Terms of Service

1. About these terms

PM.finance (the "platform") is operated by PM LABS PTE. LTD. (the "company", "we"). The platform provides software and information services for quantitative strategies: generating and backtesting strategies, rating and de-identified display, strategy contests, and — where the conditions are met — live deployment and access to funding.

Some features carry their own rules, published alongside the feature: the Privacy Policy, the rules published for each contest, the listing and display rules, and the project agreement for each funded project. Those documents are incorporated into these terms by reference and form part of them.

These terms set out the legally binding conditions on which you use the platform. By registering an account and ticking to accept, or by using the platform in any way, you accept these terms — in your own name, or in the name of the organisation you represent. You represent that you have the right, authority and capacity to enter into them, and, where you act for an organisation, that the organisation has authorised you to do so. If you do not agree with any part of them, do not use the platform.

Please note the provisions that affect your rights: not investment advice (7.1), refunds (4.3), who holds the assets (5.3), disclaimers and limitation of liability (section 7), indemnity (section 8), the precedence of separate rules (section 5), and governing law and jurisdiction (section 12).

2. Accounts

2.1 Opening an account

Some features require an account. You can register and sign in with an email address and password, a third-party account (Google / GitHub) or a digital wallet address. You represent and warrant that (a) the registration details you submit are true, accurate and complete, and (b) you will keep them up to date. You may close your account at any time by following the instructions on the platform; we may suspend or terminate it as set out in "Suspension and termination".

2.2 Your responsibilities

You are responsible for keeping your credentials safe and for everything that happens under your account. Actions taken through your account are treated as your own unless you can show they were caused by the platform. If your account is taken over, appears to have been used without your authorisation, or is otherwise at risk, tell us immediately at app@pm.finance. We are not liable for losses caused by your failure to meet these responsibilities.

We will never ask you for your password, wallet private key or recovery phrase through any channel.

2.3 Identity verification

For some features — awarding prizes and money-related flows among them — we may require you to complete identity verification and to submit documents and supporting materials. Where you decline or do not pass, we may restrict the corresponding features.

2.4 Long-inactive accounts

Where an account has had no sign-in or use for 24 consecutive months and we cannot reach you, we may close it after giving notice to your registered email address. Once closed, its points and entitlements are not retained; any amount owed to you is dealt with under applicable law.

3. Using the platform

3.1 Licence

Provided you comply with these terms, we grant you a limited, non-exclusive, non-transferable, non-sublicensable, revocable licence to access and use the platform for your own internal use, or that of the organisation you represent. The licence transfers no ownership. Later versions, updates and new features of the platform are equally subject to these terms.

3.2 What you must not do

You must not:

• licence, sell, rent, transfer or otherwise commercially resell the platform or any content shown on it;
• register or control multiple accounts to get around usage limits;
• modify, translate, create derivative works from, disassemble, decompile or reverse-engineer any part of the platform, including its source code, underlying methods, algorithms and interface protocols;
• use data, content or non-public information obtained from the platform to build a product or service that competes with it; a tool you develop independently, without using that material, is not caught by this clause;
• scrape, copy, republish or transmit any part of the platform in bulk by automated means, or circumvent rate limits, access controls and de-identification mechanisms;
• use the platform's content (excluding content you created yourself) to train third-party models;
• attempt to identify the real person behind a de-identified display;
• manipulate the leaderboard or rating results, including by falsifying performance, inflating activity, colluding or exploiting defects in the system;
• upload content containing malicious code, infringing the rights of others, or otherwise unlawful;
• interfere with the operation of the platform or probe it for vulnerabilities (responsible security disclosure excepted — please contact us at app@pm.finance);
• use the service for money laundering, sanctions evasion or any other unlawful purpose.

3.3 No solicitation

Without our written permission, you must not solicit or recruit other users of the platform, including strategy providers and contest entrants, for any reason. That includes soliciting them to become users of a competing platform or service, and soliciting strategy providers to publish their strategies, models, parameters or methods on any service or platform other than this one. Where you breach this clause we may terminate your account without prior notice and pursue the losses caused.

3.4 Changes and interruptions

We may add, adjust, suspend or withdraw all or part of the platform at any time; where a material adjustment affects paid entitlements, we will give notice in advance. We work to keep the service available, but we do not promise it will be uninterrupted or error-free; planned maintenance will be announced ahead of time where we can.

