QuantNet Terms of Use

Last revised: November 16th, 2018

1. Subject of Terms of Use

1.1. QuantNet LLC – OOO КвантНэт (in the following “QuantNet”, “we” or “us”) , a company registered in the Russian Federation (ОGRI 5177746061840, INN/KPP 7725398536/772501001), provides a web-based platform (in the following “Website”) which enables its users to develop ideas, algorithms, software tools, statistical methods and to write and test trading systems according to Section 3 of these Terms of Use.

1.2. Your access to and use of the Website is regulated by these QuantNet Terms of Use (in the following “Terms”) which govern the relations between QuantNet and each of its users (in the following “you” or “Users”) who accept these Terms by clicking the applicable box or link during the registration process on the Website as explained in Section 2. of these Terms or otherwise acknowledging the acceptance of these Terms through the Website or any other physical or digital medium.

1.3. We may revise, update or amend these Terms from time to time by posting such revisions, updates or amendments to the Website. Your use of the Website after we post such revisions, updates or amendments will constitute your agreement to such revisions, updates or amendments.

1.4. By accessing and using the Website you accept and agree to these Terms. If you do not agree with these Terms, you should not access and use the Website. If you do not wish to be bound by these Terms or if you cannot remain in compliance with such Terms you should immediately cease access to and use of the Website.

2. Registration and Account

2.1. During the registration process on the QuantNet Website you are required to create an account choosing a username and a password. QuantNet has the right but not the obligation to set requirements for username and password (length and valid characters).

2.2. You are entirely responsible for maintaining the security and confidentiality of your account by maintaining secure and confidential your username and password. You are responsible for all activities conducted through your QuantNet account, whether by you or another person or entity. QuantNet is not liable for any damages or losses of any kind that you or any other party may incur as a result of someone else’s use of your account, either with or without your knowledge.

2.3. You agree to immediately notify QuantNet of any unauthorized use of your account or any other breach of security related to your account.

2.4. QuantNet has right to block or delete a user account, as well as to prohibit access to certain services of QuantNet using any account, and to remove any content without giving reasons, including in cases where the User violates these Terms.

3. Services

3.1. QuantNet enables its Users to develop ideas, algorithms, software tools, statistical methods and to write and test trading systems through its Website using tools, resources, infrastructure, testing software provided by QuantNet and open source software. QuantNet provides resources and tools which can be used by the Users to develop and test their trading strategies on assets including but not limited to stocks, futures, ETFs, commodities and other instruments and markets, including access to historical data for such assets.

3.2. The Users can upload their source code for their trading systems (in the following “Systems”) and/or predictions in raw numeric form or in any other format (in the following “Predictions”) and/or their own datasets (in the following “Datasets”) to the Website and QuantNet may automatically backtest the Systems and/or the Predictions and/or use the Datasets on historical data and paper trade the Systems and/or the Predictions and/or use the Datasets using live market data generating a simulated track record for Systems or Predictions.

3.3. QuantNet may generate and publish the simulated track record and other informations related to Systems and/or Predictions, including but not limited to Sharpe ratios, equity curves, underwater charts, long-short bias, allocation to sectors, volatility, performance, position sizes, historical orders, correlation to benchmarks and any other information which QuantNet may in its sole discretion deem appropriate, on the Website and elsewhere.

4. Remuneration

4.1. QuantNet organizes competitions (in the following “Tournaments”) for Systems and/or Predictions, whose detailed description, including but not limited to the kind, the number and/or the liquidity of the assets, the time horizon of the trades, the investment style and/or other filters deemed suitable by QuantNet, will be published on the Website.

4.2. Users have a deadline to submit their System and/or Predictions to Tournaments and each System and/or Prediction deemed eligible is evaluated for a defined period of time and ranked according to a defined metric. The criteria for submission deadlines, eligibility, period of time during which evaluation takes place and ranking metric can be found on the Website.

4.3. Tournaments have a leaderboard which will be published by QuantNet on the Website or elsewhere. QuantNet reserves the right to provide prizes (monetary or in other forms) for the submitted Systems and/or Predictions which prove to be outstanding according to the chosen ranking metric. The leaderboard will change frequently as new Systems and/or Predictions will be uploaded by Users before any instance of a deadline.

