RCG Managed Futures Risk Disclaimer

Please be aware that trading in futures and options is risky and you may lose more than your initial investment. Past performance is not necessarily indicative of future results.

RCG has prepared this website for educational, information, and research purposes only. No investment advice or recommendations are being given. Information contained within this website has been obtained from sources believed to be reliable; however, no guarantee to any of its accuracy, including performance information, is made. RCG assumes no responsibility or liability for any investment decisions or advice made by any commodity trading advisor (CTA), investment professional, or other person/entity featured on this website.

Other than solely incidental to its brokerage activities, RCG does not provide investment or trading advice or recommendations about investments or trading of any kind. The information on this website, and the information from RCG regarding CTAs and Commodity Pool Operators (CPOs) is intended for informational, and research purposes only. Accordingly, RCG and its licensors (including Barclay) who license information to RCG (Information Providers) do not offer advice regarding the quality or suitability of any investment or of any investment or trading manager and assume no responsibility or liability for any investment or trading decisions or advice, treatment, or services rendered by any person, CTA, institutional investor, expert panelist, broker-dealer, futures commission merchant, introducing broker, associated person, investment manager, investment professional, or any other person featured on this website. Prior to trading, making any investment, or to hiring any investment or trading manager, or CTA, you should conduct due diligence as may be appropriate under the circumstances. RCG, RCG’s Introducing Brokers, or introducing FCMs and any of their Information Providers, shall not have any liability for investment or trading decisions based upon, or the results obtained from, the content provided on the website. You agree that you will obtain and read a CTA’s disclosure document prior to hiring that CTA.

The information found on this website is not an offer to sell or a solicitation of any offer to buy any security or investment product or service.

*** Before investing with any commodity trading advisor, please review the following CFTC and NFA required risk disclosures:

THE COMMODITY FUTURES TRADING COMMISSION HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY TRADING PROGRAM NOR HAS THE COMMISSION PASSED ON THE ADEQUACY OR ACCURACY OF ANY DISCLOSURE DOCUMENTS.

THE RISK OF LOSS IN TRADING COMMODITIES CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IN CONSIDERING WHETHER TO TRADE OR TO AUTHORIZE SOMEONE ELSE TO TRADE FOR YOU, YOU SHOULD BE AWARE OF THE FOLLOWING:

IF YOU PURCHASE A COMMODITY OPTION YOU MAY SUSTAIN A TOTAL LOSS OF THE PREMIUM AND OF ALL TRANSACTION COSTS.

IF YOU PURCHASE OR SELL A COMMODITY FUTURE OR SELL A COMMODITY OPTION YOU MAY SUSTAIN A TOTAL LOSS OF THE INITIAL MARGIN FUNDS AND ANY ADDITIONAL FUNDS THAT YOU DEPOSIT WITH YOUR BROKER TO ESTABLISH OR MAINTAIN YOUR POSITION. IF THE MARKET MOVES AGAINST YOUR POSITION, YOU MAY BE CALLED UPON BY YOUR BROKER TO DEPOSIT A SUBSTANTIAL AMOUNT OF ADDITIONAL MARGIN FUNDS, ON SHORT NOTICE, IN ORDER TO MAINTAIN YOUR POSITION. IF YOU DO NOT PROVIDE THE REQUESTED FUNDS WITHIN THE PRESCRIBED TIME, YOUR POSITION MAY BE LIQUIDATED AT A LOSS, AND YOU WILL BE LIABLE FOR ANY RESULTING DEFICIT IN YOUR ACCOUNT.

UNDER CERTAIN MARKET CONDITIONS, YOU MAY FIND IT DIFFICULT OR IMPOSSIBLE TO LIQUIDATE A POSITION. THIS CAN OCCUR, FOR EXAMPLE, WHEN THE MARKET MAKES A “LIMIT MOVE.”

THE PLACEMENT OF CONTINGENT ORDERS BY YOU OR YOUR TRADING ADVISOR, SUCH AS A “STOP-LOSS” OR “STOP-LIMIT” ORDER, WILL NOT NECESSARILY LIMIT YOUR LOSSES TO THE INTENDED AMOUNTS, SINCE MARKET CONDITIONS MAY MAKE IT IMPOSSIBLE TO EXECUTE SUCH ORDERS.

