THE INFORMATION AND DATA SET FORTH HEREIN IS FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE INVESTMENT ADVICE OR A SOLICITATION OF ANY KIND TO BUY OR SELL ANY CASH OR DERIVATIVE INSTRUMENT IN ANY OF THE UNDERLYING MARKETS. MACRO CODEX DATA DOES NOT WARRANT OR MAKE REPRESENTATIONS CONCERNING THE ACCURACY, LIKELY RESULTS OR RELIABILITY OF THE USE OF THE INFORMATION AND DATA CONTAINED HEREIN. PAST RESULTS OF ANY TRADING OR INVESTMENT STRATEGY PUBLISHED OR REFERENCED ARE NOT INDICATIVE OF FUTURE RETURNS AND NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE BEING SHOWN.

THE INFORMATION AND DATA PROVIDED IN THE SERVICES IS GENERAL AND IMPERSONAL IN NATURE AND IS NOT TAILORED TO ANY PARTICULAR SUBSCRIBERS SPECIFIC NEEDS AND IS MADE AVAILABLE “AS IS” WITHOUT WARRANTIES, EXPRESSED OR IMPLIED INCLUDING WITHOUT LIMITATION, IMPLIED WARRANTIES OR CONDITIONS OF FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF INTELLECTUAL PROPERTY OR OTHER VIOLATION OF RIGHTS. MACRO CODEX DATA IS NOT A FINANCIAL SERVICES FIRM, REGISTERED INVESTMENT ADVISOR, CERTIFIED FINANCIAL PLANNER, COMMODITY TRADING ADVISOR OR LICENSED TO TRADE IN SECURITIES OF ANY KIND.

ALL USERS OF THE SERVICES ARE RECOMMENDED TO USE MULTIPLE SOURCES OF INFORMATION AND VARIOUS INFORMATIONAL PRODUCTS AND SERVICES, SEPARATE FROM THE SERVICES PROVIDED HEREIN, TO RESEARCH POTENTIAL INVESTMENTS. THE SERVICES PROVIDED SHOULD BE USED ONLY AS A RESOURCE FOR CONDUCTING INDEPENDENT RESEARCH IN ORDER TO ALLOW YOU TO FORM YOUR OWN OPINION REGARDING INVESTMENTS OR TRADES AND YOU ARE STRONGLY ADVISED TO CONSULT A REPUTABLE FINANCIAL SERVICES PROFESSIONAL REGARDING YOUR PERSONAL SITUATION AS TO WHETHER A PARTICULAR INVESTMENT OR TRADE MAKES SENSE WITHIN THAT CONTEXT.

CFTC RULE 4.41 – THE STATISTICAL AND GRAPHICAL INFORMATION PRESENTED IS BASED ON QUANTITATIVE ANALYSIS OF HISTORICAL DATA AND IS SUBJECT TO CERTAIN INHERENT LIMITATIONS AND NO REPRESENTATION IS BEING MADE THAT THE GRAPHICAL AND STATISTICAL RESULTS ILLUSTRATED WILL RECUR IN THE FUTURE. THESE RESULTS DO NOT REPRESENT ACTUAL TRADING AND ARE NOT ADJUSTED FOR COMMISSIONS AND SLIPPAGE. IN ADDITION, BECAUSE THESE STRATEGIES HAVE NOT ACTUALLY BEEN EXECUTED, THESE RESULTS MAY HAVE UNDER OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED OR HYPOTHETICAL TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE BEING SHOWN.

THE RISK OF LOSS IN TRADING COMMODITY FUTURES AND OPTIONS 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 FUTURES CONTRACT OR SELL A COMMODITY OPTION OR ENGAGE IN OFF-EXCHANGE FOREIGN CURRENCY TRADING YOU MAY SUSTAIN A TOTAL LOSS OF THE INITIAL MARGIN FUNDS OR SECURITY DEPOSIT 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.’’ PLACING CONTINGENT ORDERS, SUCH AS ‘‘STOP-LOSS’’ OR ‘‘STOP-LIMIT’’ ORDERS, WILL NOT NECESSARILY LIMIT YOUR LOSSES TO THE INTENDED AMOUNT, 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. BECAUSE OF THE SMALL MARGIN REQUIREMENTS, THIS BRIEF STATEMENT CANNOT DISCLOSE ALL THE RISKS AND OTHER SIGNIFICANT ASPECTS OF THE COMMODITY MARKETS. FOR MORE DETAIL PLEASE READ FULLY THE TERMS OF SERVICE AVAILABLE ON THE HOMEPAGE.