Hello Everyone,

We've made updates to our Terms of Use and our Privacy Policy. You can review the old terms and old privacy language as well.

We respect and protect your intellectual property. We take that very seriously, and we're updating our privacy policy to affirm that commitment and to increase your visibility into how Quantopian is building a hedge fund. In order to determine which community members are writing the best algorithms, we need to study the performance data of the algorithms on Quantopian. Any community member who is selected to join the fund will be contacted and terms of compensation will be negotiated; there is no obligation for the member to agree to be in the fund, and if they choose not to, their algorithm will not be used. We are not going to make money from your intellectual property without your consent. The new policies explain what information we're using to do the evaluation and the commitments we are making to our members.

Overview of changes to the Terms of Use

• In section 5, we are inserting a paragraph that makes it clear that Quantopian can review your backtest and live trading results. It's important that we have this right so that we can identify our top performers. In the new paragraph we also re-affirm that we will not attempt to infer or derive the inner workings of your algorithm. We care about the algorithm's performance, but we don't want to violate the secrecy of your intellectual property.
  
• We made a few other minor changes to support the real-money features of the platform.

Overview of the changes to the Privacy Policy

• In section 4b, we're explicitly saying that we generate, collect, and store your algorithm's performance data.
  
• In section 6a, we explicitly say that we might contact you about joining the fund.
  
• In section 6a we also make it clear that we can share anonymized or aggregated performance data with third parties. This will be important as we solicit investors in the hedge fund.

Before this change, our last big update to our policies was in the beginning of 2014. We think that this roughly annual revision cycle is healthy. We will continue to make adjustments to our policies in the future as it becomes appropriate.