A “SPREAD” POSITION MAY NOT BE LESS RISKY THAN A SIMPLE “LONG” OR “SHORT” POSITION.

THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN COMMODITY TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS.

IN SOME CASES, MANAGED COMMODITY ACCOUNTS ARE SUBJECT TO SUBSTANTIAL CHARGES FOR MANAGEMENT AND ADVISORY FEES. IT MAY BE NECESSARY FOR THOSE ACCOUNTS THAT ARE SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS. A COMPLETE DESCRIPTION OF EACH FEE TO BE CHARGED TO YOUR ACCOUNT BY THE COMMODITY TRADING ADVISOR WILL BE CONTAINED IN THE DISCLOSURE DOCUMENT.

THIS BRIEF STATEMENT CANNOT DISCLOSE ALL THE RISKS AND OTHER SIGNIFICANT ASPECTS OF THE COMMODITY MARKETS. YOU SHOULD THEREFORE CAREFULLY STUDY THE APPLICABLE DISCLOSURE DOCUMENT AND COMMODITY TRADING BEFORE YOU TRADE, INCLUDING THE DESCRIPTION OF THE PRINCIPAL RISK FACTORS OF THIS INVESTMENT.

YOU SHOULD ALSO BE AWARE THAT COMMODITY TRADING ADVISORS MAY ENGAGE IN TRADING FOREIGN FUTURES OR OPTIONS CONTRACTS. TRANSACTIONS ON MARKETS LOCATED OUTSIDE THE UNITED STATES, INCLUDING MARKETS FORMALLY LINKED TO A UNITED STATES MARKET, MAY BE SUBJECT TO REGULATIONS WHICH OFFER DIFFERENT OR DIMINISHED PROTECTION. FURTHER, UNITED STATES REGULATORY AUTHORITIES MAY BE UNABLE TO COMPEL THE ENFORCEMENT OF THE RULES OF REGULATORY AUTHORITIES OR MARKETS IN NON-UNITED STATES JURISDICTIONS WHERE YOUR TRANSACTIONS MAY BE EFFECTED. BEFORE YOU TRADE YOU SHOULD INQUIRE ABOUT ANY RULES RELEVANT TO YOUR PARTICULAR CONTEMPLATED TRANSACTIONS AND ASK THE FIRM WITH WHICH YOU INTEND TO TRADE FOR DETAILS ABOUT THE TYPES OF REDRESS AVAILABLE IN BOTH YOUR LOCAL AND OTHER RELEVANT JURISDICTIONS.

*** If the Commodity Trading Advisor uses hypothetical performance results, please be aware of the following:

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

USER AGREEMENT
AGREEMENT TO BE BOUND BY LICENSE AGREEMENT

ALL USERS! BEFORE ACCESSING THIS SITE, PLEASE READ THIS AGREEMENT CAREFULLY AS IT GOVERNS USE OF THIS SITE, AND ANY MATERIAL AVAILABLE THROUGH THIS SITE,

This User Agreement (“Agreement”) is a legally binding contract between you and Rosenthal Collins Group LLC (“RCG”). Clicking the “I accept button” at the top of this User agreement is the legal equivalent of manually signing a paper copy of this Agreement. By clicking on the “I accept button”, you represent, warrant and covenant to RCG, that you are authorized to execute this Agreement on behalf of yourself or your firm and that you, acting on behalf of yourself or your firm, intend for you or your firm to be legally bound by this Agreement.

IF YOU DO NOT AGREE WITH THE TERMS AND CONDITIONS OF THIS AGREEMENT, YOU ARE NOT GRANTED PERMISSION BY RCG TO ACCESS OR OTHERWISE USE THIS SITE.

1. Grant of License. This Site, and the assembled materials and information available on or through it, are provided by RCG as a service to its users. This Agreement provides you, and where applicable, your firm (hereinafter, “User”), with a limited, revocable, nonexclusive, nontransferable license to use this Site conditioned on User’s continued compliance with this Agreement.

