TERMS AND CONDITIONS OF USE

Thank you for visiting PicoTrading.com.  This site, and the information, data and content contained herein (collectively, the “Website”) are provided to you by PQT℠.  For purposes of these Terms and Conditions of Use, PQT℠ shall mean Pico Quantitative Trading LLC and its affiliates, and its and their respective managing members, partners, directors, officers, employees and contractors.

Please read this agreement carefully.  Your access and use of the Website is governed by these terms and conditions:

Any heading, caption or section title is inserted only as a matter of convenience and in no way defines or explains any section or provision hereof.

Ownership and Intellectual Property Rights

PQT℠ owns or licenses all text, graphics, user interfaces, visual interfaces, photographs and artwork contained in the Website, and the design, structure, selection, coordination, expression and arrangement thereof. PQT℠, in conjunction with the licensors whose software was used to develop the Website or whose content appears on the Website (together, the “Third Party Licensors”), are the owners of all intellectual property rights associated with the Website including, without limitation, copyrights, trademarks, service marks, trade dress, patents, patent applications and trade secrets and all other proprietary rights. You acknowledge the ownership and associated rights of PQT℠ and any Third Party Licensors and agree that, by accessing and using the Website you do not acquire any right, title or interest of any kind in or to the Website or any intellectual property rights associated therewith.

Restrictions on Use of Website

You may download, display, reformat, print and store copies of the Website pages for your own personal, non-commercial useprovided thatyou do not modify or alter the Website in any manner, nor delete, obscure or change any copyright, trademark or other notice. You may not copy, publish, distribute, transmit, disseminate, sell, make derivative works or otherwise reproduce, in while or in part, any of the information, data or content provided on the Website without the prior written consent of PQT℠.  All rights not expressly granted to you by PQT℠ hereunder are hereby reserved by PQT℠.

Changes to Website/Terms and Conditions of Use

PQT℠ and the Third Party Licensors reserve the right, at any time and from time to time, to add, modify, or remove any of the: (a) information, data or content on the Website, or its availability, or (b) these Terms and Conditions of Use. Any changes to these Terms and Conditions of Use will be binding and effective immediately upon posting on this Website and your access to and use of this Website thereafter shall constitute your acceptance of any such changed terms.

Termination

PQT℠ reserves the right to terminate your access to the Website in its sole discretion without written notice.

User Data You can generally browse the Website without providing any personal information. If you do choose to enter your contact information on the “Contact Us” tab, we will contact you to provide you with information we believe may be useful to you based upon your inquiry. At no time will PQT℠ sell or broker any of the information we receive from you to any third parties.

NO WARRANTY

THIS WEBSITE IS PROVIDED “AS IS” BY PQT℠ AND PQT℠ MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT THERETO. PQT℠ DISCLAIMS ALL IMPLIED WARRANTIES TO THE FULLEST EXTENT PERMISSIBLE UNDER LAW, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT, AND DOES NOT REPRESENT OR WARRANT: (I) THAT THE INFORMATION, DATA OR CONTENT WILL MEET YOUR SPECIFIC REQUIREMENTS OR IS TIMELY, CORRECT, ADEQUATE, ACCURATE OR COMPLETE; OR (II) THE AVAILABILITY OF THE WEBSITE OR THAT YOUR USE WILL BE UNINTERRUPTED, SECURE, OR ERROR-FREE. PQT℠ HAS NO RESPONSIBILITY TO MAKE CORRECTIONS OR UPDATES TO THE INFORMATION, DATA OR CONTENT ON THE WEBSITE. YOUR USE OR RELIANCE ON THE WEBSITE IS SOLELY WITHIN YOUR DISCRETION AND AT YOUR RISK, AND YOU WILL BE SOLELYRESPONSIBLE FOR ANY DAMAGE OR LOSS THAT RESULTS THEREFROM.

