Interactive Brokers Trading from India Contest Participation Agreement
- Participant Agreement: This Agreement governs Participant’s participation in the Contest sponsored by Interactive Brokers Group LLC ("IB” or “Interactive Brokers"). Participant agrees to monitor the IB website at http://www.interactivebrokers.com/indianContest for information relating to the Contest. To the extent that this Agreement varies from any material provided on the IB website, this Agreement controls. IB may modify this Agreement by providing Participant with notice by e-mail. If Participant does not consent to such modifications, Participant must promptly notify IB by e-mail to email@example.com and promptly cease participation in the Contest. Participant’s continued participation after IB has provided such e-mail notice constitutes acceptance of the terms and conditions of the revised Agreement. IB's Trading from India Contest Support Personnel is not authorized to amend or waive the terms of this Agreement in any respect.
- Responsibility for Orders and Trades: Participant understands that IB is unable to know whether someone other than Participant has entered, or is entering, orders using Participant’s user name and password. Participant will not permit any other person to have access to Participant’s account for any purpose. Participant shall be responsible for the confidentiality and use of, and any Participant orders entered with, Participant’s user name and password. Participant agrees to report any loss or theft of Participant’s user name or password, or any unauthorized access to Participant’s account, immediately by e-mail to firstname.lastname@example.org. Participant will remain responsible for all orders entered using Participant’s user name and password.
- Contest Terms and Trading Rules: Participant understands and agrees to fully abide by the following rules and terms that govern the Contest:
- Entry in the Contest is only one per individual. Only Indian residents over the age of 21 years old can apply*. Participation in the Contest is void where prohibited by law.
- All trades must be made utilizing Interactive Brokers' trading platforms. All algorithms must be planned, designed and written solely by the Participant participating in the Contest.
- Participant represents and warrants to Interactive Brokers that Participant’s submission is his or her own work and does not infringe upon or plagiarize the work or intellectual property rights of any third party. Participant grants to Interactive Brokers a royalty-free, transferable, perpetual license to use Participant’s submission, including all intellectual property contained therein and all trading data associated therewith, for any and all purposes.
- Participant’s account will be credited with $1,000,000 in phantom money at the beginning of the competition and Participant may make as many trades as desired over the course of the contest. At least 10 trades must be made during the competition. IB’s standard commissions and market data fees will be debited from the account. Corporate actions and dividends will be applied. Participants may trade any combination of US and European stocks, options, futures and futures options that are available from Interactive Brokers. Trade executions will be simulated based on actual real-time quotes and size in the markets. The change in account equity will be used to determine the ranking of each individual Participant. Only the top 10 contestants with largest profits will be awarded prizes.
- No live help desk support will be provided. Participants can use Interactive Brokers’ reference materials at http://www.interactivebrokers.com/indianContest to answer questions. Problems sent to email@example.com will be answered as appropriate.
- Apple iPads** will be awarded as prizes to the individual winners and may not be shared by them with others. Prize winners are solely responsible for all federal, state and local taxes associated with the receipt of any prize, and they shall provide Interactive Brokers with all information it requires to assure appropriate payment.
- Participant consents to the use by Interactive Brokers and its agents of Participant’s name and likeness for publicity, advertising, trade or promotional purposes in any media or manner, without further payment, consideration, notice or approval if such participant is awarded a prize.
- Participant hereby releases and agrees to release, indemnify and hold harmless Interactive Brokers and its officers, directors, employees, agents, clients, affiliates, subsidiaries, successors and assigns and any other persons associated with the Contest from any liability, loss, costs or damages to Participant or any person or entity, including without limitation damage to computer hardware or software caused in whole or in part, directly or indirectly, by participation in the Contest (or related activities) or the awarding of a prize.
- Interactive Brokers is not responsible for any incorrect or inaccurate information, or failure or delay in providing information associated with the Contest. Interactive Brokers is not responsible for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorized access to, or alteration of, Contest entries and participation. Interactive Brokers is not responsible for any problems or technical malfunction of any telephone network or lines, computer online-systems, servers or providers, computer equipment, software, failure of email or players due to technical problems or traffic congestion on the Internet or at any website or combination thereof, including injury or damage to Participant’s or to any other person's computer related to or resulting from downloading materials in any application.
- Interactive Brokers is not responsible for any cheating or fraud by any participant.
- If, for any reason, the Contest is not capable of being executed as planned, including without limitation infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes that corrupt or affect the administration, security, fairness, integrity or proper conduct of the Contest, Interactive Brokers reserves the right, at its sole discretion, to cancel, terminate, modify or suspend the competition without notice. The decisions of Interactive Brokers in regard to any and all matters relating to the Contest, including without limitation, satisfaction of eligibility and participation requirements and the selection of winners, shall be final and bind Participant and all parties that may derive rights from Participant’s participation therein.
