Acceptable Use Policy

Narion Research Technologies is an individual business and sole proprietorship owned and operated by its founder, conducting business under the trade name "Narion Research Technologies" in accordance with the laws of the Republic of India. Narion develops, operates, and maintains a proprietary quantitative market intelligence and analytics platform designed to serve the financial research and analytics community. Narion is not a company, corporation, or registered legal entity, and all obligations arising under this Policy are the direct obligations of the individual Proprietor in their personal capacity.

The primary purpose of this Acceptable Use Policy is to establish a clear, comprehensive, and legally enforceable framework governing the standards of conduct expected of all persons and entities accessing and using the Platform:

• Platform Integrity: To protect the technical integrity, operational reliability, and continuous availability of the Platform and its underlying infrastructure, data pipelines, and computational systems against unauthorized access, abuse, exploitation, and deliberate or negligent interference;
• Intellectual Property Protection: To safeguard Narion's substantial investment in the development of proprietary algorithms, statistical models, data structures, methodologies, and analytical frameworks that constitute the Platform's core intellectual property and competitive value;
• Data Protection and Confidentiality: To ensure that all data, outputs, and information accessible through the Platform are handled in accordance with the applicable contractual, statutory, and regulatory obligations governing data protection, confidentiality, and intellectual property rights;
• Legal Compliance: To ensure that the Platform is used exclusively in conformity with all applicable laws, regulations, regulatory directives, and professional standards, and to prevent the Platform from being used as an instrument for the commission of any unlawful act;
• Enforcement Framework: To provide a clearly articulated framework of prohibited conduct and corresponding consequences that Narion may invoke in the event of Policy violations.

This Policy applies in its entirety, without limitation or exception, to all natural persons accessing or using the Platform in any capacity; all legal entities and organizations accessing the Platform through their authorized personnel; all means of access to the Platform including web-based, mobile-based, and API endpoints; all activities conducted in connection with the Platform; and all persons granted temporary, trial, complimentary, or otherwise non-standard access to the Platform.

This Policy must be read alongside and interpreted consistently with the Terms of Service (the primary contractual instrument, which prevails in the event of inconsistency), the Privacy Policy, the API Usage Policy, and the Subscription and Billing Policy — all of which are incorporated by reference.

In this Policy: the singular includes the plural and vice versa; references to any statute include amendments and re-enactments; headings are for convenience only; "including" means "including without limitation"; "directly or indirectly" means whether through the User's own actions or through the facilitation, enablement, procurement, or authorization of any third party's actions; and the word "shall" denotes a mandatory obligation.

Subject to the User's subscription tier and strict compliance with this Policy, the Platform is made available for the following Authorised Purposes:

• Quantitative Market Research: Use of the Platform's analytical outputs, data feeds, and visualization tools to conduct proprietary quantitative research for the User's own internal research objectives;
• Internal Business Intelligence: Use of Platform outputs to inform the User's own internal business, risk management, trading strategy, or investment research decisions, entirely internally without onward disclosure to third parties;
• Back-Testing and Strategy Development: Use of Platform data and analytical outputs to develop, test, validate, and refine proprietary trading strategies or analytical frameworks for the User's internal use;
• Educational and Analytical Study: Use of the Platform for personal, non-commercial educational study of quantitative finance and market microstructure, within any educational subscription tier offered by Narion;
• Integration and Tooling for Internal Use: Development of internal scripts, tools, or applications that consume the Platform's API outputs for the User's own internal use, strictly within authorized rate limits and API usage restrictions.

The User shall not, directly or indirectly, access, attempt to access, or facilitate access to any part of the Platform to which the User has not been explicitly and validly authorized. Specifically prohibited:

• Accessing any portion of the Platform using credentials that do not belong to the User, obtained by any means including theft, phishing, or social engineering;
• Accessing features, data tiers, API endpoints, or administrative interfaces outside the scope of the User's subscription tier, even where such access may be technically achievable due to a Platform misconfiguration or vulnerability;
• Using a trial account, free tier, or promotional access to consume resources, data, or functionality designated for paid subscription tiers;
• Gaining or attempting to gain access to the accounts, dashboards, data, or sessions of other Users, regardless of the technical method employed;
• Using automated or manual techniques to probe, map, enumerate, or catalogue the Platform's architecture, endpoints, or data structures beyond the User's legitimate operational needs.