3.5 No support or maintenance

We are under no obligation to provide you with support or maintenance for the platform. The technical support and customer service we do provide are voluntary, do not become obligations under these terms, and do not become binding practice by being provided consistently.

3.6 Our rights

The platform's software, interfaces, rating methodology, documentation and marks belong to us or to the respective rights holders. These terms transfer none of those rights to you.

4. Payment, points and tax

4.1 Tiers and billing

Membership comes in a free tier and paid tiers. Prices, entitlements and billing periods are as shown on the subscription page.

4.2 What points are

Points are the platform's internal unit of compute, used to meet the cost of conversations, strategy generation, backtests, optimisation and reports. Points:

• are not money, not virtual currency, and have no value in legal tender;
• cannot be transferred, withdrawn or moved between accounts;
• are granted per subscription period. Points unused at the end of a period do not carry over; the allowance is recalculated for the new period according to the tier you hold at that time;
• may, where granted as a reward through a contest or similar activity, carry their own expiry, as stated when they are granted.

4.3 Payment and refunds

• Fees already paid are not refundable, except where the law that applies to you provides otherwise on a mandatory basis.
• You may cancel at any time. After cancellation the subscription does not renew; the period you have already paid for runs to its end and you can keep using the service until then.
• Where you upgrade to a higher tier mid-period, the unused part of that period is credited against the cost of the change.
• We may still refund at our discretion in individual cases. Having refunded once does not oblige us to do so again.
• Prices and the available payment methods are as shown on the subscription page.

4.4 Usage limits

Each tier has usage limits, as shown on the subscription page; once a limit is reached, the corresponding operation is refused.

4.5 Set-off of what you owe and of what was not yours

Where you owe us an amount that is due, or have obtained rewards or points you were not entitled to through cheating, exploiting a defect or a system error, we may (a) deduct the corresponding amount from what we owe you, and (b) reverse or claw back the corresponding points and rewards. We will tell you the reason and the amount within a reasonable time. Where a deduction does not cover it, you must make up the difference and bear the reasonable costs we incur in recovery.

4.6 Tax

Tax arising from your use of the platform, from a contest prize or from investment returns is yours to declare and pay. We do not calculate, assess or file it for you, and we do not give tax advice. Where the law requires us to withhold or to report to a tax authority, we will do so. Before a prize is paid we may require you to provide the necessary tax information; without it, the payment may not be possible.

5. Strategies: contests, listing and live trading

5.1 Strategy contests

Eligibility, schedule, scoring, prizes and how they are awarded are governed by the rules published for each contest; where those rules conflict with these terms, the rules prevail for that contest. Cheating and rewards that were not yours are dealt with under 4.5; identity verification before a prize is paid is covered by 2.3.

5.2 Listing and public display

• A strategy listed publicly is shown under a pseudonym, not your real name or your organisation's. The fields shown publicly are set out in "What is published about a strategy" in the Privacy Policy; we do not publish your strategy source code, parameters, individual fills or live positions. A party funding your strategy can, however, see that project's positions and recent fills for as long as the project runs.
• Listing and display are governed by the rules we publish; where those rules conflict with these terms, the rules prevail on listing and display.
• Where a strategy involves falsified performance, breaches these terms, or meets any other ground for removal under those rules, we may withdraw its public display.

5.3 Live trading and funded projects

• A strategy that qualifies may go into live deployment or receive funding from a capital provider. Whether it qualifies is for us to determine against the published criteria.
• In live trading and funded projects, custody of assets and movement of funds are carried out by the clearing and custody partner we work with, not held or kept by the platform. For that purpose we will open and link an account for you with that partner; the partner's own terms apply to its service. This does not release us from our own obligations under these terms, but we are not responsible for that partner's conduct, system availability or solvency.
• Each funded project has its own project agreement setting out the specific conditions; where that agreement conflicts with these terms, it prevails for that project.
• Prices of digital assets and their derivatives are highly volatile and can result in the loss of the entire principal. Profits and losses from live trading are borne by the owner of the funds; past performance and ratings do not indicate future results.
• By taking part in live deployment or a funded project, you confirm that you understand the risks of trading a quantitative strategy live, that you have the risk tolerance, knowledge and experience for it, and that you have made your decision independently on the basis of your own circumstances.

