclaimer are governed by the laws of France.

You can access the Site free of charge (excluding connection costs) for your personal use, subject to compliance with the Conditions as set out below.

You may only use the Site for legitimate purposes; any use or abuse of the Site for illegal or immoral purposes is strictly prohibited. You are strictly prohibited from unauthorized use of our systems or this Site, including but not limited to unauthorized entry into our systems, misuse of passwords, or misuse of any information posted to this Site. In addition, you agree that you will not use any robot, spider, other automatic device or manual process to monitor or copy our web pages, data or the content contained therein or for any other unauthorized purpose without express written consent of EGM.

Access to the products and services displayed on the Site may be subject to restrictions in the case of certain persons or in certain countries. EGM is not entitled to conduct business in all jurisdictions, which may include the products and services displayed on the Site or any information made available through the Site. Some products and services may not be available in all jurisdictions or to all customers. EGM will not provide the products or services offered on the Site to persons for whom they are prohibited by law in their country of origin or in any other country concerned. Persons reading this information must satisfy themselves that they are legally authorized to connect to the Site in the country from which the connection is made.

You are required to read and abide by any additional terms and conditions that may be posted on this service from concerning information obtained from specific third party providers. Such third party providers shall have no liability to you for monetary damages on account of the information provided to you via this Site.

We may in our sole discretion terminate your access to or use of this Site for any reason, including, without limitation, where we believe that you have not acted in accordance with the Conditions.

You acknowledge that we may disclose and transfer any information that you provide through this Site (i) to our parent company and any of our branches, affiliates, agents or information providers; (ii) to any other person or entity with your consent, or (iii) if we have a right or duty to disclose or are permitted or compelled to disclose such information by law, regulation, regulatory body or in connection with any court or regulatory proceeding. You consent to the transmission, transfer or processing of such information to, or through, any country in the world, as we deem necessary or appropriate, and by using and providing information through this Site you agree to such transfers.

Use of this Site may be monitored, tracked and recorded. Anyone using this Site expressly consents to such monitoring, tracking and recording.

3. COPYRIGHT

The entire content of this Site is subject to French law relating to copyright and trademarks, and in general, to intellectual property. The content of the pages on this Site is the exclusive property of EGM and its third party providers.

You may access and display the information made available to you via the Site on a computer screen, print individual pages or save such pages in electronic form on a disk (but not on a server or on a storage peripheral connected to a network), provided, however, that third party exchange data, if any, may not be downloaded, printed or redistributed for any purposes whatsoever.

Information posted on the Site may not be duplicated, copied, sold, resold, broadcasted, re-disseminated, re-transmitted or re-distributed, in whole or in part, in any format (including by storage in cache memory and by rastering) to any third party without the express written consent of EGM. Re-dissemination and re-distribution includes, without limitation, making any such information available via the Internet or via any other electronic means of access. Any breach of these prohibitions will render the party concerned liable in civil and criminal law.

The Conditions are not intended to, and will not, transfer or grant any rights to the information other than those which are specifically described herein, and all rights not expressly granted herein are reserved by EGM or the third party providers from whom EGM has obtained the information.

All trademarks and service marks on this Site are used with the permission of their respective owners. You may not alter, obscure, or remove any copyright, trademark or any other notices that are provided to you in connection with the information.

4. LIMITATION OF LIABILITY AND EXCLUSION OF WARRANTY

All information on this Site is meant for information purposes only. EGM and its third party providers take all reasonable steps to ensure that the information displayed on the Site is correct and up to date and that all information contained herein has been obtained from and/or is based upon sources believed to be reliable and is deemed to be clear, fair and not misleading. Nevertheless, EGM makes no representations or warranties and, to the fullest extent permitted by law, hereby expressly disclaims any and all express, implied and statutory representations and warranties of any kind to the user and/or any third party including, without limitation, any warranty as to correctness, completeness, timeliness, accuracy, quality, reliability, performance, continued availability, merchantability, fitness for a particular purpose, non-infringement and/or freedom from computer virus. The views and opinions, forecasts, assumptions, estimates and targets that may be contained herein are as of the date indicated and are subject to change at any time without prior notice. The figures that may refer to past performance therein, if any, are in no instance an indication of future valuations or future performance.

