Trade. Perform. Win

“ADX” means the Abu Dhabi Securities Exchange. 

“Adjusted Beginning Value” means the Beginning Market Value adjusted to incorporate the market value of any share transfers occurring during the trading day, calculated in accordance with the Time-Weighted Return methodology. 

“Al Ramz” means Al Ramz Capital L.L.C., a brokerage licensed and regulated by the Securities and Commodities Authority in the United Arab Emirates. 

“Beginning Market Value (BMV)” means the market value of all eligible ADX-listed equities held in a participant’s account at the start of a trading day or sub-period, calculated using the previous trading day’s official ADX closing prices and including any unrealized gains or losses accumulated prior to that time. 

“Cash Flow” means any external movement of cash or securities into or out of a participant’s account, including deposits, withdrawals, dividends, and share transfers, but excluding internal reallocations between eligible securities. 

“Competition” means the trading competition organized by Al Ramz in accordance with these Terms & Conditions.

“Competition Period” means the defined start and end date of each competition cycle as published across official digital channels.

“Dividends” means cash dividends declared on ADX listed equities and paid directly to a participant’s linked bank account or expected to be paid later, which are included in performance calculations but excluded from ending market value. 

“Eligible Instruments” means ADX listed equity securities traded through Al Ramz and eligible for inclusion in the Competition, excluding derivatives, margin products, leveraged instruments, off market transfers, and non ADX securities. 

“Ending Market Value (EMV)” means the market value of all eligible ADX listed equities held in a participant’s account at the end of a trading day or sub-period, calculated using official ADX closing prices and excluding dividends paid externally. 

“External Cash Flow” means any cash or securities transferred into or out of a participant’s account that resets a sub-period for TWR calculation purposes. 

“Realized Profit or Loss” means gains or losses realized from the sale of ADX-listed equities, recognized on the trade date.

“Unrealized Profit or Loss” means changes in market value of ADX listed equities that have not been sold, including price movements on shares transferred into the account and recorded at market value upon transfer. 

“Participant” means an eligible Al Ramz client who has successfully opted in to the Competition. “Ranking” means the ordering of participants based solely on their Time-Weighted Return for the relevant Competition Period, expressed as a percentage. 

“Share Transfer In” means the transfer of ADX listed shares into a participant’s account during the trading session, recorded at prevailing market prices and treated as an external cash flow for TWR purposes.

“Share Transfer Out” means the transfer of ADX-listed shares out of a participant’s account, valued at the previous trading day’s official closing price and treated as an opening-day external cash flow, with any intraday price movement excluded from performance. 

“Time Weighted Return (TWR)” means the performance measurement methodology used to calculate percentage returns by linking sub-period returns and neutralizing the impact of external cash flows, deposits, withdrawals, and share transfers. 

“Winner” means a participant ranked among the top ten (10) participants by highest TWR for a given Competition Period.

The competition (“Competition”) is organized by Al Ramz Capital L.L.C (“Al Ramz”), a licensed brokerage regulated by the Capital Market Authority (CMA), United Arab Emirates.

The Competition is a marketing and client engagement initiative designed to encourage investment in Abu Dhabi Securities Exchange (“ADX”) listed equities. 

The Competition does not constitute investment advice, portfolio management, or a guarantee of returns. The competition does not require any minimum investment amount to participate or any capital injection. Existing account balance is eligible for participation. 

Results are calculated based on the percentage return, therefore, capital increase/decrease will not impact returns.

Participation is open only to individuals who: 

• Active trading account with Al Ramz ; 
• Are eligible to trade ADX-listed equities; 
• Successfully opt in to the Competition; and 
• Comply with all applicable laws, regulations, and Al Ramz account terms. 

The following are not eligible: 

• Employees of Al Ramz and their immediate family members. 
• Any individual restricted from trading by law or regulation. 
• Accounts under investigation, suspension, or compliance review.

• Participation is voluntary and opt-in only.
• Clients must opt in via Al Ramz’s approved digital channels.
• Only trades executed after opt-in and within the relevant Competition Period will be considered. 
• Once you opt in you will be included in all subsequent competitions, unless you opt out by contacting Al Ramz Customer Service. 
   

• The Competition runs for a defined period based on specific start and end dates.
• The applicable start date and end date for each Competition Period will be announced and published across the official digital channels.
• Each Competition period constitutes a separate and independent cycle.
• Rankings and performance results do not roll over beyond the specified Competition end date.
   

• Only ADX-listed equity securities traded through Al Ramz are eligible.
• Derivatives and non-ADX securities are excluded.
   