4.4. You are responsible for reporting any income and paying any income taxes resulting from your participation to Tournaments

5. Use of the Website

5.1. Users are solely responsible to third parties for their actions related to the use of the Website and the services provided by QuantNet, including the cases when such actions will violate the rights and legitimate interests of third parties, as well as for compliance with the law when using the Website and the services provided by QuantNet.

5.2. When using the Website and the services provided by QuantNet, Users may not:

5.2.1. upload, send, transmit, transfer or in any other way post and/or distribute content which is illegal, harmful, slanderous, offends morality, demonstrates (or is propaganda of) violence and cruelty, promotes hatred and/or discrimination against people racial, ethnic, sexual, religious, social characteristics, contains insults to any person or organization or entity;

5.2.2. impersonate another person or representative of an organization and/or community without sufficient rights, including QuantNet employees, forum moderators, Website owner, and apply any other forms and methods of illegal representation of others on the network, and mislead Users or QuantNet regarding the properties and characteristics of any subjects or objects;

5.2.3. upload, send, transmit, transfer or in any other way post and/or distribute advertising information that is not specifically permitted, spam, lists of e-mail addresses, pyramid schemes, business e-mails, as well as using QuantNet services to participate in these events, or using QuantNet services, solely for redirecting users to pages of other domains;

5.2.4. upload, send, transmit, transfer or in any other way post and/or distribute any materials containing viruses or other computer codes, files or programs intended to violate, destroy or limit the functionality of any computer or telecommunication equipment or programs for unauthorized access as well as for the generation of usernames and passwords for obtaining unauthorized access to sites on the Internet, as well as linking to the above information; obtain or attempt to gain unauthorized access to other computer systems, materials, information or any services available on or through the Website through any means, including through means not intentionally made publicly available or provided for through the Website; engage in spidering, “screen scraping,” “database scraping,” or any other automatic or unauthorized means of accessing, logging-in or registering on the Website, or obtaining lists of users or other information from or through the Website, including any information residing on any server or database connected to the Website;

5.2.5. disrupt the normal operation of the Website and QuantNet services; use the Webite in any manner that could interrupt, damage, disable, overburden or impair the Website or interfere with any other party’s use and enjoyment of the Website, including sending mass unsolicited messages or “flooding” servers with request; attempt (or encourage or support any one else’s attempt) to circumvent, reverse engineer, decrypt, or otherwise alter or interfere with the Webite or the QuantNet services.

6. Third-Party Content

6.1. The Website may contain links to other websites on the Internet (third-party sites). QuantNet does not control, guarantee the accuracy or completeness or legal compliance of the content, data, information or material posted on third-party sites to which Users get access through our Website or the services provided by Quantnet. Users and others who rely on such third-party content rely on the authors and publishers of such content or data at their own risk.

6.2. QuantNet does not endorse or recommend any content, including but not limited to data, information or material posted on third-party sites to which Users get access through our Website or the services provided by Quantnet. Opinions, offers, advices, statements, services or other information expressed or made available by third-party sites to which Users through the Website is that of the respective author or distributor and not of QuantNet.

7. Proprietary Rights

7.1. QuantNet owns, solely and exclusively, all rights, title and interest in and to all content and objects accessible using the Website and the services provided by QuantNet, including but not limited to design elements and organization of the Website, the look and feel, text, graphics, illustrations, videos, photographs, other visuals, audio, music, sounds, software, computer programs, code, data, databases as well as any copyrights, trademark, rights, patent rights and other intellectual property. Your use of the Website does not grant to you ownership of anything you may access on the Website.

7.2. The use of content of the Website, as well as any other elements of the services provided by QuantNet, is possible only within the framework of the functionality offered by a particular service. No elements of the content of QuantNet services, as well as any content hosted on the Website, can be used in any other way without prior permission of QuantNet. Use includes but it is no limited to reproduction, copying, processing, distribution on any basis and display in a frame.

7.3. The trademarks, logos, service marks and trade names (collectively the “Trademarks”) displayed on the Website or on content available through the Website, including QuantNet, are registered and unregistered Trademarks of ours and may not be used in violation of applicable rights. Nothing contained on the Website should be construed as granting, by implication, any license or right to use any Trademark displayed on the Website.

8. Submitted Material

8.1. We use the term “Submitted Material” to mean Systems, Predictions, Datasets, trading systems, code, code segments, data analysis tools, software, data, complete algorithms, partial algorithms, manipulation functions, data transformations, databases, text, graphics, ideas, messages, images, video files, audio files, reviews, comments, communications, creative and academic works, demos, photographs, suggestions, concepts, depictions, methods, designs, plans, techniques, calculations, analyses and any other information and materials which you submit to QuantNet through our Website or any other physical or digital medium.

