Market data usage license

LONA™ provides users with market data and historical prices of financial instruments ("Market Data") from third-party providers. LONA™ grants the User a non-exclusive, non-transferable, and non-sublicensable right to use the Market Data, limited to their internal business or personal use and solely for the purpose of conducting analyses, simulations, and backtests within the platform. This right of use is subject to the restrictions, prohibitions, and exclusions set forth in the following clauses. The User does not acquire any ownership rights to the Market Data, which remains the property of its respective providers.

Resale, redistribution or sublicensing is prohibited.

Resale, distribution and sublicensing of Market Data is not permitted.

Application of usage restrictions

Without reverse engineering or analysis of source code, algorithms, file formats or interface protocols;
Copying, modifying, adapting or translating the data is not permitted;
Do not make the Market Data available on a "service bureau" basis;
Do not disclose information to unauthorized third parties;
Removal of proprietary marks is not permitted;
Do not use the Market Data in violation of applicable law;
Do not interfere with the integrity of the service;
Circumventing usage limits is not permitted; and
Comparative analysis, competitive analysis, publishing data analysis, or developing a competitor's product are not permitted.

Permitted outputs

Users can "create, display, share and distribute trading strategies, backtest results, performance metrics, signals, rankings and other derived analytical results", as long as they do not replace Tiingo data or can be used to reconstruct it.

Reference proxies

LONA™ will use ETFs as proxy indicators or surrogates for total return benchmarks. This means that the results will be very similar to those obtained with actual total return benchmarks, but will not be mathematically identical.

Termination of access and deletion of Market Data

Upon account closure, termination of access to the service, or cessation of service provision by LONA™, the user must cease using and delete or destroy any Market Data in their possession, including trade records, historical prices, and entry and exit prices derived directly from the Market Data. The user may retain the results of strategies, simulations, backtests, performance metrics, and derived indicators created from the Market Data, provided that such information does not contain the Market Data in its original form and does not allow for its reconstruction or reverse engineering. Furthermore, if LONA™ changes its data provider, the user may lose, in whole or in part, the results of previous simulations; LONA™ will notify the user of this in a reasonable timeframe.

Export restriction

Bulk export of Market Data from the platform is not permitted. Limited export capabilities (e.g., to Excel) are allowed, provided the amount of data exported is limited to one or a few instruments or tickers. Any data exported by the user may only be used for personal research purposes and may not be resold, redistributed, sublicensed, or made available to third parties.

Responsibility

LONA™ is not responsible, under any circumstances, for damages of any kind that may be caused, including but not limited to: errors or omissions in the content, lack of availability of the portal or the transmission of viruses or malicious programs in the content, despite having adopted all the necessary technological measures to prevent it.
Tiingo provides the market data.
LONA™ has the right to make, at any time and without prior notice, modifications and updates to the information contained in the application, its configuration, availability and presentation.

Terms and Conditions