IT IS EXPRESSLY UNDERSTOOD THAT THE INFORMATION, DATA AND CONTENT OF THE WEBSITE IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY, AND IS NOT INTENDED TO PROVIDE LEGAL, TAX, INVESTMENT OR ACCOUNTING ADVICE, NOR SHOULD IT BE CONSTRUED AS A RECOMMENDATION, OR AN OFFER TO BUY OR SELL, OR THE SOLICITATION OF AN OFFER TO BUY OR SELL ANY SECURITY, FINANCIAL PRODUCT OR INSTRUMENT OR TO PARTICIPATE IN ANY TRADING STRATEGY. NO DETERMINATION OF YOUR SUITABILITY FOR OR THE APPROPRIATENESS OF ANY SERVICE PROVIDED BY PQT℠ HAS BEEN MADE.

LIMITATION OF LIABILITY

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, PQT℠ SHALL HAVE NO LIABILITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES (EVEN IF PQT℠ HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), OR OTHER LOSSES, COSTS OR EXPENSES, WHETHER IN CONTRACT, TORT, NEGLIGENCE OR OTHERWISE, ARISING OUT OF OR RELATING IN ANY WAY TO THE WEBSITE, OR ANY ERRORS OR OMISSIONS THEREIN, OR YOUR USE OF, OR INABILITY TO USE, OR RELIANCE ON, THE WEBSITE. YOUR SOLE REMEDY FOR DISSATISFACTION WITH THE WEBSITE IS TO STOP USING THE WEBSITE.

IN THE EVENT THAT THE WARRANTY DISCLAIMER OR LIMITATION OF LIABILITY IS HELD TO BE INVALID OR UNENFORCEABLE, OR IF PQT℠ IS HELD LIABLE TO YOU FOR ANY REASON, YOU AGREE THAT THE MAXIMUM CUMULATIVE AGGREGATE LIABILITY OF PQT℠ TO YOU FOR ALL DAMAGES, LOSSES, COSTS OR EXPENSES AT ANY TIME SHALL BE THE AMOUNT PAID BY YOU TO PQT℠ SPECIFICALLY FOR YOUR ACCESS TO AND USE OF THE WEBSITE FOR THE PRIOR THREE (3) MONTH PERIOD.

Indemnity

You agree to indemnify, defend and hold harmless PQT℠ from and against any and all losses, liabilities, damages, costs or expenses, including reasonable attorneys’ fees, arising out of or related to: (a) your access to, use of, or inability to use the Website; (b) your breach or violation of any term, condition, representation or warranty contained herein; and (c) your violation of any applicable laws, rules or regulations including, without limitation, any federal or state securities laws or regulations, or any other person’s rights, including but not limited to infringement of any intellectual property, proprietary, or privacy right of any third party.

Third Party Content/ Links to Other Websites

PQT℠ may include content form Third Party Licensors (“Third Party Content”) and/or hyperlinks to third parties’ Internet sites (“Hyperlinked Sites”) on the Website either for your convenience or as required by applicable law, rule or regulation or by a Third Party Licensor.  PQT℠ makes no representation with respect to the information, data or content contained in the Third Party Content or on such Hyperlinked Sites, nor any endorsement of such third parties or their products or services. PQT℠ has no control over the Third Party Content or Hyperlinked Sites nor has PQT℠ reviewed or approved them. Your use of the Third Party Content and/or Hyperlinked Sites is solely at your own risk and PQT℠ has no responsibility or liability to you or any third party vis-à-vis the Third Party Content or Hyperlinked Sites, in particular, without limitation, the timeliness, adequacy, accuracy, or completeness of the information, data or content, or any opinions expressed therein.

You specifically agree to be bound by Google’s Terms of Use with respect to your use of the embedded Google Maps.  Google’s Terms of Use may be found at: http://www.google.com/intl/en_us/help/terms_maps.html.

Governing Law

These Terms and Conditions of Use, your rights and obligations, and all actions herein contemplated shall be governed by the laws of the United States of America and the State of New York.  You hereby consent to exclusive jurisdiction and venue in the federal and state courts located in New York, New York for all matters connected herewith.