• Performance is measured exclusively using Time-Weighted Return (TWR), calculated by linking sub period returns to eliminate the impact of external cash flows.
• TWR neutralizes the effect of cash deposits, withdrawals, and share transfers, ensuring that performance reflects trading results only, irrespective of account size or funding timing.
• Portfolio values are calculated using official ADX closing prices, with Beginning Market Value and is based on the prior trading day’s close and Ending Market Value based on the current trading day’s close. Beginning Market Value adjusted to incorporates the market value of all share transfers in occurring during the trading day.
• Executed trades are reflected on trade date; realized and unrealized gains and losses are included, while failed, cancelled, or reversed trades are excluded.
• Cash dividends eligible during the Competition period are included in performance calculations.
• Share transfers out are valued at the previous trading day’s official closing price and treated as an opening-day external movement. Any profit or loss generated by those shares during the trading session is excluded from performance calculations.
• Shares sold during the trading day have their realized profit or loss recognized on the trade date. Any unrealized gain or loss accumulated prior to the sale is reflected in the Beginning Market Value.
• Share transfers in executed during the trading session are included in the adjusted beginning value and reflected at prevailing market prices. Any subsequent price movement during the day is captured as unrealized profit or loss.
• Unrealized profit or loss includes market value changes on shares transferred in, as these are recorded at market value upon transfer.
• Realized profit or loss represents gains or losses realized from the sale of ADX-listed shares.
• Dividends are paid directly to the client’s bank account and are therefore excluded from ending market value, while still being included in total performance.
• Non-trading days are excluded from calculations, and where price data is unavailable, the most recent official closing price is used.
• Al Ramz’s TWR calculation methodology, including any adjustments required for data integrity or system limitations, is final, binding, and not subject to dispute.

Illustrative Example (Single Trading Day – Including Share Transfer Out)

• Beginning Market Value (BMV): AED 100,000, based on the previous trading day’s ADX official closing prices. This value includes any unrealized gains or losses on shares that may be sold later in the day.
• Opening-day external movement (Share Transfer Out): Shares with a market value of AED 10,000 are transferred out of the account. These shares are valued at the previous trading day’s closing price and treated as an opening-day external cash flow. Any profit or loss generated by these shares during the trading session is excluded from performance.
• Adjusted Beginning Value: AED 90,000
• During the trading day:
  • Shares are transferred into the account with a market value of AED 15,000, recorded at prevailing market prices and included in the adjusted beginning value.
  • Shares sold during the day generate AED 3,000 of realized profit, recognized on the trade date.
  • Remaining holdings, including transferred-in shares, generate AED 2,000 of unrealized gains, captured through market value changes.
  • Cash dividends of AED 1,000 are paid directly to the client’s bank account (included in performance, excluded from ending market value).

• Ending Market Value (EMV): AED 110,000, calculated using ADX closing prices and excluding dividends paid externally.

  Daily TWR = (EMV - Adjusted BMV - Shares transfer in)/Adjusted BMV

  Therefore Daily TWR = (110,000 - 90,000 - 15,000) / 90,000 = 5.56%

• For each Competition period:
  • Participants are ranked based on percentage TWR, from highest to lowest.
  • The top ten (10) participants with the highest TWR are declared winners.
• In the event of a tie, Al Ramz reserves the right to apply tie-break criteria or split prizes at its discretion.
   

• For each Competition Period, rewards are awarded to the top ten (10)
  • 1st place: 1,000,000 Etihad Guest Miles
  •  2nd place: 500,000 Etihad Guest Miles
  •  3rd place: 250,000 Etihad Guest Miles
  •  4th–10th place: 100,000 Etihad Guest Miles each
• No cash alternative, substitution, or exchange is permitted.
• Prize values may vary by ranking and may change with prior notice.
   

• All winning results are subject to internal verification and, where required, independent review.
• Al Ramz reserves the right to delay or withhold prize allocation pending verification
   

• Participants may be disqualified if Al Ramz determines, at its sole discretion, that they have:
  • Engaged in wash trading, layering, spoofing, or abusive trading practices;
  • Attempted to manipulate rankings or system calculations;
  • Breached these Terms & Conditions or applicable regulations.
• Disqualification may occur before or after results are announced, with prizes forfeited if already allocated.
   

• Winners agree to participate in public results announcements related to the Competition; refusal to do so may result in disqualification and forfeiture of rewards.
• Only percentage returns may be referenced in marketing or public communications.
• Portfolio size, specific holdings, and transaction values will never be disclosed
   

• Trading in securities involves risk and may result in losses.
• Past performance is not indicative of future results.
• Participation in the Competition does not improve or alter trading outcomes.
   

• Except to the extent arising from fraud, gross negligence, willful misconduct, or breach of applicable laws or regulatory obligations, Al Ramz shall not be liable for:
  • Technical failures, data feed delays, or system outages;
  • Losses incurred through trading activity;
  • Delays or errors beyond its reasonable control.
     

• Etihad Guest bears no liability for the terms and conditions set related to the campaign. 
• Al Ramz shall not be liable for any losses, damages, costs, or expenses incurred by participants in connection with the Competition, including but not limited to:
  • Trading losses, missed opportunities, or adverse market movements resulting from participation;
  • Technical failures, data feed delays, calculation errors, system outages, or interruptions to trading, connectivity, or platform availability;
  • Delays, inaccuracies, or omissions in performance calculations, rankings, prize allocation, or public announcements;
  • Actions or omissions of third parties, including exchanges, custodians, payment providers, data vendors, or reward partners;
  • Regulatory actions, changes in law, or compliance requirements affecting the Competition;
  • Events beyond Al Ramz’s reasonable control, including force majeure events. 
• Any amendments will be communicated through official Al Ramz channels.
• Participation in the Competition is at the participant’s sole risk, and Al Ramz makes no representations or warranties, express or implied, regarding trading outcomes, performance rankings, or the availability or value of rewards.
• To the maximum extent permitted by applicable law, Al Ramz’s aggregate liability, if any, shall be limited to the value of the reward to which the participant would otherwise have been entitled.
• Continued participation after clear notification through official channels constitutes acceptance of amended terms.
   

• These Terms & Conditions are governed by the laws of the United Arab Emirates, the courts of Abu Dhabi