Terms & Conditions

Please read these terms and conditions carefully before purchasing or using any Spectra Markets or Spectra School product or service.

The following Terms apply when you enroll in a Spectra School self-study course, enroll in a live seminar, purchase online training licenses or seminar enrollments on behalf of your organization, or use any of our services.

Who are we? Spectra Markets LLC & Spectra School

Who are you? You are a customer, or you represent a customer, of our Spectra School (as defined below).

A few things You should know right away:

By providing us with your email, you agree to receive email updates on courses and special events. You can change your mind at any time and unsubscribe from emails by clicking the “unsubscribe” link located at the bottom of every marketing email or by emailing info@spectramarkets.com.

These terms of use (“terms”) apply to all usages of Spectra Markets-related services that we may provide to you when you accept these terms via any online form or printed agreement, and you, any company you represent and any employer, university or organization providing personal data to Spectra Markets in accordance with a Service Agreement agree to follow and be bound by these terms. If you are agreeing to these terms on behalf of your company/organization, then you are representing to us that you have read these terms, you have the authority to bind your company, and the term “you” shall refer to your company. If you do not have such authority, or if you do not agree to these terms, you must not submit the online form or sign the printed agreement used to sign up for or purchase our Services and you shall not be permitted to use the Spectra School service.

Article 1: Payments, Refunds and Referrals

1.1 Payments

You agree to pay the fees for Spectra School products that you purchase, and you authorize us to charge your debit or credit card for those fees. Spectra Markets works with third party payment processing partner (Stripe) to offer you the most convenient payment methods and to keep your payment information secure. Visit our  for more details on how we work to secure your personal data. When you make a purchase, you agree not to use an invalid or unauthorized payment method. If your payment method fails and you still get access to the course you are enrolling in, you agree to pay us the corresponding fees within thirty (30) days of notification from us. We reserve the right to disable access at any time to any course for which we have not received adequate payments.

1.2 Credit Card Disputes/Chargebacks

Spectra Markets has a zero-tolerance policy for chargebacks. Any customer who disputes a credit card payment is subject to a fine, suspension and account termination at Spectra Markets’ discretion. A charge of $25.00 per chargeback will be assessed to all accounts that receive a chargeback.

1.3 Refunds

If the product you purchased is not what you were expecting, you can request, within 30 days of your purchase, that Spectra Markets credit/refund your account. We reserve the right to apply a credit or a refund, at our discretion, depending on capabilities of our payment processing partners. No credit or refund is due to you if you request it after the 30-day time limit has passed or if you’ve already completed the course material and received a Certificate of Completion.

To request a credit/refund email us directly at info@spectramarkets.com.

At our discretion, if we believe you are abusing our refund policy, we reserve the right to ban your account and to restrict all future use of the Services. If we ban your account or disable your access to a course due to your violation of these Terms, you will not be eligible to receive any credit or refund.

1.4 Pricing

All pricing for products on the Spectra School website is listed in US dollars unless otherwise labelled. We do not enable users to see pricing in other currencies.

1.5 Promotions

We run promotions for some courses through the use of promotion codes at checkout. These promotions are available for a set period of time. The price applicable to a course or seminar enrollment will be the price at the time you complete your purchase at checkout. Product prices may be different when you are logged into your account from the price available to users who aren’t registered or logged in, because some of our promotions are available to website members/logged-in users only.

Customers agree to allow Spectra Markets to debit their credit cards for the amount of discount in cases when customers inadvertently use unauthorized discount codes when registering for events.

1.6 Referral Program

The Spectra Markets referral program is a way for registered users to obtain discount codes for future courses or purchases on our website, by giving their personal referral code to personal connections. Referrals should only be used for personal and non-commercial purposes, and only shared with personal connections. Referral codes should not be published or distributed where there is no reasonable basis for believing that all or most of the recipients are personal friends (such as on coupon websites or online forums). Any referral codes found on such places will be disqualified from the program indefinitely. All purchases made through the referral program will have the same rights to refund as stated above.

