Disclosures

Regulatory status

Warren Davis Data Systems is not a registered broker-dealer, investment adviser, futures commission merchant, exchange, alternative trading system or custodian in any jurisdiction. We do not hold client assets, do not execute orders, and do not provide personalised investment advice.

Content in the Service — including assistant output, briefings, dislocation scans and conviction analysis — is informational only. It is not a recommendation, solicitation or offer to buy or sell any instrument, and it does not account for your objectives, financial situation or needs.

Trading and execution

Any order originates from you and is executed by your own brokerage under your agreement with that brokerage. Brokerage connectivity is provided through a third-party connectivity provider. Warren never receives your brokerage credentials, and no order is submitted without a preview you confirmed.

Past performance does not indicate future results. Backtested and hypothetical results have inherent limitations, do not reflect actual trading, and do not account for fees, financing, borrow, slippage or market impact. Trading involves risk of loss, including loss of principal.

Market data sources and licences

Warren draws on categories of market data source — exchange and venue feeds, regulatory filing systems, and commercial and public market data providers. What matters for how you read a number is its timeliness and the licence attached to it, and both are set out below.

Every figure in the Service displays the specific source it came from and the time it was retrieved. Where a source restricts redistribution, exports carry that restriction in the file. We identify our providers by category here; customers and prospective customers receive the named list under a confidentiality agreement, on request to compliance@warrendavisdata.com.

Method notes that affect interpretation

• Insider signal. Only open-market purchases (Form 4 code “P”) and sales (code “S”) are counted. Grants, option exercises and shares withheld for tax are excluded because they reflect compensation rather than a decision to buy or sell.
• Institutional holdings. Form 13F is filed quarterly and up to 45 days in arrears. It describes past positioning, not current.
• Dislocation scans. Spreads shown are observed, not capturable. They exclude bid-ask, borrow, financing, fees and slippage, and many persistent gaps are structural — a closed venue, a futures roll, a fee differential.
• Price history. Returns and drawdowns use split- and dividend-adjusted closes.
• Assistant output. The assistant answers from data retrieved through the Service and cites it. It can still be incomplete or wrong. Verify against the cited source before acting.

Conflicts of interest

We do not receive payment for order flow, do not receive compensation from any issuer for coverage, and do not take proprietary positions in instruments covered by the Service. Where a third-party provider compensates us or we compensate them, the category of that relationship is disclosed in the Privacy Policy table of recipient categories, and the named relationship is disclosed to customers under a confidentiality agreement.

Availability

The Service depends on third-party data providers, brokerages and infrastructure. It may be unavailable, delayed or degraded. Where a feed fails, the Service marks the affected figure as stale or unavailable rather than displaying a stale value as current. Do not rely on the Service as a sole source for time-critical decisions.

Contact

Warren Davis Data Systems · compliance@warrendavisdata.com
See also Terms of Service and Privacy Policy.