This Master User Agreement is entered into between you ("User" or "Trader") and Crucible Technologies Private Limited (Production Edition, engineered by Priyankit Raj).
Effective Date: August 2026 • Multi-Market Architecture (US Markets · NYSE/NASDAQ & Indian Markets · NSE/BSE).
1. Nature of Software & Non-Advisory Status
Crucible ("the Platform") operates exclusively as a quantitative analytics tool, vectorized backtesting environment, and cloud software bridging interface across US Equities & Options (NYSE/NASDAQ) and Indian Equities & Derivatives (NSE/BSE).
Crucible is NOT a SEBI-registered Investment Adviser (RIA), Research Analyst (RA), Portfolio Manager (PMS), or Stock Broker in India.
Crucible is NOT an SEC-registered broker-dealer under the U.S. Securities Exchange Act of 1934, member of FINRA/SIPC, or registered investment adviser (RIA) under the U.S. Investment Advisers Act of 1940.
Nothing published, simulated, generated by AI builders, or calculated on this platform constitutes financial, investment, legal, or tax advisory services in any jurisdiction.
All strategy formulations, indicator combinations, and risk rules are authored, validated, and selected entirely by the User.
The Platform incorporates advanced algorithmic and artificial intelligence tools, including Furnace Studio (natural language algorithmic logic synthesis into deterministic Python AST code) and Crucible Copilot (conversational quantitative assistance, mathematical formulas, and position sizing calculations).
Purely Computational & Educational: Crucible Copilot and Furnace Studio provide automated computational simulations and educational explanations. They do NOT provide individualized financial advice, research analysis under SEBI (Research Analysts) Regulations, 2014, portfolio advisory under SEBI (Investment Advisers) Regulations, 2013, or investment advisory under the U.S. Investment Advisers Act of 1940.
No Guaranteed Profits or Accuracy: AI-generated strategy code, indicator explanations, and position sizing models are derived from user-specified prompts and statistical simulations. Language models may produce mathematical approximations or logical edge cases. Users must independently review, test, and validate all generated logic in paper trading prior to live deployment.
Sole User Discretion: The decision to compile, backtest, or deploy any strategy synthesized by AI rests exclusively with the User. Crucible bears zero liability for trading losses, capital drawdowns, or margin penalties resulting from AI-synthesized strategies.
Crucible operates strictly on a Bring Your Own Broker (BYOB) / Bring Your Own Key (BYOK) architecture. The Platform serves as an independent algorithmic software vendor subordinate to your regulated broker-dealers:
🇺🇸 US Market Execution (SEC & FINRA Framework)
Principal Broker-Dealers: Your empaneled US broker-dealer (including Alpaca Securities LLC [SEC #8-70234 · CRD #299202 · FINRA/SIPC], Interactive Brokers LLC [SEC #8-47257 · CRD #36418 · FINRA/SIPC], or Tradier Brokerage Inc [SEC #8-69363 · FINRA/SIPC]) remains the principal execution venue and clearing broker.
SEC Rule 15c3-5 Compliance: All orders routed to US markets are subject to mandatory pre-trade credit thresholds, capital controls, and order size filters enforced at the broker-dealer level under SEC Rule 15c3-5 (Market Access Rule).
SIPC Asset Protection: Crucible never touches, holds, or pools investor capital. Securities and cash in your US brokerage account are held exclusively with your registered broker-dealer and are protected by SIPC (Securities Investor Protection Corporation) up to $500,000 (including $250,000 for cash claims). SIPC protection does not apply to trading losses or to Crucible directly.
🇮🇳 Indian Market Execution (SEBI Framework)
Principal Stock Brokers: Your empaneled SEBI-registered stock broker (including Dhan [Moneylicious Securities Pvt Ltd - INZ000006031], Angel One Ltd [INZ000161534], Upstox [RKSV Securities India Pvt Ltd - INZ000185137], Fyers Securities Pvt Ltd [INZ000008524], Zerodha Broking Ltd [INZ000031633], Kotak Securities Ltd [INZ000200137]) remains the principal execution venue and member of NSE/BSE.
