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Terms of Service

Last updated: February 2026

1. Agreement to Terms

These Terms of Service ("Terms") constitute a legally binding agreement between you ("Client", "you", or "your") and Snowtrail Research Ltd ("Snowtrail", "we", "our", or "us"). By accessing or using the Snowtrail Research platform, API, SDK, data feeds, or any related services (collectively, the "Services"), you agree to be bound by these Terms. If you are entering into these Terms on behalf of an organisation, you represent that you have the authority to bind that organisation. If you do not agree to these Terms, you must not use the Services.

2. Description of Services

Snowtrail Research provides commodities market analytics, including derived data products such as signals, events, features, and backtests covering energy markets including natural gas, LNG, and power. The Services are delivered through the following channels:

  • REST API -- programmatic access to analytics data, subject to rate limits enforced by our API gateway
  • Python SDK -- a client library published to PyPI for integration into Client workflows
  • S3 Data Delivery -- direct file-based delivery of datasets to Client-designated AWS S3 buckets

The specific products, delivery channels, and usage entitlements available to you are defined in your subscription agreement or order form executed with Snowtrail.

3. Acceptable Use

You agree to use the Services only for your own internal business purposes and in accordance with these Terms. You agree not to:

  • Redistribute, resell, sublicense, or otherwise make the Services or any data obtained through the Services available to any third party
  • Use the data to build, train, or operate a competing analytics product or service
  • Systematically download, scrape, or cache data beyond what is reasonably necessary for your permitted use
  • Share API keys, credentials, or access tokens with unauthorised individuals or systems
  • Attempt to reverse-engineer, decompile, or otherwise extract the underlying models, algorithms, or methodologies
  • Attempt to gain unauthorised access to our systems, networks, or other clients' data
  • Use the Services in any way that violates any applicable law or regulation
  • Transmit malicious code, interfere with service operations, or conduct denial-of-service attacks

4. API Usage and Rate Limits

API access is subject to fair use rate limits enforced by our API gateway. Rate limits are defined in your subscription agreement. Snowtrail reserves the right to throttle or temporarily suspend access if usage patterns are deemed excessive, abusive, or inconsistent with the intended use of the Services. We will make reasonable efforts to notify you before taking such action except where immediate action is necessary to protect the integrity of the platform.

5. Data Rights and Ownership

Snowtrail Analytics Data. All derived analytics produced by Snowtrail -- including but not limited to signals, events, features, backtests, indices, and any computed or modelled outputs -- are the exclusive property of Snowtrail Research. Your subscription grants you a limited, non-exclusive, non-transferable licence to use this data for your internal business purposes during the term of your subscription.

Raw Source Data. Certain data delivered through the Services may originate from third-party sources (including but not limited to government agencies, exchanges, and data vendors). Such data is subject to the terms and conditions of the original data provider. Snowtrail makes no claim of ownership over raw third-party data and provides it on an as-available basis.

Client Data. You retain all rights to any data you provide to Snowtrail. We will only use Client-provided data as necessary to deliver the Services and will not share it with third parties except as required by law.

6. Intellectual Property

All intellectual property rights in and to the Services -- including all models, algorithms, signal methodologies, scoring frameworks, analytical techniques, software, documentation, trademarks, and trade secrets -- are and shall remain the exclusive property of Snowtrail Research. Nothing in these Terms grants you any right, title, or interest in our intellectual property beyond the limited licence to use the Services as described herein. You may reference Snowtrail Research as a data provider in your internal materials but may not use our name, logo, or trademarks in any public-facing materials without our prior written consent.

7. Disclaimers

THE SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

Not investment advice. The data, signals, analytics, and other outputs provided through the Services are for informational and analytical purposes only. They do not constitute investment advice, trading recommendations, or a solicitation to buy or sell any financial instrument or commodity. Snowtrail Research is not a registered investment adviser, broker-dealer, or commodity trading adviser.

No guarantee of accuracy. While we use commercially reasonable efforts to ensure data quality and accuracy, Snowtrail does not warrant that the data will be error-free, complete, or current. Historical performance data and backtest results are not indicative of future results.

Trading risk. Trading in commodities and related financial instruments involves substantial risk of loss and is not suitable for all market participants. You are solely responsible for your own trading and investment decisions.

8. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, SNOWTRAIL RESEARCH SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, LOSS OF DATA, TRADING LOSSES, BUSINESS INTERRUPTION, OR LOSS OF GOODWILL, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF (OR INABILITY TO USE) THE SERVICES, REGARDLESS OF THE THEORY OF LIABILITY.

SNOWTRAIL'S TOTAL AGGREGATE LIABILITY UNDER THESE TERMS SHALL NOT EXCEED THE AMOUNTS PAID BY YOU TO SNOWTRAIL DURING THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM. THIS LIMITATION APPLIES WHETHER THE CLAIM IS BASED ON CONTRACT, TORT, STRICT LIABILITY, OR ANY OTHER LEGAL THEORY.

9. Service Availability

Snowtrail uses commercially reasonable efforts to maintain the availability of the Services. However, we do not guarantee uninterrupted access. The Services may be temporarily unavailable due to:

  • Scheduled maintenance -- we will provide reasonable advance notice where practicable
  • Unscheduled maintenance required to address security vulnerabilities or critical issues
  • Factors outside our reasonable control, including third-party infrastructure failures, force majeure events, or upstream data source outages

Specific service level commitments, if any, are defined in your subscription agreement.

10. Confidentiality

Each party agrees to keep confidential any non-public information received from the other party in connection with the Services, including pricing, technical specifications, and business terms. Confidential information shall not be disclosed to third parties without the disclosing party's prior written consent, except as required by law or regulation. This obligation survives termination of these Terms for a period of two (2) years.

11. Term and Termination

These Terms remain in effect for the duration of your subscription. Either party may terminate the subscription:

  • For convenience -- with thirty (30) days' prior written notice to the other party
  • For cause -- immediately upon written notice if the other party materially breaches these Terms and fails to cure such breach within fifteen (15) days of receiving notice of the breach

Snowtrail may also suspend or terminate your access immediately and without notice if:

  • You breach the Acceptable Use provisions of these Terms
  • Your use poses a security risk to the platform or other clients
  • Suspension is required to comply with applicable law

Upon termination, your right to access the Services ceases immediately. Sections relating to intellectual property, disclaimers, limitation of liability, confidentiality, and governing law survive termination.

12. Changes to Terms

We may update these Terms from time to time. We will notify you of material changes by email or by posting a prominent notice on our website at least thirty (30) days before the changes take effect. Your continued use of the Services after the effective date of revised Terms constitutes your acceptance of the changes.

13. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of England and Wales, without regard to conflict of law principles. Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of England and Wales.

Before initiating formal proceedings, the parties agree to attempt to resolve any dispute through good-faith negotiation for a period of at least thirty (30) days.

14. General Provisions

Entire Agreement. These Terms, together with any applicable subscription agreement or order form, constitute the entire agreement between you and Snowtrail with respect to the Services and supersede all prior agreements and understandings.

Severability. If any provision of these Terms is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

Assignment. You may not assign or transfer your rights or obligations under these Terms without our prior written consent. Snowtrail may assign these Terms in connection with a merger, acquisition, or sale of all or substantially all of its assets.

Waiver. No failure or delay by either party in exercising any right under these Terms shall constitute a waiver of that right.

15. Contact Us

If you have questions about these Terms, please contact us at:

Snowtrail Research
Email: legal@snowtrail.ai
General enquiries: info@snowtrail.ai