6. Content and intellectual property

6.1 Your content

The strategy code, parameters and descriptions you upload or generate in the workbench belong to you or to the original rights holder. The intellectual property in a strategy is entirely yours; the platform claims no ownership of it at any time.

6.2 The licence you grant us

To the extent necessary to provide the service — storage, execution, backtesting, scoring, de-identified display and contest ranking among them — you grant us a non-exclusive, royalty-free licence to use it. The licence ends within a reasonable period after you delete the content or close your account, except for records we must retain under the law or under contest rules.

6.3 Strategy confidentiality

• Code is private by default and platform staff have no right to view it.
• Where access is genuinely required to investigate a technical problem, your express authorisation must be obtained in advance. Access is limited to what the investigation requires and is recorded in the audit log; you may refuse, and refusing may mean we cannot locate the problem.
• Two things you should know: when you use the AI strategy workbench, your conversation and strategy content are sent to the large-model service that provides inference for the platform in order to generate replies (see "AI processing" in the Privacy Policy); and in a contest, judges can see your strategy's name and version number, without its code or parameters.

6.4 Infringement complaints and counter-notices

If you believe anything on the platform infringes your intellectual property or other rights, tell us at app@pm.finance as soon as you can, and provide:

1. the signature of the rights holder or their authorised representative (physical or electronic);
2. the work or right you say has been infringed;
3. the content complained of, and enough information for us to locate it;
4. your contact details, including your name, postal address and email address;
5. a statement that you believe in good faith that the use is not authorised by the rights holder, its agent or the law;
6. a statement that the information in your notice is true and accurate, and that you are entitled to act on behalf of the rights holder.

We may remove content alleged to be infringing or otherwise unlawful at our own discretion and without prior notice. Where appropriate we will also terminate a user's account — for example where the user is found to be a repeat infringer.

A party whose content has been removed may submit a counter-notice to the same address, setting out the grounds on which they are entitled to use it. We will pass the counter-notice to the complainant; until the two sides agree or the matter is resolved through legal channels, we may keep the content removed.

7. Disclaimers and limitation of liability

7.1 Not investment advice

• We are a software and information service provider. We are not a broker and not an investment adviser. Ratings, rankings and AI-generated content on the platform are not a recommendation or an offer to buy or sell any financial instrument.
• The ratings, backtests, optimisation results, AI-generated content and leaderboard information the platform provides are analytical tools based on historical data and models. They do not constitute, and must not be understood as, investment advice, an offer, or a promise of returns.
• Backtest and simulated trading results do not represent real trading results. Real trading is affected by slippage, market depth, fees, latency and interruptions in market data.
• AI-generated strategy code and text may contain errors or omissions, or be unsuited to your circumstances; you must review and verify it yourself before use.

7.2 Third-party services

The platform uses third-party services for identity verification, payment, email delivery and similar functions. Those services are provided independently by third parties and their availability and conduct are not entirely within our control. The categories of third party and how data is handled are set out in the Privacy Policy.

7.3 Disclaimer

To the maximum extent permitted by law:

• There is no fiduciary duty between us and you, and no other special relationship of trust. We provide tools and information services; we do not make investment judgements on your behalf.
• The platform and all of its content and services are provided "as is" and "as available". We make no warranty, express or implied, including the implied warranties of merchantability, fitness for a particular purpose, accuracy and non-infringement.
• We do not warrant that the platform will meet your particular requirements, nor that it will run uninterrupted or error-free. We make no representation, warranty or promise as to any particular outcome from using it.
• We have no control over, and no obligation to act on, the following: who accesses the platform, which of its content you access, what effect that content has on you, how you understand or use it, and what decisions you make as a result.
• We do not warrant the accuracy, completeness or timeliness of market data, third-party content or information displayed on the platform.