The undersigned (sometimes referred to as “you”) understands that Barclay Trading Group, Ltd., an Iowa corporation (“Barclay”), has licensed to Rosenthal Collins Group LLC, (“RCG”) certain periodic performance data for commodity trading advisors (“CTAs”), which are included in the Barclay Alternative Investment Database on the Barclay website, and are available through RCG.

The license from Barclay to RCG is a non-exclusive, nontransferable license to use the CTA data on the Barclay site (not hedge fund data), and the Barclay material available from RCG, solely to enable RCG to promote to clients and prospective clients that RCG has the data available for such clients as an aid to such clients in making personal investment decisions.

You are entitled to access a portion of the Barclay website containing the data through a link on RCG’s website, and you may receive additional Barclay material available from RCG, solely to enable clients and prospective clients of RCG to make informed personal investment decisions and for no other purpose.

You agree that you shall not use the data for any purpose other than aiding RCG’s clients and prospective clients to use the data for their personal investment purposes. In addition, the contact information of the CTAs (address, phone, etc.) if obtained by you is the confidential information of Barclay and is only to be used to contact the CTAs for clients,’ or prospective clients’ investment decisions.

You agree to take reasonable steps to protect and preserve Barclay’s ownership of the data and you will not use, or permit or encourage others to use the data, other than as set forth above as an investment aid for RCG’s clients and prospective clients.

You understand that Barclay is intended to be a beneficiary of your agreements hereunder and has the right to enforce this Agreement.

User may print and download materials and information on this section of the RCG website (herein called “this Site”) solely for his/her personal investment use, (and in the case of Licensee’s Introducing Brokers, fully disclosed FCMs, CTAs, or CPOs for their internal business and marketing use), provided that all hard copies contain all copyright and other applicable notices contained in such materials and information.

Except as otherwise expressly permitted herein, User may not modify, copy, distribute, broadcast, transmit, reproduce, publish, license, transfer, sell, mirror, frame, or otherwise use any information or material obtained from or through this Site. As a further condition of use of this Site, User shall not use this Site for any purpose that is unlawful or prohibited by this Agreement and shall comply with any applicable local, state, national, or international laws or regulations when using this Site.

2. No Recommendations or Investment Advice. Other than solely incidental to its brokerage activities, RCG does not provide investment or trading advice or recommendations about investments or trading of any kind. The information on this Site, and the information from RCG regarding CTAs and Commodity Pool Operators (CPOs) is intended for informational, and research purposes only. Accordingly, RCG and its licensors (including Barclay) who license information to RCG ("Information Providers") do not offer advice regarding the quality or suitability of any investment or of any investment or trading manager and assume no responsibility or liability for any investment or trading decisions or advice, treatment, or services rendered by any person, Commodity Trading Advisor (“CTA”), institutional investor, expert panelist, broker-dealer, futures commission merchant, introducing broker, associated person, investment manager, investment professional, or any other person featured on this Site. Prior to trading, making any investment, or to hiring any investment or trading manager, or CTA, User should conduct due diligence as may be appropriate under the circumstances. RCG, RCG’s Introducing Brokers, or introducing FCMs and any of their Information Providers, shall not have any liability for investment or trading decisions based upon, or the results obtained from, the content provided on the Site. User agrees that it will obtain and read a CTAs disclosure document prior to hiring that CTA.

3. Intellectual Property Rights. All material contained on or available through this Site, unless otherwise indicated, is protected by law including, but not limited to, United States copyright, trade secret, and trademark law, as well as other state, national, and international laws and regulations. Except as expressly provided herein, RCG does not grant any express or implied right to User of this Site under any patent(s), copyright(s), trademark(s), or trade secret information. Accordingly, unauthorized use of any material contained on this Site may violate copyright laws, trademark laws, trade secret laws, patent laws, the laws of privacy and publicity, and other regulations and statutes. Please be aware that RCG and its Information Providers actively and aggressively enforce their intellectual property rights to the fullest extent of the law.

