HOW IT WORKS

• Submit your forecasts for different instruments for any dates between 1 week to 1 month from now. The currency pairs currently covered: EURUSD, GBPUSD, USDJPY, AUDUSD & USDINR. We are also introducing SENSEX in the mix starting January 2017 as it's a popular index and crucial macroeconomic indicator.
  • Once you have made a submission, you cannot make any changes to it. So please be careful while submitting your forecasts.
  • The 1 week to 1 month window keeps rolling so 1 week from today date will no longer be available for input the next day. So please make sure you are managing your submissions prudently.
• Everyday, the platform will use the fixings for that day to calculate scores for all the submissions and add to the cumulative scores of users. Scores will be tracked on a monthly, annual and inception till date basis.
• For the fixings, we'll use the fix at 2PM CET (Central European Time) as the reference rate for all the currency pairs except USDINR for which we'll use the RBI fix starting from 2nd January 2017, and the day's closing price for Sensex.
• The Platform will determine the daily Fixings for different currencies in a reasonable and good faith manner. The Platform may opt to inform the source and time of the Fixings to the Users at its own discretion and may opt to change the source and time of the Fixings at any time. The Fixings will be final and binding and cannot be contested.
• Scores will be calculated based on different parameters including (but not limited to) accuracy compared to peers and actual fix, realized volatility, length of the forecasting time horizon etc. The scores calculated by the Platform are final and binding and cannot be contested.
• From time to time, the Platform may announce contests based on one of the score types ('MTD','YTD','ITD') and the accompanying incentive structure for the top performers. Your scores will help you build community reputation which should work as additional incentive.
• You can see the platform projections for the dates that you have already submitted your forecasts for. On top of that, for each projection date, you can check the submissions of the top 10 forecasters (Inception till date) for that currency.
• The platform will use its proprietary set of algorithms to calculate its own projections based on the submissions of its members.
• A few key points related to the distribution of any cash incentives:
  • Any cash incentives will be distributed in Singapore dollars and recipients living abroad will bear any transaction costs, currency conversion costs etc.
  • All taxes associated with the receipt or use of the cash incentives are the sole responsibility of the recipient. In the event that the awarding of the cash incentives of the contest is challenged by any Authority, FXTURF reserves the right, in its sole discretion, to determine whether or not to award or adjust such cash incentives, which shall be in compliance with the Applicable Law.
  • All cash incentives may be subject to deduction of tax at source ("TDS") as per the provisions of the relevant laws in the recipient's country of residence. The recipient shall be responsible for payment of any other tax/ cess/ surcharge under the Applicable Law, including but not limited to, gift tax, etc. in respect of the cash incentive.