Spectra Markets payment and pricing policies are subject to change without notice.

Article 2: Definitions

“Authorized User” means any of your employees, consultants, contractors, or agents authorized to access and use the Spectra School Service on behalf of your business, in each case subject to such person’s agreement to be bound by these Terms.

“Front End Code” means our user interface display and usability platform. This includes, but is not limited to, the layout, colour scheme, HTML pages and source code, etc.

“Spectra School Materials” means any documentation, user guides, or other similar materials provided by Spectra Markets to you in connection with your use of Spectra School.

“Spectra School Service” means any of the Spectra School Services that are developed, operated, and maintained by Spectra Markets (and its third-party service providers) and that are subscribed to through a Spectra Markets or Spectra School branded or controlled website that includes a link to or refers to these Terms. The definition of Spectra School Service does not include any Affiliate Services (as defined below) that may be purchased by you from Spectra Markets.

“Order Form” means any online or written subscription order form, purchase form or contract for the Spectra School Service or for Affiliate Services submitted by you either during an online subscription or purchase process or separately signed by you and submitted to Spectra Markets, and any future purchase order, contract, or order form that refers to these Terms.

“Service Agreement” means any electronic or written signed agreement you have entered into for the provision of services by Spectra Markets.

“Affiliate Services” means any service not developed, operated, and maintained by Spectra Markets.

“Subscription Term” means the use term for the Spectra School Service set forth on your order form or Service Agreement and any additional renewals of such term.

“Third Party Content” means the content, including software code and software-as-a-service offerings, that a Spectra Market partner or other third party may bundle with the Spectra School Service.

“Your Data” means registration information and other information relating to your Authorized Users, and information relating to your customers, contacts, business, marketing, and finances, and any similar data that you submit to the Spectra School Service.

Article 3: Accounts

THE WEBSITE IS NOT AVAILABLE TO (A) ANY USERS PREVIOUSLY SUSPENDED OR REMOVED FROM THE WEBSITE BY SPECTRA MARKETS OR (B) ANY PERSONS UNDER THE AGE OF 18.

By using or registering an account for the website, you represent (a) that you have not been previously suspended or removed from the website by Spectra Markets; (b) that you are either (i) at least 18 years of age; and (c) that your registration and your use of the website is compliant with any and all applicable laws and regulations.

3.1 Account.

In order to use certain features of the website, you must register for an account. You may be asked to provide a password in connection with your account. You are solely responsible for maintaining the confidentiality of your account and password, and you agree to accept responsibility for all activities that occur under your account or password. You agree that the information you provide to Spectra Markets, whether at registration or at any other time, will be true, accurate, current, and complete. You also agree that you will ensure that this information is kept accurate and up to date at all times. If you have reason to believe that your account is no longer secure (e.g., in the event of a loss, theft or unauthorized disclosure or use of your account ID or password), then you agree to immediately notify the Spectra Markets Data Protection Officer at info@spectramarkets.com.

3.2 Group Leader.

Spectra School may make available certain features and tools that permit certain users (such as, for example, employers, training administrators, schools, educators) to work with employees, students and other users through the website in order to provide such employees, students and other users with training/education-related services, and to review and evaluate training/educational achievement and progress of such students and other Users (each a “Group Leader”). You hereby agree to indemnify, defend and hold harmless Spectra Markets against any and all claims, losses, liabilities and expenses (including reasonable attorneys’ fees) arising out of or related to (a) your violation of any provision, representation or warranty; (b) the use of the website by an under 18 user; (c) your registration of an under 18 user, or (d) any other action related to an under 18 user.