The contents of a portion of this Site are Copyright © 2006 Barclay Trading Group, Ltd., all rights reserved, and are provided by RCG by permission. Barclay Group also owns a copyright in the content of this Site as a portion of a collective work and/or a portion of a compilation, and in the selection, coordination, arrangement, and enhancement of this Site's content. The contents of a portion of this Site are Copyright © 2006 Rosenthal Collins Group, LLC., all rights reserved.

RCG, and all other names, logos, and icons identifying RCG’s products and services are proprietary marks of RCG, and any use of such marks without the express written permission of RCG is strictly prohibited. Other product and company names mentioned herein may be the trademarks of their respective owners.

4. Sign-In Name and Password Policy; Confidentiality. Use of certain portions of this Site requires both sign-in information and a password. During the registration process for this Site, an individual will use his/her email address as the Sign-In Name ("Sign-In Name") and a password ("Password") to gain access to the restricted areas of this Site. Each Sign-In Name and corresponding Password can only be used by one individual. Anyone with knowledge of both an individual’s Sign-In Name and Password can gain access to the restricted portions of this Site and the information available to each user. Accordingly, User shall keep its Password confidential.

Each RCG Introducing Broker, and its Associated Persons (APs), Introducing FCMs and its Associated Persons (APs), Introducing CTAs and its APs, and RCG Branch Offices, and its APs, will receive an assigned user name and password which each shall keep confidential. Accordingly, you as a User, shall keep your password confidential.

User shall promptly notify RCG if he/she/it becomes aware of any loss or theft of a User Password or any unauthorized use of a User Password. RCG reserves the right to delete or change a User Password at any time and for any reason.

All information disclosed to User in connection with its use of the Site, including, without limitation, any information received from RCG, your broker, or the CTA, or the Commodity Pool Operator, that relates to or involves any commodity trading advisor, investment manager, separate account or fund, including information relating to a commodity trading advisor’s, an investment manager’s, a separate account's or a fund's performance (collectively, "Confidential Material") is of a proprietary and confidential nature, and, damage to RCG and /or the separate accounts, funds and/or the commodity trading advisors or investment managers and Barclay could result if the Confidential Material is disclosed to any third party. Confidential Material does not include material or information that User can demonstrate by written records is (i) already in the possession of or known to User, (ii) generally available to the public other than as a result of an unauthorized disclosure by User or its Representative (as defined below), or (iii) that becomes available to User from a source other than this Site or other than any other communication from RCG.

Except as required by law, the Confidential Material will be kept confidential by User and will not be disclosed in any manner whatsoever, except that User may disclose all or portions of the Confidential Material to his/her/its directors, officers, employees, agents, affiliates, representatives and advisors (collectively the "Representatives") who need to know such information for the purpose of evaluating an investment in any of the investment products on the Site. User shall inform its Representatives of the confidential nature of the Confidential Material and shall direct its Representatives to treat such information confidentially and otherwise to comply with the terms of this Agreement. In addition, User and its Representatives may disclose to any person who has a beneficial interest in a fund on this Site the Confidential Material with respect to such fund. User shall maintain a complete and accurate record of all persons to whom the Confidential Material is given. User shall be responsible for any breach of this Agreement by any of its Representatives and User will, at its sole expense, use his/her/its best efforts (including, but not limited to, court proceedings) to restrain its Representatives from prohibited or unauthorized disclosure or use of the Confidential Material.

User understands and agrees that money damages would not be an adequate remedy for any breach of this Agreement and that RCG and its Information Providers shall be entitled to equitable relief, including injunctions and specific performance, if User or its Representatives breach or threaten to breach any provision of this Agreement. Such remedies shall not be deemed to be the exclusive remedies for a breach or threatened breach by User or its Representatives of this Agreement but shall be in addition to all other remedies available at law or equity to RCG and its Information Providers. User further agrees to waive any requirement for the posting of a bond in connection with any such equitable relief. In the event of litigation relating to this Agreement, if a court of competent jurisdiction determines in a final, nonappealable order that User has breached this Agreement, then User shall be liable and pay to RCG and its Information Providers the reasonable legal fees they incur in connection with such litigation, including any appeal therefrom.

5. Confidentiality on the Internet. Use of the internet is solely at your own risk and is subject to all applicable local, state, national, and international laws and regulations. While RCG has endeavored to create a secure and reliable web site, please be advised that the confidentiality of any communication or material transmitted to/from this Site over the Internet cannot be guaranteed.