8.2. Submitted Material will be deemed not to be confidential or secret, and may be used by us in any manner consistent with these Terms.

8.3. You will not assert against us any rights to have the Submitted Materials removed, edited, modified, published, transmitted or displayed in any manner. Furthermore, you grant us a royalty-free, unrestricted, worldwide, perpetual, irrevocable, non-exclusive and fully transferable, assignable and sublicensable right and license to use, copy, modify, adapt, publish, translate, create derivative works based upon, distribute, perform, display, make, sell and export such material (in whole or part) and to incorporate it into other works in any form, media, or technology now known or later developed (including any websites owned or operated by us).

8.4. We cannot be responsible for maintaining any Submitted Material that you provide or submit to us, and we may delete or destroy any such Submitted Material at any time.

8.5. Users acknowledge and agree that the technology of the services may require copying (reproducing) User's content by QuantNet, as well as processing it by QuantNet to meet the technical requirements of a particular service.

8.6. Users acknowledge and agree that QuantNet is not under obligation to review any content posted and/or distributed by the User through QuantNet.

9. Limitation of Liability

9.1. Users use the Website and QuantNet services at their own risk. Services are provided "as they are". QuantNet does not assume any responsibility, including for the compliance of the services with the objectives of Users.

9.2. QuantNet does not guarantee that: the services will meet the requirements of Users, that Services will be provided continuously, quickly, reliably and without errors, that the results that can be obtained using the services will be accurate and reliable and can be used for any purpose or in any capacity (for example, to establish and/or confirm any facts), and that the quality of any product, service and information obtained using the services will meet the expectations of the Users.

9.3. Any information and/or materials (including downloadable software, letters, any instructions and guidelines for action, etc.) that the User gains access using QuantNet services, may be used by the Users at their own peril and risk. Users are solely responsible for the possible consequences of using the specified information and/or materials, including for the damage that this may cause to the computer of the User or to third parties, for data loss or any other damage.

9.4. QuantNet does not provide you or other Users with investment, financial, accounting, tax or legal advice. Under no circumstances should any information presented here be used or construed as an offer, or solicitation to any offer, or other form of invitation or inducement, to sell or buy any securities or other investments, or to provide advice regarding investments or a recommendation to purchase, sell or hold any security or other investment, or to purse any investment style or strategy. We do not give any advice or make any representations through the Website as to whether any security, strategy or investment is suitable to you or will be profitable.

9.5. QuantNet is not a broker dealer and does not recommend or endorse any broker. Any broker with whom a User or other person or entity maintains an account is solely responsible for its own services. QuantNet is not liable for any damages or losses of any kind related to any broker’s service.

10. Other Provisions

10.1. These Terms are a contract between the User and QuantNet regarding the use of services and supersede all previous agreements between the User and QuantNet.

10.2. These Terms are governed and interpreted in accordance with the legislation of the Russian Federation. Issues not regulated by these Terms shall be settled in accordance with the legislation of the Russian Federation. All possible disputes arising from relations governed by these Terms shall be resolved in the manner prescribed by the current legislation of the Russian Federation, according to the norms of Russian law. Everywhere in the text of this Agreement, unless explicitly stated otherwise, the term “legislation” mean the legislation of the Russian Federation.

10.3. In view of the gratuitousness of the services provided under this Agreement, the rules on consumer protection stipulated by the legislation of the Russian Federation cannot be applicable to the relationship between the User and QuantNet.

10.4. Nothing in these Terms can be interpreted as agency, partnership, mutual activities, employment or any other relations not directly stated in these Terms.

10.5. If for one reason or another one or more of the provisions of these Terms will be declared invalid or unenforceable, this will not affect the validity or applicability of the remaining provisions of the Terms.

10.6. Inaction on the part of QuantNet in the event of a violation by the Users of the provisions of the Terms does not deprive QuantNet of the right to take appropriate actions in defense of its interests later, nor does it mean that QuantNet renounces its rights in the event of subsequent similar or similar violations.

10.7. These Terms are drawn up in English and Russian. In case of discrepancy between the Russian version of these Terms and the version of these Terms in another language, the provisions of the Russian version of these Terms shall apply.