EGM and its third party providers also disclaim any liability (whether direct or indirect) in the event of any delay, error or omission in relation to the content and use of the Site, or in the event that the service is interrupted or unavailable. EGM and its third party providers shall have no responsibility to maintain the data and services made available on this Site or to supply any corrections, updates, or releases in connection therewith.

All market data herein contained shall at all times be and remain the sole and exclusive property of its acknowledged publisher, as identified as the third party provider of the data. Please note that all market data from third party providers may be protected by International or French copyright laws and is made available herein on a non-commercial basis and meant for information purposes only. Any other use of such market data shall be subject to an agreement between the client and the concerned third party provider. It is your responsibility to comply with these rules.

EGM reserves the right, in its sole discretion, to amend any element of the Site. Availability of data and services are subject to change without notice. EGM may also amend these conditions at any time and in its sole discretion.

EGM makes no warranty whatsoever, express or implied, regarding the security of the site, including with respect to the ability of unauthorized persons to intercept or access information transmitted through this Site. EGM cannot guarantee uninterrupted access to the Site, or the total absence of errors connected therewith. The service may be interrupted as a result of maintenance problems, repairs, computer problems, Internet service disruption or other unforeseen circumstances. Similarly, EGM is not responsible for delays, difficulties of use or incompatibility affecting the Site, computer files, web browsers or any other program used to access the Site.

Nothing on this site should be construed as an offer, solicitation, or recommendation on the part of EGM or any of its third party providers, to purchase, sell or subscribe for financial services, nor does it constitute the solicitation of an offer to purchase or sell negotiable instruments or any other investment product, or to provide any investment service or investment advice in any jurisdiction. Any dated information that is published on the Site is only valid for the date specified. Any information concerning any number of financial instruments is provided as seen and for information purposes only, even if based on reliable sources.

The Site, including all information contained on the Site and any services that may be provided by us and our third party providers through this Site are on an "AS IS" and “AS AVAILABLE” basis. You access, use and rely on the information contained in this Site at your own risk. You are solely responsible for the use that you make of this information, and for the results obtained. It is also your responsibility to verify all information received via the Internet. In particular, warranties concerning commercial use, current contracts, market value or the suitability of the service or data for a particular purpose, are expressly excluded.

You acknowledge that the use and interpretation of the information requires specific and detailed knowledge of the financial markets. You acknowledge that dealing in commodities, financial instruments, derivative products (such as, but not limited to forward, options, and contracts for differences) or other assets involves specific risks and other significant aspects. You should not deal in these products unless you understand their nature and the extent of your exposure to risk.

You are strongly advised to seek independent legal or financial advice before making any investment decisions and in particular to verify whether such investment decisions meet your particular investment objectives and financial capacities. You should not in any case make investment decisions solely on basis of the information contained herein. If you wish to obtain any of the products or services offered herein, you are asked to contact EGM to obtain information on its availability, prices and contractual conditions applicable.


In this respect, EGM, its parent company, branches, affiliates, directors, employees, agents or advisers, third party providers or any other person cannot be held liable for any damages or loss of any kind, including, without limitation, any direct, indirect, consequential, incidental, special, punitive, or exemplary damages, expenses or losses, loss of any profit, goodwill or reputation, losses of business, losses resulting from an interruption of the service, or an increase in the costs of accessing and processing the information arising out of, or in connection with your use or inability to use the Site, the access of, use of, performance of, browsing in or linking to other sites from this Site or in connection with any error, omission, defect, computer virus or system failure, and including, in particular, those resulting from transactions carried out on the basis of information displayed on the Site, regardless of whether we have been apprised of the likelihood of such damages occurring and regardless of the form of action, whether in contract, warranty, tort (including negligence), strict liability, or otherwise.