- Participant Qualification: Participant acknowledges that: the Account Application submitted by Participant is incorporated by reference and made a material part of this Participant Agreement, and that all of the information contained in the Participant’s account application materials is true and complete. Participant agrees to disclose to IB any change in any information provided by Participant including, but not limited to, any change in the information that supports Participant’s eligibility to participate in the Contest.
- Price Quotations, Market Information, Research and Internet Links: Price quotations, market information, news, research and other information accessible through the IB website or other IB services or facilities ("Information") may be prepared by IB or third-party information providers ("Providers"). Neither IB nor the Providers guarantee the accuracy, timeliness, or completeness of the Information. RELIANCE ON QUOTES, DATA OR OTHER INFORMATION IS AT PARTICIPANT’S OWN RISK. IN NO EVENT WILL IB OR THE PROVIDERS BE LIABLE BY REASON OF USE OF THE INFORMATION. THERE IS NO WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, REGARDING THE INFORMATION, INCLUDING WARRANTY OF MERCHANTIBILITY, WARRANTY OF FITNESS FOR A PARTICULAR USE, OR WARRANTY OF NON-INFRINGEMENT. The Information is the property of IB, the Providers or their licensors and is protected by applicable copyright law. Participant agrees not to reproduce, re-transmit, disseminate, sell, distribute, publish, broadcast, circulate or commercially exploit the Information in any manner without the express written consent of IB or the Providers. IB reserves the right to terminate access to the Information. Links to outside websites are provided for the convenience of Participants and IB does not guarantee or warrant the accuracy, timeliness or completeness of any information provided on such websites.
- License to Use IB Software and Related Restrictions: IB grants to Participant and Participant accepts a non-exclusive and non-transferable license to use IB's proprietary software to communicate with the IB System ("IB Software"), solely as provided herein. Title to the IB Software shall remain the sole property of IB, including without limitation, all applicable rights to patents, copyrights and trademarks. Participant shall secure and protect the IB Software in a manner consistent with the maintenance of IB's ownership and rights therein and shall not sell, exchange, or otherwise transfer the IB Software to others. Participant shall not copy, modify, translate, decompile, reverse engineer, disassemble or otherwise reduce to a human readable form, or adapt, the IB Software or use it to create a derivative work, unless authorized in writing to do so by an officer of IB and confirmed by IB's Secretary. Any updates, replacements, revisions, enhancements, additions or conversions to the IB Software supplied to Participant by IB shall become subject to this Agreement. IB shall be entitled to obtain immediate injunctive relief against threatened breaches of the foregoing undertakings without the necessity of proving irreparable injury.
- LIMITATION OF RESPONSIBILITY: PARTICIPANT ACCEPTS THE IB SYSTEM "AS IS", AND WITHOUT WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR USE, PURPOSE OR APPLICATION; TIMELINESS; FREEDOM FROM INTERRUPTION; OR ANY IMPLIED WARRANTIES ARISING FROM TRADE USAGE, COURSE OF DEALING OR COURSE OF PERFORMANCE. UNDER NO CIRCUMSTANCES SHALL IB BE RESPONSIBLE FOR ANY DELAYS OR INTERRUPTIONS OF SERVICE OR TRANSMISSIONS, OR FAILURES OF PERFORMANCE OF THE IB SYSTEM, REGARDLESS OF CAUSE, INCLUDING, BUT NOT LIMITED TO, THOSE CAUSED BY HARDWARE OR SOFTWARE MALFUNCTION OR INTERRUPTIONS IN THE USE OF THE IB SYSTEM, INCLUDING, FOR EXAMPLE, THOSE CAUSED INTENTIONALLY BY IB FOR PURPOSES OF SERVICING THE IB SYSTEM.
- Miscellaneous: This Agreement contains the entire agreement of the parties; and IB has made no representations or warranties, and Participant has not relied on, or been otherwise induced by, any matter not expressly provided herein. Participant agrees to the provision of this Agreement in English, and represents that Participant understands all of its terms and conditions. If any provision of this Agreement is deemed unenforceable, such provision shall be ineffective only to the extent of such unenforceability, without invalidating the remaining provisions of this Agreement. The failure of IB to enforce, at any time or for any period, any one or more of the terms or conditions of this Agreement shall not constitute a waiver of such terms or conditions or their enforceability. IB is authorized to record all telephone conversations with Participant. IB may discontinue providing services to Participant and may terminate this Agreement at any time. This Agreement shall inure to the benefit of IB's successors and assigns and binds Participant’s successors and assigns. Only Participant may enforce this Agreement, and Participant may not assign or transfer any rights or obligations hereunder without the prior written consent of IB. This Agreement is governed by the laws of the State of Connecticut, without giving effect to conflict of laws provisions. The courts of Connecticut shall have exclusive jurisdiction over all disputes relating to or arising from the execution or performance of this Agreement.
*An Indian resident is defined as a person who resides in India for more than 182 days per year.
**Apple iPad is a trademark of Apple Inc., registered in the U.S. and other countries.