Accordingly, RCG and its affiliates and Information Providers are not responsible for the security of any information transmitted via the internet, the accuracy of the information contained on this Site, or for the consequences of any reliance on such information. User assumes sole and complete risk for using this Site, and for using the information available from RCG regarding CTAs or Commodity Pools, and the User must make his or her own determination as to these matters.

6. Security of This Site. Actual or attempted unauthorized use of this Site may result in criminal and/or civil prosecution. For your protection, RCG and its Information Providers reserve the right to view, monitor, and record activity on this Site without notice or permission from you. Any information obtained by monitoring, reviewing, or recording is subject to review by law enforcement organizations in connection with investigation or prosecution of possible criminal activity on this Site. RCG and its Information Providers will also comply with all court orders, subpoenas and other legal processes involving requests for such information.

7. Content on this Site. The information and materials on this Site are not a recommendation, or endorsement, of any commodity trading advisor, investment manager or its services. Any futures, options, derivatives, securities, investments, commodity trading advisors or investment managers mentioned are not recommendations of RCG or its Information Providers. All financial and investment information and materials on this Site, as well as reference materials or links to other sites and any information regarding CTAs and Commodity Pools that are available through RCG or your Broker or FCM, CTA, or Commodity Pool Operator, are for general educational, informational, and research purposes only, and are not intended to be relied upon for transactional or other purposes. You must obtain and read the disclosure document of each CTA before making any trading, investment or hiring decision, and the information on this Site is not meant to replace the disclosure document. Neither RCG nor any Information Provider verifies guarantees or warrants that the information on this Site, including without limitation performance information concerning CTAs, investment managers, separate accounts and/or funds, is accurate or complete or makes any warranties with regard to the results that have or may be obtained from its use. Past performance of any futures contract, option or other derivatives contract, futures fund, commodity trading advisor, security or investment manager is not an indication of future performance.

8. Investment Availability. User acknowledges that RCG provides no assurances as to the availability of any CTA or investment in any of the separate accounts or funds on this Site. User acknowledges that each investment or trading with a CTA or investment manager, or in a separate account or fund will require User to comply with each such CTA’s, or investment manager’s, separate account's or fund's investment or trading requirements. User acknowledges that RCG does not act as an agent on behalf of User or any commodity trading advisor, investment manager, separate account, fund or sponsor for investment or trading decisions and that a CTA, manager or fund may accept or reject an investment from or retention by User in its discretion

9. Events Beyond RCG’s or Information Provider's Control. Users expressly absolve and release RCG and its Introducing Brokers and Introducing FCMs and their Information Providers from any claim of harm resulting from a cause beyond their control, including, but not limited to, failure of electronic, computer or other mechanical equipment or communication lines, telephone or other interconnect problems, computer viruses, unauthorized access, theft, operator, severe weather, earthquakes, or natural disasters, strikes or other labor problems, wars, terrorism or governmental restrictions.

10. DISCLAIMERS. THE INFORMATION, PRODUCTS, AND SERVICES AVAILABLE ON THIS SITE MAY INCLUDE INACCURACIES OR TYPOGRAPHICAL ERROS OR OMIT MATERIAL INFORMATION. MOREOVER, RCG MAY MAKE MODIFICATIONS AND/OR CHANGES IN THIS SITE OR IN THE INFORMATION, PRODUCTS, AND SERVICES DESCRIBED IN THIS SITE AT ANY TIME, FOR ANY REASON.

USER ASSUMES THE SOLE RISK OF MAKING USE OR RELYING ON THE INFORMATION, PRODUCTS, AND SERVICES AVAILABLE ON THIS SITE. RCG, ITS INTRODUCING BROKERS, AND INTRODUCING FCMS, AND THEIR INFORMATION PROVIDERS MAKE NO REPRESENTATIONS ABOUT THE SUITABILITY, COMPLETENESS, TIMELINESS, RELIABILITY, LEGALITY, OR ACCURACY OF THE INFORMATION, PRODUCTS, OR SERVICES DESCRIBED OR CONTAINED ON THIS SITE FOR ANY PURPOSE. ALL SUCH INFORMATION, PRODUCTS, AND SERVICES ARE PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, INCLUDING ANY IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NONINFRINGEMENT.