• Exploiting any known or unknown vulnerability in the Platform's code, authentication systems, API logic, or data validation mechanisms to obtain unauthorized access, data, or privileges;
• Conducting security research against the Platform, including penetration testing, fuzzing, or vulnerability scanning, without Narion's express prior written authorization;
• Circumventing, disabling, or otherwise interfering with any authentication system, encryption mechanism, rate-limiting system, IP-based access control, anti-scraping measure, CAPTCHA, or other security control;
• Retaining, exploiting, sharing, or disclosing details of any discovered vulnerability to any third party without Narion's prior written consent.

The User shall not share, transfer, sell, lend, or otherwise make available to any third party the User's account credentials, API keys, authentication tokens, or any other access mechanism, except where Narion has expressly authorized multi-seat or enterprise access. The User shall not impersonate Narion, any Narion employee or officer, any other User of the Platform, or any other person or entity in any communication or interaction connected to the Platform.

The Platform and all of its constituent elements represent the exclusive proprietary intellectual property of Narion. The User shall not, directly or indirectly:

• Reverse Engineering: Any deliberate attempt to derive, reconstruct, replicate, or infer the internal logic, source code, algorithmic design, model architecture, or computational methodology of the Platform through analysis of its outputs, behavior, interface, API responses, or any other observable characteristic;
• Decompilation and Disassembly: Any attempt to decompile, disassemble, decode, or otherwise convert any component of the Platform from its compiled, encoded, or obfuscated form into a human-readable or interpretable form;
• Probing for Internal Logic: Any systematic, repeated, or structured querying of the Platform designed to probe, map, or characterize the internal logic, decision boundaries, or output distributions of Narion's proprietary models;
• Behavioral Cloning: The use of Platform outputs to train, fine-tune, validate, calibrate, or otherwise inform any machine learning model with the intent or reasonably foreseeable effect of replicating the Platform's predictive, classificatory, or analytical capabilities.

• Engage in any systematic analysis of Platform outputs designed to infer, approximate, or reconstruct the parameters, weights, thresholds, or decision rules of Narion's underlying models;
• Publish, present, or otherwise communicate to any third party any analysis, characterization, or documentation of the Platform's algorithmic behavior, output patterns, or model architecture;
• Use the Platform's methodological approach as a template, blueprint, or reference architecture for the development of a competing analytical system;
• Share any derived understanding of the Platform's internal logic with any person who is developing or seeking to develop a competing product or service.

Narion recognizes the value of responsible security research. Researchers who identify potential security vulnerabilities are encouraged to report them to security@narionresearch.com before any public disclosure. Narion commits to acknowledging all such reports, investigating them promptly, and working cooperatively with researchers who comply with the Responsible Disclosure Policy published on Narion's website.

• Web Scraping: Use of any automated script, bot, crawler, spider, headless browser, or similar tool to extract data from any web-based interface of the Platform, where such extraction is not conducted through Narion's officially supported and authorized API;
• Bulk API Harvesting: Use of authorized API access to systematically retrieve, accumulate, and store the entire corpus of Platform data available to the User's tier, for any purpose other than genuine real-time or near-real-time Internal Use;
• Cross-Account Aggregation: Use of multiple accounts, API keys, or access credentials in coordination to aggregate data across access tiers, circumvent rate limits, or compile a dataset that no single account would be authorized to assemble;
• Dataset Mirroring: Creation of any copy, mirror, or replica of the Platform's datasets, data feeds, or historical data archives, in whole or in part, for any purpose other than transient caching necessary for the User's immediate operational requirements.

• Sell, license, sublicense, lease, exchange, or otherwise transfer Platform data or outputs to any third party, whether for monetary consideration, non-monetary consideration, or gratuitously;
• Provide Platform data or outputs as an input, component, feature, or product to any third-party commercial service, subscription product, SaaS platform, data vendor, or advisory service;
• Create, operate, or contribute to any public API, public dashboard, public data feed, or open data project through which Platform data or outputs are made accessible to persons who have not entered into a direct subscription agreement with Narion;
• Embed Platform data or outputs into any publicly accessible website, application, publication, research report, or social media content, except where Narion has specifically authorized such use in writing.

• Research reports, data products, or analytics services sold or distributed to clients or subscribers;
• Trading signals, strategy products, or quantitative research subscriptions derived from or informed by Platform outputs;
• Machine learning training datasets, benchmark datasets, or evaluation corpora compiled from Platform data;
• Academic or commercial publications that reproduce or are substantially informed by Platform data, beyond what is permitted by any applicable academic fair use doctrine, and without Narion's prior written consent.

