1. Organizer

The organizer of the stock trading simulation / investment competition ("Competition") is QUINETICS GmbH, represented by its managing director Fabian Rohloff, Eppenbacher Str. 2, 35789 Weilmünster, Germany.

2. Schedule and Competition Flow

Users can view the competition schedule during registration on the QUINETICS website. The following information is displayed:

• Competition start date
• Registration deadline
• Competition end date
• Prize information (if applicable)

Registration is possible until 23:59 UTC of the specified registration deadline.

The final valuation takes place at 04:00 UTC on the morning after the competition end date. The latest available closing prices are used (e.g., Friday prices if the end date falls on a weekend).

2.1 Interim Valuation

All portfolios receive daily interim valuations based on the latest available closing price from our data provider (EOD Historical Data).

2.2 Final Valuation

The final valuation takes place on the morning after the competition end date. The last available closing prices are used (e.g., Friday prices if the end date falls on a weekend).

3. Prizes and Awards

Prizes are only awarded if explicitly stated during registration. Winners will be notified by email.

4. Participation Requirements

4.1 General Participation

• Participants must be at least 18 years old at the time of registration.
• Participants must have a valid QUINETICS user account.
• Each person may only participate with one account. Multiple accounts are prohibited and will result in disqualification.
• Participation is free of charge.
• Providing false information during registration will result in exclusion and disqualification.

4.2 Prize Eligibility

To be eligible for any advertised prizes, participants must additionally:

• Be a resident of Germany (confirmed during identity verification).
• Complete the identity verification process before the competition ends (see Section 12).
• Be at least 18 years old, verified by official ID.

5. Game Rules

Participants can select available competitions on the user interface and click "Join". The virtual starting capital is displayed on the website during registration.

For each competition, participants can view the leaderboard, their current portfolio, the order interface, and their communities.

The objective of the competition is to achieve the best Sharpe ratio among all participants through buying and selling securities.

5.1 Virtual Capital

Upon joining an active competition, each participant receives a virtual portfolio with the specified starting capital (default: 100,000 EUR). This capital is not real money and cannot be withdrawn or converted to real currency.

The virtual capital does not earn interest. Portfolios cannot be overdrawn.

5.2 Tradable Securities

A selection of securities is available for the competition. This selection can be expanded by QUINETICS at any time, including during an ongoing competition. Participants can trade stocks from US and European markets available on the QUINETICS platform.

6. Trading

6.1 Order Placement

When trading, you specify the quantity. The estimated value is displayed. Orders can be placed at any time, regardless of stock exchange hours.

Orders are charged against the expected cash balance until execution. This means that capital required for open buy orders is temporarily reserved and not available for further orders.

6.2 Order Execution

• Orders are executed with a minimum delay of approximately 15 minutes after placement to ensure fairness and prevent exploitation by participants with faster price data.
• Orders are executed at the first available closing price after the delay period expires.
• All stock prices are converted to EUR for portfolio valuation.
• Open orders can be cancelled before execution.
• No orders are executed after the competition ends. All remaining open orders are automatically cancelled.

6.3 Partial Order Execution

Since prices can change between order placement and execution, the actual execution price may differ from the estimated price at the time of order placement. If the available virtual balance is insufficient to fully execute a buy order at the time of execution, the following applies:

• The system calculates the maximum purchasable quantity based on available balance and actual execution price.
• If shares can be purchased, the order is executed fully or partially for the maximum purchasable quantity. Orders support fractional shares, so partial execution may result in fractional share quantities.
• If no shares can be purchased (e.g., if the price has risen significantly), the order is marked as failed.

6.4 Order Types

Currently, limit orders and stop orders are not available. All orders are executed as market orders.

6.5 Fees

No order fees are charged. QUINETICS reserves the right to introduce spreads and trading fees in the future.

7. Corporate Actions

QUINETICS processes corporate actions automatically for all positions held in the portfolio before the record date.

7.1 Dividends

Dividend payments are credited to the virtual balance on the ex-dividend date. The amount equals the number of shares held multiplied by the dividend per share, converted to EUR.

7.2 Stock Split

In a split, the share quantity is multiplied by the split factor. Example: In a 2:1 split, the quantity doubles. Fractional shares are preserved.

7.3 Reverse Split

In a reverse split, the share quantity is reduced accordingly. Example: In a 1:10 reverse split, the quantity is divided by 10. Fractional shares are also preserved.

8. Price Data and Accuracy

8.1 Price Delays

Prices may be delayed and may not reflect real-time market conditions. Closing prices used for order execution are determined by our data providers and may differ from prices on other platforms.

8.2 Price Corrections and Corporate Actions

Occasionally, price data may be incorrect or distorted due to:

• Stock splits, reverse splits, or other corporate actions
• Data provider errors or delays in processing corporate actions
• Technical issues with data feeds

In such cases the following applies:

• QUINETICS will make reasonable efforts to correct distorted prices when identified.
• Participants should wait for price corrections before making trading decisions based on obviously incorrect prices.
• QUINETICS reserves the right to reverse or adjust trades executed at clearly erroneous prices.
• No compensation is provided for disadvantages arising from price data issues.

8.3 Currency Conversion

Securities traded in USD or other currencies are converted to EUR using exchange rates from our data providers. These rates may also be subject to delays or inaccuracies.

9. Leaderboards

Leaderboards are calculated overnight based on total portfolio values and are available the next day. Leaderboards are published in each participant's personal competition area.

9.1 Identification

Players are identified by their fictional, self-chosen usernames. The full name is not publicly displayed.