Article 4: Use Rights and Restrictions

4.1 Use Rights; Restrictions.

Subject to these terms, Spectra Markets grants to you during the Subscription Term the non-transferable (except as permitted below), non-exclusive right to permit your authorized users to access and use the Spectra School Service (and any Spectra School materials provided to you) to allow you to perform functions that the Spectra School Service is designed to perform, subject to the following restrictions: (i) your use of the Spectra School Service may not be on behalf of third parties unless a separate agreement between you and Spectra Markets permits use of the Spectra School Service on behalf of your third party users (and in such case limited to use on behalf of third party users for whom you have purchased access and use rights); (ii) except as expressly permitted herein or in a separate partner agreement between you and Spectra Markets, you may not license, sell, rent, lease, transfer, assign, distribute, display, host, outsource otherwise commercially exploit or make the Spectra School Service or the Spectra School materials available to any third party; (iii) you may not modify, make derivative works of, disassemble, reverse compile, or reverse engineer any part of the Spectra School Service or Spectra School Materials (provided that reverse engineering is prohibited only to the extent such prohibition is not contrary to applicable law), or access or use the Spectra School Service or Spectra School Materials in order to build a similar or competitive product or service; (iv) your use of the Spectra School Service shall conform with the restrictions set forth in the Order Form or Service Agreement for the level of subscription/number of licenses purchased by you (Spectra Market may monitor your compliance with these limits and if it detects overuse require that you upgrade to the appropriate higher subscription level).

4.2 Technical Support.

During the Subscription Term, you will be entitled at no extra charge to access standard technical support resources for the Spectra School Service that may be offered by Spectra Markets from time to time.

4.3 Intellectual Property Rights.

You acknowledge and agree that Spectra Markets retains all proprietary rights in and to the Spectra Markets website (Spectra School – Spectra Markets) which we may update from time to time. Spectra Markets also retains all right, title and interest (including all copyrights, patents, service marks, trademarks and other intellectual property rights) in and to the Spectra School Service and Spectra School Materials (including application development, business and technical methodologies, and implementation and business processes, used by Spectra Markets to develop or provide the Spectra School Service or Spectra School Materials), and any and all updates, enhancements, customizations, revisions, modifications, future releases and any other changes relating to any of the foregoing. Except for the limited access and use rights granted to you under these Terms, you do not acquire any interest in the Spectra School Service or Spectra School Materials. You agree that Spectra Markets can use any suggestions, enhancement requests, feedback, recommendations, or other information provided by you or any of your Authorized Users relating to the Spectra School Service or the Spectra School Materials without restriction or obligation to you.

4.4 Additional Restrictions.

You are expressly prohibited from using any Front-End Code for any purpose outside of the intended design and implementation of your authorized use of the Spectra School Service. Any replication or use of any aspect of the Front-End Code or other Spectra Markets application or Affiliate Services for any purpose designed or intended to compete with Spectra Markets’ solutions is strictly prohibited.

Article 5: Data Protection

5.1 Ownership of Your Data.

Spectra Markets will be the Data Controller of your data and will use your data solely in connection with Spectra Markets’ operation of the Spectra School Service on your behalf. Full details of our Data Protection procedures can be found in our Privacy Policy on our website.

Article 6: Fees

6.1 Fees.

The fees for the Spectra School Service and any additional Affiliate Services (“Fees”) are set forth in the Order Form or Service Agreement and are payable in advance, irrevocable and non-refundable except as set forth in the Order Form or Service Agreement and these Terms. You agree to provide Spectra Market with complete and accurate billing and contact information. Where payment by credit card is indicated in the Order Form or Service Agreement, or you otherwise provide Spectra Market with credit card information, you authorize Spectra Markets to bill such credit card (a) at the time that you order the Spectra School Service or other Affiliate Services set forth in the Order Form or Service Agreement, (b) for any billing frequency otherwise established in the Order Form or Service Agreement, and (c) at the time of any renewal, for the amount charged plus any applicable sales taxes for any renewed Subscription Term. If Spectra Markets, in its discretion, permits you to make payment using a method other than a credit card, Spectra Markets will invoice you at the time of the initial Order Form or Service Agreement and thereafter on an agreed upon billing period, and all such amounts invoiced will be due within seven (7) days of your receipt of Spectra School’s invoice.

