Form 6K NatWest Group plc For: 4 September

Fusion Media's risk disclosure highlights the significant risks associated with trading financial instruments and cryptocurrencies, including high volatility and potential capital loss. Crucially, it explicitly states that data provided on its platform is not guaranteed real-time or accurate, is indicative, and not suitable for trading purposes, thus underscoring the imperative for investors to exercise independent verification and caution when relying on such information.

Analysis

The provided text is a standard but critical risk disclosure from Fusion Media, which carries significant implications for any investor utilizing its data platforms. The disclosure explicitly states that financial and cryptocurrency trading involves high risk of capital loss, amplified by the extreme volatility of digital assets and the use of margin. Most importantly for institutional use, it issues a severe qualification on its data integrity, stating that prices are 'not necessarily real-time nor accurate' and are provided by market makers, rendering them 'indicative and not appropriate for trading purposes.' This disclaimer effectively transfers all liability for trading losses resulting from data inaccuracies to the user. The emphasis on data unsuitability constitutes a major operational risk for any trading strategy, particularly quantitative or algorithmic models, that might inadvertently incorporate this data feed for execution or analysis.

Key Decisions for Investors

• Firms must ensure that any data pipelines sourcing from Fusion Media's public platforms are used strictly for informational or illustrative purposes and are never utilized for live trade execution, risk management, or settlement.
• Quantitative analysts and algorithmic traders should explicitly blacklist this data source for model backtesting and calibration, as the disclosed potential for inaccuracies and latency could lead to fundamentally flawed strategy development.
• All investors should treat this disclosure as a case study on the critical importance of performing due diligence on data vendors and relying solely on primary exchange feeds or reputable, institutional-grade data providers for any decision-making that has financial consequences.