7.4 What we are not liable for

To the maximum extent permitted by law, we are not liable for loss or damage arising out of or connected with:

• the conduct, system failures, solvency, or obligations under its own agreements, of the clearing and custody partner, payment institutions, identity-verification providers or any other third party;
• errors, omissions, delays and interruptions in market data, model output or information displayed on the platform; and the consequences of operating errors such as mis-entered parameters, wrong quantity or price input, and duplicated or failed submissions;
• third-party fraud or hacking; your device, email account, credentials or two-factor authentication being broken into, stolen or lost; and losses arising while two-factor authentication is being reset — whatever the cause;
• our exercise of rights under these terms, including suspending or terminating an account, withdrawing a public display, clawing back rewards or points, and refusing or delaying execution of your instruction;
• your or anyone else's interpretation of, or reliance on, content, ratings or rankings on the platform, and the decisions made on that basis;
• how a strategy performs in simulation or live trading, and the profits or losses that result;
• planned maintenance, system upgrades, or adjustments made to meet legal, regulatory or risk-control requirements.

None of the above applies to loss caused directly by our wilful misconduct or fraud, nor to any liability that applicable law does not allow to be excluded, including negligence liability that cannot be excluded by law.

7.5 Limitation of liability

• To the maximum extent permitted by law, we are not liable for indirect loss, loss of profit, loss of trading opportunity or loss of data.
• Our aggregate liability under these terms is capped at the total fees you actually paid us in the 12 months before the claim arose.
• Where applicable law imposes on us a liability that cannot be excluded but may be limited, our liability is limited to the maximum extent the law allows.

7.6 Force majeure

We are not liable for delay, failure to perform or interruption of service caused by events beyond our reasonable control. Such events include, without limitation: severe market volatility, regulatory action, changes in law, government shutdown, natural disaster, war, terrorist attack, civil unrest, strike, interruption of telecommunications or network services, power failure, system or equipment failure, blockchain congestion or forks, and interruptions at trading venues, market-data sources or the clearing and custody partner.

This section does not exclude liability that cannot be excluded by law.

8. Indemnity

To the extent permitted by law, you will defend, indemnify and hold us harmless against third-party claims and demands, and the reasonable costs arising from them (including reasonable legal fees), arising out of or connected with:

• your use, misuse of, or access to the platform, the service or its content;
• your breach of these terms or of any rules incorporated into them, including any representation or warranty you gave us being untrue;
• content you upload, generate or submit infringing the intellectual property or other rights of another;
• statements or representations you make to any third party about the platform, the service or its content;
• acts carried out by anyone else using your account.

We may take over and lead the defence and handling of such a matter at our own cost, in which case you will cooperate with us. This section does not apply to matters arising from our own wilful misconduct or fraud.

9. Suspension and termination

• You may stop using the platform and close your account at any time.
• Where you seriously breach these terms or legal requirements, or your account presents a security risk, we may restrict, suspend or terminate it, and retain the relevant records where necessary.
• After termination, the provisions of these terms that by their nature should survive — intellectual property, limitation of liability, indemnity and dispute resolution among them — continue to apply.

10. Changes to these terms and notices

• We may update these terms. When we do, we will change the version number and effective date and publish them on the platform; where a change materially affects your rights or obligations, we will notify you in-app or by email and, where necessary, ask you to accept the terms again. Continuing to use the service after a change takes effect means you accept the updated terms.
• A notice we send to your registered email address is treated as delivered when sent.
• For any question, complaint or request about these terms, write to app@pm.finance.

11. General

11.1 Entire agreement

These terms, together with the documents incorporated by reference, are the entire agreement between you and us on your use of the platform, and replace any earlier communication or arrangement on the same subject.

11.2 Severability

Where any provision of these terms is held unenforceable or invalid, that provision is to be narrowed or removed to the minimum extent necessary to achieve its purpose, and the remaining provisions continue in full force.

11.3 Waiver

Our failure to exercise, or delay in exercising, any right under these terms is not a waiver of that right.

11.4 Assignment

You may not assign your rights and obligations under these terms without our written consent; we may assign these terms as part of a transfer of the business, a restructuring or a merger.

12. Governing law and dispute resolution

The formation, validity, interpretation and performance of these terms are governed by the law of Singapore, excluding its conflict-of-laws rules.

Disputes arising out of or in connection with these terms should first be resolved through good-faith negotiation. Failing that, either party may bring proceedings before a court of competent jurisdiction in Singapore.

This section does not affect rights given to you by the mandatory law of your own jurisdiction that cannot be excluded by agreement.