The User shall not, without Narion's express prior written consent:

• Use the Platform or any Platform outputs as a reference benchmark, performance baseline, or evaluation standard in any report, presentation, publication, or communication directed at or intended for third parties;
• Design or conduct any structured evaluation study, comparative performance test, or head-to-head competition involving the Platform and any competing product, whether published publicly or shared with third parties;
• Publish or communicate any statistical characterization of the Platform's predictive accuracy, signal performance, reliability, or comparative advantages or limitations;
• Attribute any specific metric, classification, probability estimate, score, signal, output, or derived result generated by the Platform in any forum accessible to persons who are not authorized Users.

• Using the Platform as a data source, reference standard, or performance target for a competing quantitative analytics system;
• Using knowledge of the Platform's product design, user interface, feature set, data structures, or API architecture to inform the design of a competing product;
• Using Platform data outputs to train, calibrate, or validate any machine learning model intended for deployment in a competing commercial context.

Notwithstanding the restrictions set forth in this Article, the User may make general, non-specific reference to the existence of Narion's Platform as a tool used in the User's research process, provided that such reference does not disclose any specific metric, output, or performance characteristic of the Platform; does not attribute any specific finding or result to the Platform's outputs; does not constitute an evaluation, critique, or comparative assessment of the Platform; and is limited to a brief, factual acknowledgement. Any use beyond this narrow exception requires Narion's express prior written authorization.

Where the User's subscription includes access to Narion's API, the User shall not submit API requests at a volume or frequency exceeding the rate limits applicable to their subscription tier; shall not embed API credentials in publicly accessible code repositories; shall access only those API endpoints explicitly documented and available under their subscription tier; and shall not use multiple accounts or API keys in coordination to aggregate data or circumvent rate limits.

• Deliberate or negligent generation of excessive request loads, including retry storms, runaway automation loops, or polling patterns that place unreasonable demand on Platform infrastructure;
• Systematic probing of the API response behavior through variations in request parameters designed to map or characterize the Platform's data model or undocumented behavioral characteristics;
• Distributed Denial of Service (DDoS) attacks or any other form of volumetric, protocol, or application-layer attack designed to render the Platform unavailable or degraded;
• Introduction of malware, viruses, worms, Trojan horses, ransomware, spyware, logic bombs, backdoors, exploits, or any form of malicious software or code into any component of the Platform.

The User is responsible for storing API keys exclusively in secure, server-side environments with appropriate access controls; periodically rotating their API credentials; revoking and replacing any key that has been exposed; monitoring their own API usage for signs of unauthorized use; and reporting any compromise or suspected compromise of API credentials to security@narionresearch.com without delay.

The User shall not use the Platform, directly or indirectly, for any purpose that is unlawful, fraudulent, deceptive, tortious, defamatory, or otherwise prohibited under applicable law in any jurisdiction relevant to the User's activities. The User assumes sole and exclusive legal responsibility for ensuring that all use of the Platform complies with all applicable laws in every jurisdiction applicable to the User's activities.

• Market Manipulation: Using Platform outputs as part of any scheme to artificially influence the price, supply, demand, or perceived quality of any financial instrument, commodity, cryptocurrency, or other traded asset, including through layering, spoofing, quote stuffing, wash trading, or pump-and-dump schemes;
• Insider Trading Facilitation: Using Platform data or outputs in combination with material non-public information to trade, or to advise, assist, or facilitate trading in violation of applicable securities laws;
• Fraud and Misrepresentation: Using Platform outputs as part of any scheme to deceive, defraud, or misrepresent the nature, performance, or characteristics of any investment product, service, or strategy to any third party;
• Unlicensed Advisory Services: Providing advice, recommendations, or trading signals derived from Platform outputs to third-party clients in any jurisdiction where the provision of such services requires a regulatory license that the User does not hold;
• Sanctions Violations: Transacting in or facilitating transactions involving any person or entity listed on any applicable sanctions list, or providing any Platform access to any person in a jurisdiction subject to comprehensive trade sanctions or financial embargoes.

The User shall not use the Platform or any communication channel provided by Narion to engage in any form of harassment, intimidation, abuse, defamation, or threatening behavior. The User is solely responsible for ensuring that all use of the Platform complies with all applicable regulatory requirements in every jurisdiction relevant to the User's activities, including requirements governing financial market data, investment research, data protection, and anti-money laundering obligations.

The security of the Platform depends not only on the technical measures implemented by Narion but also on the security practices adopted by each individual User. Each User bears a direct and non-delegable obligation to implement and maintain appropriate security practices in connection with their use of the Platform. The failure to maintain adequate security is itself a breach of this Policy, regardless of whether any actual harm results from such failure.