In particular, EGM may not be held liable in any circumstances for any direct or indirect damage resulting from transmission through the Site by a third party of a virus liable to infect your computer system after you connect to, use or navigate around the Site. Similarly, EGM may not be held liable for any material or incidental damage (including, without limitation, any technical defect, disclosure of confidential documents or loss of data), or for any other indirect damage of any kind occurring during, or associated with, the use of the Site.

5. ADDITIONAL CONDITIONS APPLICABLE TO MATERIALS

Without prejudice to the foregoing, users of this Site are informed of the following additional Conditions to the relevant materials that may be posted on the Site as specified below.

(i) Economic research and forecasts:
This material is intended for information purposes only. It does not constitute independent investment research, a personal recommendation or other general recommendation relating to transactions in financial instruments or investment advice.

This material is intended for general distribution and it does not take into account any specific investment objectives, financial situation or particular needs of any recipient. It cannot be transmitted to any other person without the prior written consent of EGM.

The information contained therein, including any expression of opinion, is not intended to constitute an offer or a solicitation to buy or sell any financial instruments, products or services, investment research or investment recommendation or other financial, investment, legal, tax or accounting advice or any other advice.

Further, all information contained therein has been obtained from and/or is based upon sources believed to be reliable, is deemed to be clear, fair and not misleading but cannot be guaranteed as to correctness, completeness, timeliness, accuracy, quality, reliability, performance, continued availability, merchantability, fitness for a particular purpose, non-infringement and/or freedom from computer virus. The views and opinions, forecasts, assumptions, estimates and target prices reflected in this material are as of the date indicated and subject to change at any time without prior notice. The figures that may refer to past performance therein are in no instance an indication of future valuations or future performance.

EGM is under no obligation to disclose or to take account of this document when advising or dealing with or for its customers.

Neither EGM, nor any of its affiliates – including its parent company, branches, directors, employees, agents or advisers nor any other person – accept any liability to anyone for any direct, indirect, special, incidental, consequential, punitive or exemplary damages (including, but not limited to, lost profits) arising from the use and dissemination of this material or the information contained therein in any jurisdiction.

Nothing in this material is intended for use by or targeted at private customers and retail clients (as defined in the Directive 2004/39/EC of the European Parliament and of the council of 21 April 2004 on markets in financial instruments - “MiFID”). Should a retail client or private customer obtain a copy of this material they should not rely solely on the information contained herein to make investment decisions. EGM strongly recommends that they seek independent financial, legal, tax or accounting advice before making any investment decisions.

EGM, any of its affiliates – including its parent company, branches, directors, employees, agents or advisers or any other person shall not be liable for any use of this material or the information contained herein that could result in any financial losses or in making any decision to enter into transactions on the basis of this material in any jurisdiction.

Dealing in commodities, financial instruments, derivative products (such as, but not limited to forward, options, and contracts for differences) or other assets involves specific risks and other significant aspects. You should not deal in these products unless you understand their nature and the extent of your exposure to risk. The recipient of this material is strongly advised to seek independent financial, legal, tax or accounting advice before making any investment decisions, notably to verify whether such investment decisions meet the recipient’s particular investment objectives and financial capacities and should not in any case make investment decisions solely on the basis of this document.

EGM, or/and its affiliated companies in the ENGIE group, may from time to time and to the extent permitted by applicable law, act on the basis of, or use the information contained in this material, prior to or immediately following its dissemination. They may from time to time deal in, profit from the trading of, hold or act as market-makers, advisers or brokers in relation to the commodities, financial instruments, derivative products or other assets mentioned in this material. EGM, its affiliates – including its parent company, branches, directors, employees, agents or advisers – may from time to time have a position in, or be holding any of the investments or related investments mentioned in this material.

