Important
information.

01

General disclaimer

The information contained on this website has been prepared by OrgaX LLC for general informational purposes only. It does not take into account the investment objectives, financial situation, or particular needs of any individual or entity. Before making any investment decision, recipients should seek independent legal, financial, and tax advice from qualified professionals in their jurisdiction.

02

Backtested performance

Backtested performance results have inherent limitations. Unlike actual performance records, simulated results do not represent actual trading and may not reflect the impact of material economic and market factors. Backtesting is performed with the benefit of hindsight. Key limitations include:

• Results may not account for all transaction costs, slippage, or market impact at scale
• Backtested results assume no changes in strategy parameters, which may not reflect real-world management decisions
• Market conditions during the backtest period may not recur
• The 2013 annual period is excluded from results due to a data anomaly under investigation
• The probability of backtest overfitting cannot be fully eliminated despite low-frequency trading and fixed parameter design

All backtesting was conducted on the QuantConnect Institutional research platform using minute-bar data with realistic transaction cost and slippage assumptions. Identical strategy parameters were applied across all periods without period-specific optimisation.

03

Eligible investors

This website and its contents are directed exclusively at:

• Qualified institutional investors as defined under applicable securities law
• Professional investors and eligible counterparties as defined under MiFID II
• Accredited investors as defined under Regulation D of the US Securities Act
• Family offices and multi-family offices meeting applicable thresholds
• Persons who have professional experience in matters relating to investments

This website is not directed at, and should not be relied upon by, retail investors or any person who does not qualify as a professional or institutional investor under the laws of their jurisdiction. If you do not qualify, you should not access or use any information on this website.

04

No offer or solicitation

Nothing on this website constitutes, or should be construed as, an offer, invitation, or solicitation to buy, sell, subscribe for, or underwrite any securities, financial instruments, or investment products in any jurisdiction. No part of this website forms the basis of, or should be relied upon in connection with, any contract or commitment whatsoever.

Any expression of interest submitted through the contact channels on this website does not constitute a binding offer or agreement of any kind. OrgaX LLC reserves the right to decline any enquiry at its absolute discretion.

05

Risk factors

Prospective investors should be aware of, and carefully consider, the following risk factors among others:

• Strategy risk: The BLT Engine may not perform as indicated by backtested results in live trading conditions
• Model risk: The strategy relies on geometric and mathematical assumptions that may not hold in all market environments
• Liquidity risk: Strategy capacity is limited; capacity depends on instrument mix and market conditions
• Currency risk: The strategy trades foreign exchange instruments which are subject to exchange rate fluctuations
• Drawdown risk: Strategies may experience significant drawdowns and losses
• Regime risk: Low-volatility, unidirectional market regimes have historically produced the weakest results
• Operational risk: Technology failures, data errors, or execution issues could materially affect performance
• Regulatory risk: Changes in regulation applicable to the instruments traded may affect strategy viability

06

Research & publications

The theoretical frameworks, taxonomies, and hypotheses presented in these working papers represent the author's independent research and views. They should not be construed as established financial theory or as verified empirical fact beyond the scope of the backtesting described therein.

07

Entity information

OrgaX LLC is a limited liability company incorporated in the State of Delaware, United States of America (Newark, DE). Its activities combine systematic investment and quantitative research.

08

Intellectual property

The Boutgajouft Liquidity Triangle Theory™ (BLT Theory), the BLT Engine, and all associated methodologies, frameworks, and mathematical constructs are the proprietary intellectual property of Sofiane Boutgajouft and OrgaX LLC. All rights are reserved.

No part of the content on this website, including research papers, formulas, methodologies, or frameworks, may be reproduced, distributed, or transmitted in any form or by any means without the prior written permission of OrgaX LLC, except for personal non-commercial use and with appropriate attribution.

09

Jurisdiction & governing law

OrgaX LLC is incorporated under the laws of the State of Delaware, United States of America. These terms and conditions and any dispute or claim arising out of or in connection with the content of this website shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its conflict of law provisions.

The information on this website is not directed at persons in any jurisdiction where the publication or availability of such information would be contrary to local law or regulation. In particular, this website is not directed at US retail investors or any person who does not qualify as an "accredited investor" under Regulation D of the US Securities Act of 1933, as amended.

It is the responsibility of any person accessing this website to satisfy themselves as to the full observance of the laws and regulations of the relevant jurisdiction, including obtaining any governmental or other consent which may be required.

10

Contact

For legal enquiries or questions regarding these disclaimers, please contact:

Last updated: May 2026