TERMS OF USE

PLEASE READ THESE TERMS CAREFULLY BEFORE USING THE SITE. DO NOT USE THE SITE IF YOU DO NOT AGREE TO BE BOUND BY THE TERMS AND CONDITIONS SET FORTH HEREIN. YOUR USE OF THIS SITE CONSTITUTES YOUR IRREVOCABLE ACCEPTANCE TO BE BOUND BY THE TERMS AND CONDITIONS HEREIN.

Welcome to the Capital Fund Management website (the "Site"). Any reference to "CFM," "we," "us" below shall mean Capital Fund Management S.A. and its affiliates. The Site and the information, products, services and other content available on or through the Site (collectively, the "Content") are proprietary to CFM; are protected by copyright, trade secret and other related proprietary rights, including U.S. and international copyright and trademark laws and treaties; and are confidential to the extent password-protected. You agree not to copy for non-personal use, publish, disclose or otherwise distribute to third parties any Content, without receiving prior written consent from CFM.

1. TERMS AND CONDITIONS

Each time you access the Site you agree and indicate that you (i) understand these Terms of Use, (ii) intend these Terms of Use to be the legal equivalent of a signed, written contract and equally binding, and (iii) accept these Terms of Use and agree to be legally bound by them.

2. LICENSE

The Site and the Content are provided by us as a service to you. In order to access and use the Site, you are granted a limited, nonexclusive, revocable and nontransferable license to use the Site, conditioned on your continued compliance with these Terms of Use. You may not modify, copy, distribute, display, reproduce, publish, license, create derivative works, transfer, sell or otherwise use, in any medium, any Content, except you may store Content for your sole personal use and information access.

3. USE OF SITE

The information, products and services described on this Site are not intended for distribution to, or use by, and are in particular not directed to, any person or entity in any jurisdiction or country where such distribution or use would be prohibited or contrary to any law or regulation or would obligate us to comply with any additional law, regulation, registration or similar requirement within such jurisdiction or country.

United States: CFM's strategies are offered only to sophisticated investors who are "qualified eligible persons" as defined by the United States Commodity Futures Trading Commission.

France: This Site may not be entered by any person in France except by persons who can be classified as professional investors in accordance with the rules of the Authorité des Marches Financiérs.

UK: This Site may only be viewed in the United Kingdom by persons who fall within the exemptions contained in the Financial Services and Markets Act 2000 (the "Act"), Order 20001 made under Section 238(6) of the Act or those contained in Rule 3, Annex 5 of the Conduct of Business Rules made by the Financial Services Authority under Section 238(5) of the Act.

The Content on the Site is intended for informational purposes only. We do not provide recommendations, investment advice or any other advice to you, and other than confidential offering documents for specific funds, no information or material at the Site is to be relied upon for the purpose of making or communicating specific investment or other decisions. Nothing on this Site is intended to be, nor should it be construed or used as, financial, legal, tax or investment advice, an opinion of the appropriateness or suitability of any investment, or an offer to buy or sell any security, including an interest in any fund. No such offer or solicitation may be made prior to the delivery of appropriate offering documents to qualified investors. Before making any investment, an investor should thoroughly review the particular investment with a financial, legal and tax advisor to determine whether such investment is suitable in light of the investor's investment objectives, financial and tax situation.

4. PRIVACY POLICY

The terms of the Site's Privacy Policy are hereby incorporated as part of these Terms of Use.

5. SECURITY OF SITE

Actual or attempted unauthorized use of the Site may result in criminal and/or civil prosecution. For your protection, we reserve the right to view, monitor, and record activity on the Site without notice or further permission from you. Any information thus obtained is subject to review by appropriate governmental, regulatory and law enforcement organizations in connection with applicable law, including the investigation or prosecution of possible unlawful activity on the Site.
Users are responsible for maintaining the confidentiality of any user name and password ("login information") we provide you for accessing the password-protected areas of the Site. Users must not share their login information with any third party and are solely responsible for any and all activity that takes place under their login information, whether or not authorized by you. Users agree to notify us immediately (i) in the event of the loss or theft of their login information, (ii) if they believe the confidentiality of their login information has been compromised in any way, or (iii) in the event they learn of the possible or actual unauthorized use of their login information. We reserve the right to revoke a User's login information at any time, for any reason, without prior notice.

6. NO WARRANTIES

The Site and all Content are provided on an "AS IS" and "AS AVAILABLE" basis. We make no, and hereby disclaim all, representations and warranties, expressed or implied, including the accuracy, timeliness, validity or completeness of the information available via the Site and any warranties of fitness for a particular purpose, merchantability or non-infringement. We reserve the right to make unavailable at any time this Site or the Content.

7. LIMITATION OF LIABILITY AND INDEMNITY

UNDER NO CIRCUMSTANCES, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, SHALL CFM OR ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION DIRECT OR INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, THE CONTENT, OMISSION, INTERRUPTION, DEFECT, COMPUTER VIRUS OR SYSTEM FAILURE, EVEN IF CFM, OR REPRESENTATIVES THEREOF, ARE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, LOSSES OR EXPENSES.
AS A CONDITION OF YOUR USE OF THE SITE, YOU AGREE TO INDEMNIFY AND HOLD CFM AND ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS, LOSSES, LIABILITY, COSTS AND EXPENSES (INCLUDING BUT NOT LIMITED TO ATTORNEY'S FEES) ARISING IN CONNECTION WITH YOUR USE OF THE CFM WEBSITE, OR FROM YOUR VIOLATION OF THESE TERMS OF USE.

8. GOVERNING LAW

These Terms of Use have been made in and will be construed and enforced in accordance with the Federal Laws of the United States of America and the internal laws of the state of New York applicable to contracts made and to be performed within the state. Your consent to the jurisdiction and venue of such courts is irrevocable. You waive all defenses of lack of jurisdiction, venue, or forum non-convenience.

9. TERMINATION

We reserve the right at any time in our sole discretion to deny you or any User access to the Site or any portion thereof and to terminate these Terms of Use. Termination of access or these Terms of Use may be effective without notice.
Please click on the Accept button below to access the Site.