Terms and conditions

1- Intraday trading systems basket

Please remember:
We are not seeking for a lot of customers.

We are looking for well capitalized investors, and we prefer a few able to work with us on a long term basis and mutually rewarding perspective rather than anything else.

Once our target hit, this service could be closed to new candidates without advice.

This service must be seen as a two steps process:

1.1 First step

One time startup fee for development, test and setting up.

	Minimum order for trading 50 items.
	Includes test on unseen data, basket Portfolio Report and TradeStation 2000i ready to use protected code.
	The trading system basket will be unique and never be used by anyone else than your company.
	The target ( net profit, return on account, max drawdown) , the traded supports must be defined before ordering.
	Usually, our intraday systems are stop and reverse (always in the market), keep overnight positions, can be flat during week end ( recommended).

	Initial Price 70, 000 € per 50 items futures basket or 100 items stocks basket. ( minimum order) Discounted price for more items / baskets.
	Conditions: 40% when ordering, 60% at delivery Includes unlimited technical support as long as the systems are traded. Improvements to the current systems are free of charge. Not refundable. Initial Price will be fully deducted from the performance license fee during step 2

This service will need one month of development and test starting from your paid order.

Only written question from official representative or agreed by your company will be answered.

1.2 Second step

Performance fee agreement ( this is our license fee), will be based either on :

	Percentage fee on net profit
	Percentage fee on net profit with minimum threshold and increasing percentage above the threshold
	Percentage fee like above, also indexed on capital involved in trading
	Fixed fee, based on the amount of capital traded, regardless the results.
	All of these solution must be discussed and should be a part of a written agreement between the two contracting parties
	In any case, we do not accept trading accounts with our systems involving less than 1 000 000 €, really fully traded, excepted within a 90 trial period.
	The agreement must be signed before the end of the 90 days trial period.
	The price paid for step 1 will be deducted from the license fee amount due, after the 90 days trial period, according to the terms of the agreement
	License fee must be paid on a monthly basis.

Futures markets: You must provide at a minimum 2* Max Drawdown (+ deposit) per item, actualized to the current value of the traded item.
For example, if the historical drawdown was 400 points when the considered traded item price was 1000, your must provide 800 points per item traded at a 1000 value.
If the item then trades at 3000, then the amount of money to provide to follow the system will be 2400 points. This amount is calculated by the system.
If you want to trade the global portfolio itself, it's advisable to keep the same kind of calculation with the global portfolio, and use 3*Max drawdown actualized instead of 2, at least

Termination: Any system that individually lose more than the above amount will be discarded from the portfolio, and replaced by a new one (This is virtually impossible).
Termination under specific condition: must be discussed when establishing the agreement.
Improvements: Any new system that produces better results under the same condition than the original one will be proposed as a replacement at no cost.
Does not includes anything excepted what's above in section 1 (see the technical specification page for this service, any other not mentioned is at your expenses)

2- Order placement automation software

	Development, test and setting up as a one time start up fee. Price: Call
	Maintenance :15% of the above, yearly
	Conditions: 45% when ordering, 55% at delivery Includes technical support as long as the systems are traded. Improvements to the current software are free of charge, unless major rewriting due to unexpected FIX protocol changes.

Does not includes anything excepted what's above in section 2 (see the technical specifications page for this service, any other not mentioned is at your expenses)

This service will need three months of development and test starting from your paid order.

	Item traded
	An item is one system running on one support. The same system running on 10 supports means 10 items. Ten systems dedicated to one support is also considered as 10 items. We do not provide more than 10 systems for 50 items, to avoid any kind of over fitting.

	Intraday pick list
	High volume stocks (NASDAQ, NYSE) Index futures, worldwide Commodities Forex