The circumstances under which this material has been produced are such that it is not appropriate to define it as independent investment research as defined in the MiFID. This material should be treated as marketing communication for the purposes of the MiFID. This material has not been prepared in accordance with the regulatory provisions designed to promote independent investment research and EGM is not subject to any prohibition on dealing in the relevant commodities, financial instruments, derivative products or other assets mentioned in this material ahead of the dissemination of this marketing communication. Some of the reasons are that the reporting or remuneration structures or the physical location of the author of the present material or the fact that the author may take part in customer relationships may not comply with the legal requirements designed to promote the independence of investment research.

This material has been prepared by the economists of EGM. Each of the authors of this material hereby certifies that the views expressed herein accurately reflect his or her personal views regarding commodities, financial instruments, derivative products or other assets mentioned in this material and not the views of EGM or any other employees of EGM.

EGM is not entitled to conduct business, which may include the dissemination of this material, in all jurisdictions. Some products and services may not be available in all jurisdictions and/or to all customers. Therefore, advice should be sought by the recipient of this material regarding the compliance of any intended investment with any laws or regulations applicable to it before making any investment decision.

All market data, names and sources that may be included or mentioned in this material may be the exclusive property of its acknowledged publisher, as identified as the source of the data and may therefore be protected by International or French copyright laws. It is your responsibility to comply with these rules.

(ii) Notes
Notes concerning products that are published on the Site are provided solely for information purposes and do not in and of themselves constitute a commercial offer; users must contact their commercial contact at EGM in order to find out whether the services or products are available and what prices and contractual conditions apply.

(iii) Technical analysis
Technical analysis published on the Site is provided for information purposes only. In no circumstance does it constitute an offer of sale or the solicitation of offers to purchase the securities mentioned. The information contained in these documents has been obtained from reliable sources, but must not be considered exhaustive. The opinions expressed are those of the authors and do not necessarily represent the opinion of EGM.

(iv) Valuations
Valuations available on the Site are prepared by EGM and are published for information purposes only. The contents of such valuations do not constitute and must in no circumstances be considered as an offer, solicitation, advice or recommendation of any kind to purchase or sell any investment or carry out any other transaction. All valuations have been obtained on the valuation date indicated and represent the estimated value of your portfolio. Valuations can vary above or below the levels at which further transactions could be carried out, due to the variable size of the spread between the bid and offer rate. Due to the models or assumptions used to calculate the value of your portfolio, or the date and time of the calculation, valuations can give noticeably different results. In addition, all valuations are liable to change as a result of our transactions in similar or underlying securities or other instruments, and/or can be based on our own prices. EGM expressly disclaims any liability with regard to (i) independent verification of any information obtained to assist with the preparation of these valuations, (ii) the validity of the models and market data processed in such models, (iii) any error or omission in the calculation or distribution of valuations, and (iv) any use made of valuations.

6. ADDITIONAL CONDITIONS APPLICABLE TO THE PRIVATE AREA OF THE SITE

(i) Access to the private area of the Site is protected by a username and password (together referred to as the “Codes”). Every client undertakes to keep these Codes strictly confidential and not to disclose them to any third party. Every client acknowledges that these Codes are personal and must remain so, and undertakes to ensure that they are only used by the client’s duly authorized representatives.

The client must satisfy itself, among other things, that its Codes are stored and used in a way that provides maximum security and confidentiality.

(ii) The client will be solely responsible for the consequences of communicating the Codes to any person of its choice, or of their disclosure (whether deliberate or otherwise) or use by third parties.

The client and EGM expressly agree that any action (such as access to information, etc.) taken on the Site after having accessed it using the Codes will be deemed to have been carried out by the client and with the consent of its duly authorized representative.

(iii) The client is solely responsible for the creation, control, supervision, preservation and use of its Codes. EGM is not bound by any obligation whatsoever with regard to the control or supervision of use of the Codes, and disclaims any liability in the event of improper use thereof. The client undertakes in all cases to inform EGM immediately of any unauthorized disclosure or use of the Codes, of any unauthorized access to the Site or of the necessity to deactivate certain Codes. The client will be solely responsible for the use of any content on the Site and for the disclosure of any information resulting from the use of its Codes.