6.2 Non-Payment; Other Suspension Rights.

Spectra Markets may terminate the Spectra School Service if the billing or contact information provided by you is false or fraudulent. Spectra Markets also reserves the right, in its discretion, to suspend or cancel your access and/or use of the Spectra School Service: (i) where any payment is due but unpaid under any Order Form or Service Agreement or account associated with you and you have been requested but failed to promptly cure such payment failure; or (ii) in the event a dispute arises on your account as to who at your business has authority to act or manage your account and Spectra Markets is not promptly provided with written instructions from the interested parties associated with your account that fully resolves the dispute. You acknowledge and agree that it a dispute arises as to management of your account, then (i) if the listed owner of the account is a corporation, limited liability company or other registered entity, Spectra Markets may rely on public records (to the extent available) concerning the appropriate authorized executives or managers of your entity; or (ii) if the listed owner is a dba or sole proprietorship, or any other entity for which public records of control are not readily accessible online, Spectra Markets may assume that the person or entity that has been making payments on your account has the authority to manage the account. You agree that Spectra Markets shall not be liable to you nor to any third party for any suspension or cancellation of the Spectra School Service resulting from your non-payment of Fees or from a dispute as to the management rights to your account.

Article 7: Confidentiality, Use of Names

7.1 Confidential Information.

For purposes of this Agreement, confidential information shall include the business terms in the Order Form or Service Agreement, your Data, the Spectra School Materials, and any information that is clearly identified in writing at the time of disclosure as confidential or that should be reasonably understood to be confidential by the receiving party given the nature of the information and the circumstances of its disclosure (“Confidential Information”). Each party agrees: (a) to receive and maintain in confidence all Confidential Information disclosed to it by the other party or by a third-party; (b) not to use the Confidential Information of the other party except to the extent necessary to perform its obligations or exercise rights hereunder; (c) to limit the internal dissemination of Confidential Information to those employees and contractors of the recipient who have a need to know and an obligation to protect it; and (d) to protect the confidentiality thereof in the same manner as it protects the confidentiality of similar information and data of its own (at all times exercising at least a reasonable degree of care in the protection of such Confidential Information). Spectra Markets will restrict its employees’ access to your Confidential Information to only those employees necessary as determined in Spectra Markets sole discretion to successfully provide the Spectra School Service. Spectra Markets may disclose Confidential Information on a need-to-know basis to its contractors who have executed written agreements requiring them to maintain such information in strict confidence and use it only to facilitate the performance of their services for Spectra Markets in connection with the performance of this Agreement. Except for personal information within your data which is at all times understood to be Confidential Information notwithstanding anything to the contrary in these Terms, Confidential Information shall not include information that: (1) is known publicly; (2) is generally known in the industry before disclosure; (3) has become known publicly, without fault of the recipient, subsequent to disclosure by the disclosing party; or (4) the recipient becomes aware of from a third party not bound by non-disclosure obligations to the disclosing party and with the lawful right to disclose such information to the recipient. This Section will not be construed to prohibit the disclosure of Confidential Information to the extent that such disclosure is required by law or order of a court or other governmental authority. The parties agree to give the other party prompt notice of the receipt of any subpoena or other similar request for such disclosure.

7.2 Credit Card Information.

Spectra Markets agrees that it or its e-commerce sub processor (Stripe) will retain and store any provided credit card information only for the minimum amount of time required for business, legal and/or regulatory purposes, and will use standard industry practices to protect such information from unauthorized access, disclosure, or use.

