1. Purpose of this disclosure
Dovest builds and validates systematic trading infrastructure. We do not operate a public fund, brokerage, or advisory service for retail investors. This disclosure sets out the key risks associated with:
- Using systematic trading strategies and infrastructure in live markets;
- Interpreting research, backtests, and examples published by Dovest; and
- Understanding what our systems can and cannot reasonably provide.
Nothing on this site – including examples, statistics, or case studies – should be interpreted as a promise of future returns or a recommendation to trade any specific instrument.
2. Trading and market risk
All trading in financial markets involves risk. Prices of securities, derivatives, and other instruments can move rapidly and unpredictably. Even well-designed systematic strategies can experience:
- Sharp drawdowns over short periods;
- Extended periods of underperformance relative to benchmarks; and
- Losses that exceed historical expectations during extreme events.
Dovest’s focus on system integrity does not remove market risk. It aims to make behaviour more predictable under a wide range of conditions – including adverse ones – but cannot prevent losses.
3. Backtested and simulated results
From time to time, Dovest may publish backtested or simulated performance to illustrate how an engine behaves under specific structural assumptions. These figures are inherently limited:
- They rely on historical data that may not reflect future conditions;
- They may not fully capture transaction costs, slippage, or liquidity constraints; and
- They represent a single path through history, not the full distribution of possible outcomes.
Backtested performance is not a guarantee of live performance. Real-world results may differ materially, in either direction, from any research or examples shared on this site.
4. No personal or general financial advice
Content published by Dovest – including blog posts, research notes, diagrams, and system explanations – is provided for educational and informational purposes only. It:
- Does not take into account your objectives, financial situation, or needs;
- Does not constitute personal financial advice, general financial advice, or a recommendation; and
- Should not be used as the sole basis for any investment or trading decision.
Any decisions made by you or your institution about trading, allocation, or infrastructure adoption remain your responsibility. Independent professional advice should be obtained as appropriate.
5. Eligibility and institutional focus
Dovest’s products, infrastructure, and validation frameworks are designed for institutional use – including professional traders, funds, and sophisticated allocators. They may not be suitable for:
- Retail investors;
- Individuals without appropriate risk capacity and experience; or
- Entities operating without robust governance and risk oversight.
Access to any production system, dashboard, or integration may be subject to eligibility checks, contractual terms, and jurisdictional constraints.
6. Operational, infrastructure, and counterparty risk
Even when a strategy’s logic is sound, infrastructure and operational failures can cause losses. Examples include:
- Data feed interruptions, corruption, or latency;
- Connectivity or exchange outages;
- Execution failures at brokers or venues; and
- Errors in deployment, configuration, or integration with third-party systems.
Dovest designs monitoring and safeguard layers to detect and mitigate such issues, but no environment can eliminate operational risk entirely. Counterparty failures – such as broker insolvency or clearing issues – remain outside Dovest’s control.
7. Model, parameter, and governance risk
Systematic engines embed assumptions about market structure, liquidity, and behaviour. These can break down as markets evolve. Risks include:
- Model specification risk – using the wrong structure for the environment;
- Parameter risk – relying on thresholds calibrated on past data that no longer apply; and
- Governance risk – inadequate oversight, change control, or auditability.
Dovest’s emphasis on governance, decision hygiene, and audit trails is intended to make these risks visible and manageable, not to remove them.
8. Limitations of liability
To the maximum extent permitted by law, Dovest and its related entities:
- Do not accept liability for any loss or damage arising from the use of, or reliance on, content on this site;
- Do not warrant that any system, model, or process will achieve any particular outcome; and
- Do not guarantee uninterrupted access to platforms, research, or infrastructure.
Any engagement with Dovest will be governed by specific contractual documents, which will prevail over this general disclosure in the event of inconsistency.
9. Changes to this disclosure
Markets, regulation, and Dovest’s infrastructure evolve over time. This risk disclosure may be updated to reflect:
- Changes in our systems and validation framework;
- Regulatory developments in relevant jurisdictions; and
- Refinements to how we articulate and monitor risk.
The most recent version of this page supersedes any earlier versions.
10. Contact and further information
If you are an institutional allocator, trading desk, or infrastructure partner and wish to understand how our risk, validation, and governance frameworks align with your requirements, please contact us via the dedicated Request Access and Contact channels.
Any decision to allocate capital to a strategy or engine remains your responsibility and should be made within your own risk, legal, and governance frameworks.