(iv) In the event that the client should lose or forget its Codes, it may ask the Editorial Manager of the Site to provide them again.

If necessary, the client can also ask the Editorial Manager to suspend access to all the Site's functions.

(v) EGM reserves the right, at any time, to amend the Codes used by the client to access the Site and/or to deactivate them, without prior notice and without limitation, particularly in the event of a of a risk that the security of EGM information system, or that of the Site, might be compromised, or in the event of non-compliance with the terms of these Conditions.

(vi) Recordings made by the Site's computer system while the client is connected will constitute proof of any action taken by the client on the Site and of the way in which such actions were processed.

7. HYPERTEXT LINKS

EGM may provide hypertext links that redirect to certain Internet websites (the “Websites”) sponsored and maintained by third parties. EGM makes no representations with regard to the content of those Websites. The fact that EGM has provided a link to the Site does not constitute an endorsement, authorization, sponsorship, or affiliation by EGM with respect to the Site, its owners, or its providers. EGM has not tested any information, software, or products found on any of the Sites and therefore does not make any representations with respect thereto, including any representations regarding the content or sponsors of the Site, or the suitability or appropriateness of the products or transactions described therein.

EGM is not responsible for hypertext links which redirect to the Site, and it expressly prohibits any person from setting up such links without its prior authorization in writing.

8. DATA PRIVACY – PERSONAL DATA

In accordance with French Law no. 78-17 dated 6 January 1978 as amended, relating to information technology, the formalities required by the Commission Nationale de l'Informatique et des Libertés with regard to the automated processing of personal data obtained through the Site, have been carried out. The “Join us” section has been subject to a declaration under reference number 1231227.

Some of the questionnaires that appear on the Site are not compulsory: you can decide not to fill them in. Some other questionnaires shall be filled in, in order to allow EGM to answer your requests. By ticking the appropriate box in each questionnaire, you allow EGM to transfer your personal data to third parties for commercial prospecting. Furthermore, the data you are required to provide is obligatory in order to identify you and grant you access to the services offered on this Site (page “Join us”). In compliance with French Law no. 78-17 dated 6 January 1978, as amended, relating to information technology, you are granted the right to access and modify to your personal data. You may exercise this right by writing to May Khalil at may.khalil@engie.com.

For counterparties trading through ENGIE Global Markets, Italian Branch, please find the personal data protection information notice as per Italian Legislative Decree no. 196/03, article 13 and its relative complaint form.

Information notice
Complaint Form

9. COOKIES

You acknowledge that we may also place “cookies” on your computer in order to facilitate your browsing. A “cookie” is used to record information relating to your browsing of the Site (pages already displayed, date and time). This can then be accessed by us when you next visit the Site.

If you wish to prevent the storage of cookies, you can alter the setup of your web browser.

In Internet Explorer: in the menu bar, click on “Tools” and then on “Internet Options.” Select the “Security” tab and then click on “Custom level.” On the drop down menu, locate the entry “Allow the storage of cookies on your computer.” You can then choose one of the following options: Enable/Prompt/Disable.

10. OTHER PROVISIONS

Any assignment or other transfer of the rights conferred by these Conditions is strictly prohibited.

In the event any of the terms or provisions of these Conditions shall be held to be unenforceable, the remaining terms and provisions shall be unimpaired. If, for any reason, a competent court should rule that a provision of the Conditions is invalid, the invalidity of that provision shall not affect the validity of the remainder of the Conditions in any way, and they shall remain in force.

The fact that either of the parties may not exercise a right or take legal action pursuant to the terms of the Conditions shall not be considered as a waiver of that right or as an abandonment of any such action.

These Terms and Conditions shall be subject to any other agreements you have entered into with EGM.