7.3 Use of Names in Marketing.

You may use Spectra Markets name and credentials in an appropriate and acceptable manner for your standard marketing promotions, provided that you agree to cease or alter such use at Spectra Markets request where such use is contrary to Spectra Markets’ branding policies, could cause any brand confusion in the market or is otherwise objectionable to Spectra Markets. Similarly, Spectra Markets may use your business name in an appropriate and acceptable manner for standard marketing promotions, provided that Spectra Markets agrees to cease or alter such use at your request where such use is contrary to your branding policies, could cause any brand confusion in the market or is otherwise objectionable to you. Acceptable and standard marketing promotions include, but are not limited to; client listings, press releases, surveys, interviews, reputable business publications, television, and web site presentation and promotion, etc.

Article 8: Term & Termination

8.1 Standard Term.

Unless a different Term is specified in a signed Order Form or Service Agreement between you and Spectra Markets, the Initial Term of your subscription to an Spectra Markets will begin on the submission or execution of your Order Form or Service Agreement and shall continue until the subscription is terminated as provided for in this Article 6.

8.2 Notice of Non-Renewal.

Either party may terminate the Subscription Term to a Spectra Markets Service by providing prior written notice of non-renewal to the other party at least 30 days prior to the end of the then-current Subscription Term. Spectra Markets’ termination rights are in addition to any termination or suspension rights it may have under these Terms or any incorporated policy.

8.3 Effect of Termination.

Upon termination of the Subscription Term, all Fees then due and payable to Spectra Markets must be paid in full. Contingent upon its receipt of all such Fees, Spectra Markets will continue to make your data available for downloading after the termination date. Spectra Markets will remove your data from the production environment for the Spectra School Service in line with our retention period defined within our Privacy Policy. The provisions of these Terms which by their nature are intended to survive expiration or termination, including but not limited to obligations concerning confidentiality, protection of intellectual property, indemnification and payment of unpaid Fees and expenses, shall survive any termination.

Article 9: Warranties, Limitation of Liability, and Indemnity

9.1 Limited Warranties.

  • By Spectra Markets.
    Spectra Markets warrants for a period of 30 days following their delivery that all Spectra School Services provided hereunder will be performed in a workmanlike manner, in substantial conformity with the professional standards for comparable services in the industry. For any material breach of this warranty timely reported by you, your exclusive remedy shall be the re-performance of the deficient Spectra School Services, and if Spectra Markets is unable to re-perform the deficient Spectra School Services as warranted, You shall be entitled to recover the portion of the Fees paid to Spectra Markers for such deficient Spectra School Services, and such refund shall be Spectra Markets’ entire liability.
  • By You.
    You warrant that you or your business shall comply with these Terms and with all applicable federal, state, and local laws and regulations, as well as all incorporated policies, in connection with your use of the Spectra School Service, and.
  • Affiliate Services.
    All affiliate services included or sold with the Spectra School Service are provided solely according to the warranty and other terms specified by the affiliate, who is solely responsible for service and support for its product. For service, support, or warranty assistance, you should contact the affiliate directly. Spectra Markets MAKES NO WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO SUCH AFFILIATE PRODUCTS. IN NO EVENT WILL Spectra Markets BE LIABLE FOR ANY INCIDENTAL, CONSEQUENTIAL, OR COVER DAMAGES ARISING OUT OF YOUR USE OF OR INABILITY TO USE AFFILIATE PRODUCTS OR ANY AMOUNT IN EXCESS OF THE AMOUNT PAID BY YOU FOR THE PRODUCT THAT GIVES RISE TO ANY CLAIM.

9.2 Spectra Markets Not Responsible for Third Party Content.

The Spectra School Service may be bundled by third parties (including but not limited to Spectra Markets marketing or content partners) with Third Party Content designed to facilitate use of the Spectra School Service in certain market niches or to customize the Spectra School Service for use by certain categories of target customers. To the extent that you either purchase the Spectra School Service from such third parties or acquire the Third Party Content or configuration services from such third parties (even though you may purchase the core Spectra School Service directly from Spectra Markets), Spectra Markets does not warrant in any manner and will not be responsible for such Third Party Content and you agree to look solely to the relevant third party provider (and not Spectra Markets) if and to the extent that you have any complaints or issues relating to the Third Party Content or its interaction with an Spectra School Service.

