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Clarifications to our Terms of Use
Dan Whitnable
edited Dec 16, 2019

As we begin offering more opportunities to license community algorithms, we feel it's important to better clarify the types of anonymous data which can be shared with third-parties for the purpose of evaluating algorithms. In the Quantopian Terms of Use we currently use 'performance data', 'performance information', and 'performance statistics' interchangeably when referring to this data. Going forward, this data will collectively be referred to as Performance Data. This isn't an expansion or change in the scope of the data which can be shared with third-parties. It's solely intended to create more consistency and reduce confusion when referring to this data.

This will be reflected in a change to Section 5 of our Terms of Use. Below is the new language with additions highlighted in bold italics. Basically, the term Performance Data replaces the several other terms previously used.

Additionally, in accordance with Quantopian's efforts to support the creation of high-quality strategies in which to invest, we may review the results of your backtests and the performance and other "data exhaust" of your Content (such results, performance data, and other data exhaust collectively, “Performance Data”). Such Performance Data includes, but is not restricted to, returns and risk measurements of any backtest executed with the Content. We may generate additional Performance Data or other information from your Content for the purposes of (a) verifying that software platform changes do not change or break your algorithm or (b) analyzing standardized performance results. You further agree that Quantopian may reproduce, store, and create derivative works from your Private Content or other Content necessary to evaluate your algorithm. Any testing, evaluation, reproduction or other use will be done with the spirit and intent of protecting your Content. We may also share anonymized and/or aggregated Performance Data referenced above with third parties. Any such external or third party sharing or usage of Performance Data will not be authorized to the extent such sharing or usage of Performance Data would reveal the details and workings of the underlying Content.

For comparison, below is the text from the original Terms of Use. Here, the items which have been deleted are in bold italics.

Additionally, in accordance with Quantopian's efforts to support the creation of high-quality strategies in which to invest, we may review the results of your backtests and the performance and other "data exhaust" of your Content. Such performance information includes, but is not restricted to, returns and risk measurements of any backtest executed with the Content. We may generate additional performance data from your Content for the purposes of (a) verifying that software platform changes do not change or break your algorithm or (b) analyzing standardized performance results. You further agree that Quantopian may reproduce, store, and create derivative works from your Private Content or other Content necessary to evaluate your algorithm. Any testing, evaluation, reproduction or other use will be done with the spirit and intent of protecting your Content. We may also share anonymized and/or aggregated algorithm performance statistics with third parties. Any such external or third party usage of performance data will not be authorized to the extent such usage of performance data would reveal the details and workings of the underlying Content.

These changes don't materially change the Terms of Use and are intended to promote more consistency, clarity, and transparency.

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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by Quantopian. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as none of Quantopian nor any of its affiliates is undertaking to provide investment advice, act as an adviser to any plan or entity subject to the Employee Retirement Income Security Act of 1974, as amended, individual retirement account or individual retirement annuity, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement or other investor, contact your financial advisor or other fiduciary unrelated to Quantopian about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances. All investments involve risk, including loss of principal. Quantopian makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.

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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by Quantopian.

In addition, the material offers no opinion with respect to the suitability of any security or specific investment. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as none of Quantopian nor any of its affiliates is undertaking to provide investment advice, act as an adviser to any plan or entity subject to the Employee Retirement Income Security Act of 1974, as amended, individual retirement account or individual retirement annuity, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement or other investor, contact your financial advisor or other fiduciary unrelated to Quantopian about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances. All investments involve risk, including loss of principal. Quantopian makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.