SEBI Algorithmic Guidelines: Crucible operates strictly as a subordinate technology vendor in adherence to SEBI Circulars on Algorithmic Trading Systems. All trade confirmations, margin checks, contract notes, and fund settlements are generated and executed by your broker.
Grievance Routing: Any dispute, execution inquiry, or fund transfer issue must be routed directly to your respective broker's investor grievance portal or the SEBI SCORES / SMART ODR portal.
Automated trading entails substantial financial risk beyond ordinary discretionary trading. By deploying strategies, you explicitly acknowledge and assume the following risks across US and Indian markets:
Technology Failures & Cross-Border Latency: Software execution is vulnerable to internet connectivity loss, cloud server downtime, API authentication token expiry, third-party broker API outages, and trans-continental network latency between Indian and US cloud gateways.
Market Hours & Liquidity Synchronization: Strategies operate under specific exchange market hours: Indian Equity & Derivatives (09:15–15:30 IST) and US Equities & Options (09:30–16:00 EST / 19:00–01:30 IST). Orders placed outside active market sessions or during pre-market/after-hours may encounter extreme bid-ask spreads and limited liquidity.
Currency Fluctuations (USD/INR): For cross-border participants trading US equities and options, returns are subject to foreign currency exchange rate fluctuations between the US Dollar (USD) and the Indian Rupee (INR).
Execution Slippage & Dynamic Fills: Backtested simulated fills may diverge significantly from live market execution prices due to order book depth, market impact, and rapid quote changes.
User Supervisory Obligation: Users are strictly required to supervise live automated algorithms throughout active market hours and maintain ready access to broker-level kill switches to abort misbehaving deployments immediately.
Affiliate & Referral Disclosure: Crucible operates strictly on a Bring Your Own Broker / Key (BYOB/BYOK) model. Crucible does not hold user funds or execute discretionary trades. All API fees charged by respective brokers/exchanges are billed directly by your broker (including Alpaca, Interactive Brokers, Dhan, Upstox, Zerodha). Crucible never charges broker markups or acts as a fund custodian.
Promotional benefits such as "1-Month Free Pro Tier via Partner Demat/Broker Account" are promotional software waivers and hold zero cash surrender or refund value.
Partner referral arrangements with US or Indian brokers do not influence our algorithm backtest outputs, data feeds, or code neutrality.
5. User Responsibilities & Cross-Border Regulatory Compliance
Users are solely responsible for ensuring their trading strategies conform with all applicable statutory regimes:
Indian Regulatory Compliance: Conformance with applicable Indian laws, SEBI circulars, and NSE/BSE exchange bylaws. Where required by their broker or exchange, users must obtain and tag requisite Algo-IDs before executing automated trades.
US Regulatory Compliance & PDT Rule: Conformance with U.S. Securities and Exchange Commission (SEC) regulations, FINRA rules, and exchange bylaws. Users operating margin accounts with US brokers acknowledge the FINRA Pattern Day Trader (PDT) rule requiring a minimum account equity of $25,000 for accounts executing four or more day trades within five business days.
Cross-Border Tax & Remittance Regulations: Indian residents trading US assets must comply with the Reserve Bank of India (RBI) Liberalised Remittance Scheme (LRS) annual limits and ensure proper completion of IRS Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding).
6. Limitation of Liability
To the maximum extent permitted by Indian law, Crucible Technologies Private Limited, its directors, officers, engineers, and partners shall NOT be liable for any direct, indirect, special, incidental, punitive, or consequential financial losses, trading drawdowns, lost profits, or data corruption arising from the use of or inability to use this software.
In compliance with Rule 3(2) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 and the Digital Personal Data Protection Act, 2023, the details of the designated Grievance Officer are as follows:
Acknowledgment Turnaround: 24 to 48 business hours
Resolution Timeline: 15 to 30 business days
8. Governing Law & Jurisdiction
These Terms and Conditions shall be governed by and construed in accordance with the laws of India. Any legal dispute or proceeding arising out of or related to these Terms shall be subject to the exclusive jurisdiction of the competent courts in Bengaluru, Karnataka, India.