9.3 Warranty Disclaimers.

Each party disclaims all other warranties, including but not limited to warranties of merchantability, title, uninterrupted service, or fitness for a particular purpose. You acknowledge that Spectra Markets specifically disclaims all warranties relating to the Spectra School service.

9.4 Indemnity.

You agree to indemnify and hold Spectra Markets harmless from and defend Spectra Markets against any third party or government claims, including all related damages, costs and expenses (including reasonable attorneys’ fees), that arise due to your violation of law or breach of these Terms, including any losses that result from claims you make that are prohibited under any provision of these Terms, such as the Limitation of Liability section below, or any other section.

9.5 Limitation of Liability.

In no event will Spectra Markets be liable to you for any indirect, special, incidental, punitive, or consequential damages, including, but not limited to, loss of data, loss of business or other loss arising out of or resulting from this agreement even if it has been advised of the possibility of such damages. The foregoing shall apply regardless of whether such liability sounds in contract, negligence, tort, strict liability, or any other theory of legal liability. In addition, in no event will Spectra Markets’ cumulative liability under this agreement exceed the amount paid by you to Spectra Markets during the service agreement period preceding the alleged liability event.

Article 10: General Provisions

10.1 Notice.

Notices to Spectra Markets will only be effective when delivered to info@spectramarkets.com. We may give general notices within the Spectra School Service, which will be effective when posted. Alternatively, we may give you notice (a) by email or mail to the last known email or physical address that we have on record for you, which will be effective when we send it; or (b) via telephone, by calling the number we have on record for you, which will be effective when we talk with you. It is your responsibility to keep all your contact information current.

10.2 Assignment.

You do not have a right to assign these Terms without providing prior notice to and obtaining the consent of Spectra Markets. Any purported assignment in violation of this Section shall be void. We can assign these Terms without your consent.

10.3 Integration; Modification.

These Terms and any amendments thereto, along with the information incorporated into these Terms (including reference to information contained in a URL or referenced policy), together with any applicable Order Form or Service Agreement, represent the parties’ entire understanding relating to the Spectra School Service and the Spectra School Materials, and supersede any prior or contemporaneous, conflicting, or additional communications. We may modify all or parts of these Terms at any time. If we revise these Terms, the modified version will not be retroactive and will be effective and binding the day after we post the revised Terms at https://www.spectramarkets.com/terms-and-conditions/. We will give you notice of material changes to our Terms, most likely via email or within the Spectra School Service. If you object to any changes we make to our Terms, you must give us notice within 10 days after the revised Terms are posted; in this event, your continued use of the Spectra School Service will continue to be governed by the Terms in effect prior to your notice, provided that those Terms will remain in effect only until the expiration or earlier termination of your then-current Subscription Term. If your subscription renews at the end of your Subscription Term, the Terms posted on https://www.spectramarkets.com/terms-and-conditions/ at the time of your renewal will apply to you upon such renewal. If you don’t timely object to changes, we make to these Terms by giving us notice as described above, your continued access to or use of the Spectra School Service means you have agreed to be bound by the most current version of these Terms which will govern our relationship with you as soon as they become effective. You can always find our most up-to-date terms at https://www.spectramarkets.com/terms-and-conditions/. Since we might update these Terms from time to time or at any time, we suggest you review them occasionally and check the “Revised” date which will reflect the date the current version was posted.

10.4 Governing Law.

These Terms shall be governed exclusively by the laws of the State of New York, USA, excluding its conflict of laws rules. We and you agree to the exclusive jurisdiction and venue of the state or federal courts in New York County, New York, USA for any and all disputes, controversies and claims arising out of or relating to these Terms or concerning the respective rights or obligations of the parties.

10.5 Force Majeure.

Except for your obligation to pay Fees, neither party will be responsible for failure of performance due to causes beyond its control.