9.2 Primary Ranking Metric

Participants are ranked by Sharpe Ratio, which measures risk-adjusted returns. This rewards consistent performance rather than high returns achieved through excessive risk.

The Sharpe Ratio is calculated using:

• Annualized returns based on daily portfolio returns (252 trading days per year)
• The current yield of the 10-year German government bond as the risk-free rate
• Annualized volatility based on the standard deviation of daily returns

9.3 Tiebreaker Rules

In case of equal Sharpe Ratio:

1. The participant with the higher total return percentage wins the higher rank.
2. If both Sharpe Ratio and total return are identical, prizes for the tied positions are pooled and divided equally among the tied participants.

9.4 Leaderboard Views

Participants can choose to display only verified participants or all participants in the leaderboard.

10. Winners and Prizes

Prizes are only awarded if explicitly announced before registration.

10.1 Winner Determination

Winners are the individual players who achieve the best Sharpe Ratio at the end of the competition. In case of a tie, the rules from Section 9.3 apply.

10.2 Notification

Winners are notified by email. In the case of cash prizes, the winner will be contacted and should then provide a valid IBAN for payout via SEPA transfer.

10.3 Response Deadline

Winners have 30 days after notification to provide their bank details. After this deadline, the prize claim expires.

11. Leaving a Competition

Participants can voluntarily leave competitions:

• Leaving a competition permanently deletes all associated data (holdings, trades, orders, snapshots).
• Leaving a prize-eligible competition results in forfeiture of all potential prizes.
• Rejoining a competition after leaving is not possible. Once you leave a competition, you can no longer participate in that competition. Participation in other competitions remains possible.

12. Verification for Prize Eligibility

12.1 Verification Requirements

To be eligible for prizes, participants must complete identity verification before the competition ends by submitting:

• A clear photo or scan of a valid government-issued ID (passport, ID card, or driver's license)
• Confirmation of age (18+)
• Proof of residence in Germany (confirmed by utility bills / registration certificates if not stated on ID)

12.2 Verification Process

In the competition area, you will find an upload button for verification documents. Upload the required documents there.

The process:

1. Upload: Upload documents via the upload button in the frontend
2. Review: QUINETICS staff manually review the submitted documents (up to 5 business days)
3. Result: You will receive a notification whether the verification was successful or rejected

• QUINETICS reserves the right to reject any verification submission without stating reasons.
• If rejected, you can upload corrected documents again.
• Re-verification is required for each competition with prizes.

12.3 Retention of Identity Documents

Identity documents are deleted after the competition ends. In case of prize payouts, documents are stored in accordance with legal retention requirements.

Participants can request early deletion of their identity documents, which results in loss of prize eligibility.

13. Communities

Participants can create or join trading communities:

• Each participant can create up to 5 communities. Communities are independent of competitions.
• Communities can be public or password-protected (private).
• Community performance is measured by the weighted average return and aggregated Sharpe Ratio of all members.
• Community rankings are separate from individual rankings. No prizes are awarded for community rankings.

14. Settlement Information and Complaints

14.1 Settlement Information

All orders and special events are documented upon settlement. This information is then available in the portfolio.

14.2 Complaints

For discrepancies in your portfolio or order executions, you can submit a complaint via the contact form. Please describe the issue and attach relevant screenshots.

QUINETICS reviews all complaints and informs you of the result. Complaints must be submitted before the competition ends.

15. Prohibited Behavior

The following actions are prohibited and may result in disqualification:

• Creating or using multiple accounts
• Submitting false or forged verification documents
• Exploiting bugs, errors, or technical issues in the platform
• Intentionally trading based on known erroneous price data
• Colluding with other participants to manipulate the leaderboard
• Any form of market manipulation or abuse
• Violating the QUINETICS Terms and Conditions

16. Disqualification

• QUINETICS reserves the right to disqualify any participant who violates these terms and conditions and game rules.
• Disqualified participants forfeit all prizes and may be excluded from future competitions.
• QUINETICS decisions regarding disqualification and prize distribution are final.

17. Changes to Rules

QUINETICS reserves the right to change these terms and conditions at any time. Changes are published on the website and take effect immediately. For significant changes during an ongoing competition, participants will be notified by email at least 24 hours before the change.

18. Account Deletion

Deleting your QUINETICS account permanently deletes all competition data. By deleting your account, you forfeit all prize claims from ongoing or completed competitions.

19. Privacy Notice

Fictional usernames and competition results may be used in public leaderboards and marketing materials by QUINETICS. Real names will not be published without the express consent of the participant.

For more information on data processing, see our Privacy Policy.

20. Disclaimer of Liability

By participating, you acknowledge:

• The competition is a simulation. No real stock trading takes place.
• The virtual portfolio is not a real brokerage account. Profits and losses are purely fictional.
• QUINETICS does not provide investment advice. Competition results are not recommendations for real investments.

QUINETICS is not liable for:

• Incorrect or delayed price data from third-party providers
• Technical failures, server outages, or data loss
• Content of linked websites
• Tax consequences arising from prize payouts

QUINETICS total liability is limited to the respective prize value.

21. Severability Clause

If any provision of these terms and conditions is or becomes invalid, the validity of the remaining provisions shall not be affected. The invalid provision shall be replaced by a valid provision that comes closest to the economic purpose of the invalid provision.

22. Applicable Law

These rules are governed by the laws of the Federal Republic of Germany. The courts in Germany have exclusive jurisdiction for all disputes arising from the competition.

Legal recourse is excluded.

23. Contact

For questions about the competition or these rules, please contact:

QUINETICS GmbH
Eppenbacher Str. 2
35789 Weilmunster, Germany
Email: support@quinetics.net