IN NO EVENT SHALL RCG, ITS INTRODUCING BROKERS, OR INTRODUCING FCMS, OR THEIR INFORMATION PROVIDERS BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF THIS SITE OR WITH THE DELAY OR INABILITY TO USE THIS SITE, OR FOR ANY INFORMATION, PRODUCTS OR SERVICES OBTAINED THROUGH THIS SITE, OR OTHERWISE ARISING OUT OF THE UTILIZATION OF THIS SITE, WHETHER BASED IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE, EVEN IF RCG OR SUCH INTRODUCING BROKERS, OR INTRODUCING FCMS, OR SUCH INFORMATION PROVIDERS HAVE BEEN ADVISED OF THE POSSIBILITY OF DAMAGES. BECAUSE SOME STATES/JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, THE ABOVE LIMITATION MAY NOT APPLY. IF SUCH ABOVE LIMITATION DOES NOT APPLY, TOTAL LIABILITY FOR RCG AND ITS INTRODUCING BROKERS, OR INTRODUCING FCMS, OR SUCH INFORMATION PROVIDERS, FOR ANY REASON WHATSOEVER RELATED TO USE OF THIS SITE SHALL NOT EXCEED THE TOTAL AMOUNT PAID BY USER TO RCG IN CONNECTION WITH THE SUBJECT MATTER OF THE PARTICULAR DISPUTE.

11. Indemnity. User shall defend, indemnify, and hold harmless RCG , its Introducing Brokers, or introducing FCMs, and their Information Providers and their respective affiliates and all of their employees, agents, directors, officers, proprietors, managers, members, partners, representatives, shareholders, servants, attorneys, predecessors, successors, and assigns, from and against any and all claims, proceedings, damages, injuries, liabilities, losses, costs, and expenses (including reasonable attorneys' fees and litigation expenses), relating to or arising from User’s use of this Site, any arrangements User makes based on the information available on or through this Site, or any breach by User of this Agreement or other improper act or omission.

12. Governing Law. This Agreement has been made in and will be construed and enforced in accordance with Illinois law, as applied to agreements entered into and completely performed in Illinois. Any action to enforce this Agreement will be brought in the federal or state courts presiding in Chicago, Illinois, U.S.A., and all parties to this Agreement expressly agree to be subject to the jurisdiction and venue of such courts. This Site is controlled and operated by RCG and its Information Providers from offices within the United States. RCG makes no representation that materials in this Site are appropriate or available for use in other locations, and access to them from territories where any of the contents of this Site are illegal is prohibited. Those who choose to access this Site from other locations do so on their own volition and are responsible for compliance with applicable local laws.

13. Termination. RCG reserves the right at any time and for any reason in its sole discretion to deny User access to this Site or any portion thereof and to terminate the license to use this Site granted pursuant to this Agreement. Termination will be effective without notice.

14.Waiver. Failure to insist on strict performance of this Agreement will not operate as a waiver of any subsequent default or failure of performance. No waiver by RCG or any of its Information Providers of any right under this Agreement will be deemed to be either a waiver of any other right or provision or a waiver of that same right or provision at any other time. No waiver shall be effective unless in writing.

15. Admissibility. A printed version of this Agreement and of any related notice given in electronic form shall be admissible in judicial or administrative proceedings based upon or relating to this Agreement to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form.

16. Severability. If any part of this Agreement is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and the liability limitations set forth above, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most clearly matches the intent of the original provision and the remainder of this Agreement shall continue in effect.

17. User/RCG. No joint venture, partnership, employment, or agency relationship exists between User and RCG as a result of this Agreement or User's use of this Site.

18. Reservation of Rights. Any rights not expressly granted herein are reserved.

19. Entire Agreement. This Agreement, and any other written agreements (in electronic or printed form), all of which are hereby incorporated as if set forth fully herein, represent the entire agreement between User and RCG with respect to use of and material available on or through this Site.