10.6 Export.

You agree that U.S. export control laws and other applicable export and import laws govern your use of the Spectra School Service, including Spectra School technology. You represent that you are neither a citizen of an embargoed country nor prohibited end user under applicable U.S. export or anti-terrorism laws, regulations, and lists. You agree not to use or export, nor allow a third party to use or export, the Spectra School Service or technology in any manner that would violate applicable law, including but not limited to applicable export and import control laws and regulations.

10.7 Severability.

If any provision of these Terms is determined to be illegal or unenforceable, that provision will be limited to the minimum extent necessary so that these Terms shall otherwise remain in full force and effect.

10.8 Relationship of Parties.

No joint venture, partnership, employment, or agency relationship exists between Spectra Markets and you as a result of these Terms or use of the Spectra School Service.

10.9 Waiver.

The failure of either party to enforce any right or provision in these Terms shall not constitute a waiver of such right or provision unless acknowledged and agreed to by such party in writing.

Article 11: Markets and Trading Commentary

All material has been provided by Spectra Markets. Material is confidential and therefore intended for your sole use. You may not reproduce, distribute, or transmit this material or any portion thereof to anyone without prior written permission from Spectra Markets.

All material is solely for informational and discussion purposes only. Spectra Markets is not a registered investment advisor or commodity trading advisor. This material should not be viewed as a current or past recommendation or an offer to sell or the solicitation to enter into a particular position or adopt a particular investment strategy. Spectra Markets does not provide, and has not provided, any investment advice or personal recommendation to you in relation to any transaction described in this material. Accordingly, Spectra Markets is under no obligation to, and shall not, determine the suitability for you of any transaction described in this material. To be clear: Your individual circumstances have not been assessed. You must determine, on your own behalf or through independent professional advice, the merits, terms, conditions, risks, and consequences of any transactions described in this material. Securities described in this material may not be eligible for sale in all jurisdictions or to certain categories of investors. This material may also contain information regarding derivatives and other complex financial products. Do not invest in such products unless you fully understand and are willing to assume the risks associated with such products. Neither Spectra Markets nor any of its directors, officers, employees, representatives, or agents, accept any liability whatsoever for any direct, indirect, or consequential losses (in contract, tort or otherwise) arising from the use of this material or reliance on the information contained herein, to the fullest extent allowed by the law.

The opinions expressed in all material represent the current, good faith views of the author at the time of publication. Any information contained in all material is not and should not be regarded as investment research or derivatives research as determined by the U.S. Securities and Exchange Commission (“SEC”), the U.S. Commodity Futures Trading Commission (“CFTC”), the Financial Industry Regulatory Authority (“FINRA”), the National Futures Association (“NFA”) or any other relevant regulatory body. The author is currently employed at a trading desk. The opinions may not be objective or independent of the interests of the author. Additionally, the author may have consulted with various trading desks while preparing this material and a trading desk may have accumulated positions in the financial instruments or related derivatives products that are the subject of this material.

Spectra Markets does not guarantee the accuracy, adequacy or completeness of the information presented in all material. Past performance and simulation data do not necessarily indicate future performance. Predictions, opinions, and other information contained in this material are subject to change continually and without notice of any kind and may no longer be true after the date indicated. Any forward-looking statements speak only as of the date they are made, and Spectra Markets assumes no duty to and does not undertake to update forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Actual results could differ materially from those anticipated in forward-looking statements. The value of any investment may also fluctuate as a result of market changes.

Spectra Markets is affiliated with Spectra FX Solutions LLC, an introducing broker that is registered with the NFA; Spectra FX Solutions LLP, which is a registered entity with the U.K.’s Financial Conduct Authority; and SpectrAxe, LLC, a swap execution facility that is registered with the CFTC. The disclosures for Spectra FX Solutions LLC and Spectra FX Solutions LLP related to the separate businesses of Spectra FX can be found at http://www.spectrafx.com/.