The User shall: select a password that meets Narion's minimum strength requirements and not reused from any other service; not share, disclose, or make available their account password to any other person under any circumstances; enroll in multi-factor authentication where offered and where Narion makes it mandatory; store API keys and authentication tokens exclusively in secure, server-side environments and encrypted configuration stores; and implement the principle of least privilege, using credentials with the minimum scope necessary for the User's intended integration.

The User shall notify Narion immediately upon becoming aware, or having reasonable grounds to suspect, any unauthorized access to their account; compromise, exposure, or unauthorized disclosure of any API key or authentication token; or discovery of any security vulnerability in the Platform.

The User acknowledges that all activity occurring through the User's account is the User's responsibility, regardless of whether such activity was authorized by the User; that Narion is not liable for any loss or harm suffered as a result of the User's failure to maintain adequate account or API credential security; and that the User may be held liable for losses suffered by Narion or other Users caused or materially contributed to by the User's failure to comply with the security obligations set forth in this Article.

Narion reserves the right to monitor, log, analyze, and investigate activity on and through the Platform for purposes of ensuring compliance with this Policy, detecting and responding to security threats, maintaining Platform integrity and availability, and fulfilling Narion's legal and regulatory obligations. Monitoring activities may include automated logging of all API requests, automated detection of usage patterns that deviate from established norms, manual review of usage logs, and use of third-party security tools. The User acknowledges that such monitoring constitutes a necessary and proportionate measure to protect the legitimate interests of Narion and all Platform Users.

The specific consequence or combination of consequences applied shall be determined by Narion at its sole discretion, having regard to the nature, severity, duration, and impact of the violation:

The User has a positive obligation under this Policy to report to Narion any known or suspected violation of this Policy by any other User or third party, including discovery of evidence that another User is engaged in scraping, unauthorized redistribution, or systematic extraction of Platform data; discovery of evidence that credentials or access to the Platform have been compromised; or receipt of unsolicited offers to purchase or exchange Narion Platform data or outputs from persons who appear to be redistributing such data in violation of this Policy.

All violation reports should be submitted to security@narionresearch.com. Reports may be submitted anonymously. Narion shall investigate all reports received in good faith and shall maintain appropriate confidentiality regarding the identity of the reporting User where requested.

Narion operates a Responsible Disclosure Policy (RDP) for the reporting of security vulnerabilities. Researchers who discover potential vulnerabilities are protected from legal liability provided they: report the vulnerability to security@narionresearch.com before any public disclosure; do not exploit the vulnerability beyond what is strictly necessary to demonstrate its existence; do not access, copy, modify, destroy, or disclose any data encountered during investigation; do not conduct any testing on live production systems without Narion's explicit prior written authorization; and provide Narion with not less than ninety (90) calendar days from the date of initial report to investigate and remediate before any public disclosure.

Narion shall not retaliate against any User who, in good faith, reports a suspected violation of this Policy, submits a security vulnerability report under the RDP, or cooperates with Narion's investigation of a suspected violation.

Narion reserves the right to amend, modify, supplement, or replace this Policy at any time, at its sole discretion, to reflect changes in Platform capabilities, applicable law, regulatory guidance, security threat landscape, or Narion's operational requirements. All modifications shall be effective from the date of publication on Narion's official website, unless a later effective date is specified.

Where a proposed modification constitutes a material change to this Policy, Narion shall provide advance notice of not less than fourteen (14) calendar days before the modified Policy takes effect, by: email notification to the registered account email address describing the nature of the material changes; prominent notice on the Platform's dashboard or relevant administrative pages; and, where required by applicable law, an affirmative acceptance mechanism prior to continued Platform access under the modified Policy.

Where the User continues to access or use the Platform following publication of a modified Policy without objecting, such continued use constitutes acceptance of the modified Policy. Users who object to a material modification may terminate their subscription and cease use of the Platform in accordance with the Terms of Service.

This Policy is a component of and supplements the Terms of Service. The rights, obligations, and consequences described in this Policy are in addition to and not in lieu of those set forth in the Terms of Service. All enforcement rights available to Narion under the Terms of Service, including the right to terminate access for cause, the right to seek damages, and the right to seek injunctive relief, apply cumulatively with the rights set out in this Policy.

If any provision of this Policy is held by a court of competent jurisdiction to be invalid, illegal, or unenforceable, such provision shall be modified to the minimum extent necessary to make it valid and enforceable; the remaining provisions shall not be affected. Any failure or delay by Narion in exercising any right under this Policy shall not operate as a waiver of that right. This Policy shall be governed by and construed in accordance with the laws of the Republic of India, and all disputes shall be subject to the exclusive jurisdiction of the courts located in New Delhi, India.

For questions regarding this Policy, suspected violations, security reports, or any other matter related to acceptable use: