Tlphone : +41 22 317 10 20 www.delman.

ch Facsimile : +41 22 317 10 31

18, rue du March P.O. Box 3161 CH-1211 Geneva 3 Switzerland
1









A modern approach to investing.




Transparency
Flexibility
Adaptive
Systematic











Tlphone : +41 22 317 10 20 www.delman.ch Facsimile : +41 22 317 10 31
18, rue du March P.O. Box 3161 CH-1211 Geneva 3 Switzerland
2
TEAM MESSAGE



Since the dawn of time, humans have been seeking to improve their condition: this is human nature. Over the past
few decades, computer sciences have changed our way of living, working and solving problems. Simulation and
artificial processing have been applied to all fields of science and quite often have superseded human brain in problem
solving.

The complexity of financial modeling and the design of investment strategies embody numerous challenges, which
requires innovative ideas and concepts to be understood and solved.

Delman is a financial partner that seeks talents with innovative ideas and concepts in computational intelligence
applied to the specificity of market investing to design and implement sustainable and performing trading solutions.

Our team is fully committed to this vision and constantly seeks to demonstrate that understanding of the past will give
us insightful clues about the present.

We hope that you will appreciate the rigorousness of our approach as well as our past, present and future results.

The Delman team.






Tlphone : +41 22 317 10 20 www.delman.ch Facsimile : +41 22 317 10 31
18, rue du March P.O. Box 3161 CH-1211 Geneva 3 Switzerland
3
FOREWORD



Delmans AlphaSystematic FX managed account mid-to-high frequency foreign exchange investment programme
trades a diversified portfolio of foreign exchange instruments and trading systems applied to multiple timeframes.

Our Research and Development Team was formed with the aim of pooling knowledge and technical expertise from
the fields of computational intelligence, data mining, statistical science, technical analysis, signal processing, image
processing, data processing and finance with a sole purpose: develop a totally new approach to market investing.

Several years were necessary to develop our trading engine and finalize the investment solutions proposed by Delman
SA.

This document details our investment objective, methodology and the financial opportunities that we propose.

If we had to summarize our actions into a few words we would say our objective is to provide sustainable returns
while managing the associated risk.

So, without any further ado, let's look into the method.







Tlphone : +41 22 317 10 20 www.delman.ch Facsimile : +41 22 317 10 31
18, rue du March P.O. Box 3161 CH-1211 Geneva 3 Switzerland
4
TERMS SHEET


Strategy : Forex, Short Term, Fully Systematic
Objective : 10-30% per year
Leverage : 1 to 4
Liquidity : Daily
Management fee : 2%
Incentive fee : 20% High Water Mark
Trading fee : None
Manager : Delman SA Geneva, Switzerland
AlphaSystematic FX Multi-Strategies
Bank Custodian : Liquid Markets














This document does not constitute an offer to sell or a solicitation of an offer to subscribe to the AlphaSystematic FX programme, which can only be
made by signing a management contract with Delman SA and only in compliance with and subject to limitations imposed by applicable laws and
regulations applying to the ability to offer these securities to prospective investors in their relevant jurisdictions. The information and opinions
contained in this document are for background purposes only and do not purport to be full or complete. Past performance is not necessarily a guide
to future performance.






Tlphone : +41 22 317 10 20 www.delman.ch Facsimile : +41 22 317 10 31
18, rue du March P.O. Box 3161 CH-1211 Geneva 3 Switzerland
5
INVESTMENT OBJECTIVE AND STRATEGY


Investment Objectives

The investment objective of the AlphaSystematic FX programme is to seek stable capital gain by trading a diversified
portfolio of foreign exchange instruments. The investment strategy is designed to provide returns superior to those
achieved by assets such as shares, cash, fixed interest and property, while reducing the overall risk of your total
portfolio. Moreover, this is to be achieved with no correlation to either stock indexes or any other benchmark. The
trading strategies are mid-to-high frequency, fully systematic, trade 24 hours, and are based on advanced
computational intelligence algorithms resulting from 10 years of active research and development.


Investment Strategy

There are numerous foreign exchange markets around the world. Those markets are large, liquid and well diversified,
allowing our automated trading robots to seek and identify short and medium term opportunities to make profits
while minimizing risk. These profit opportunities are available in falling as well as in rising markets.







Tlphone : +41 22 317 10 20 www.delman.ch Facsimile : +41 22 317 10 31
18, rue du March P.O. Box 3161 CH-1211 Geneva 3 Switzerland
6
TRADING & RESEARCH METHODOLOGY


Delman SA is organized with a Research and Development Team formed with the aim of pooling knowledge and
technical expertise from the fields of computational intelligence, data mining, statistical science, technical analysis,
signal processing, image processing, data processing and finance with a sole purpose: develop a totally new approach
to market investing.

To elaborate on the AlphaSystematic FX programme, Delmans investment managers and partners have developed a
sophisticated modeling and trading framework over the last ten years. This framework allows comprehensive
simulation and real trading implementation of the portfolio strategy.

The trading strategies used are technical in nature and ignores news, weather, politics and other fundamental factors
except as they are reflected in the markets. The trading methodology is dynamic, auto-adaptive to varying market
conditions and fully mechanical.

The multi-portfolio strategies of the AlphaSystematic FX programme use a combination of markets/systems which
varies according to market conditions such as volatility, price stability and fractal/scaling characteristics. The
quantitative measures of the diverse market characteristics are estimated using proprietary methods and algorithms.
The global strategy is based on pools of systems and covers a wide diversified set of trading logic, have different
philosophies and are complementary. The trading systems are applied to a diversified portfolio of foreign exchange
pairs.

By allowing a dynamic selection of markets/systems combinations adapting to varying market conditions the
AlphaSystematic FX programme is designed to work under trending and/or trading range market conditions. To
reduce the risk of investing, several levels of diversification have been applied to the overall design:

Per market
Per geographic zones
Per time horizons
Per types of trading systems (set of rules used to enter and exit the markets)
Per analytical methods (set of algorithms used to create the trading systems)

Our experience with some very successful trading systems has led us to believe that our novel decision paradigm
based on the most recent artificial intelligence techniques defines a new approach to market investing with new
expectations in term of profitability and risk control.











Tlphone : +41 22 317 10 20 www.delman.ch Facsimile : +41 22 317 10 31
18, rue du March P.O. Box 3161 CH-1211 Geneva 3 Switzerland
7
SUMMARY


Fully automated modeling process using advanced computational intelligence algorithms

Fully automated decision and trading process: no discretionary trading

Adaptive to changing market conditions, trade 24 hours except on weekends

Possibilities to adjust your own risk return profile by adjusting your own leverage on the capital you
choose to invest

Possibilities to stop trading in a few minutes when requested: daily liquidity

Investment objectives:

Seek stable capital gains by trading a diversified portfolio of forex pairs trading
multiple strategies on multiple timeframes.
The strategy is a mixed of mid and high frequency trading systems.
Low correlation with traditional markets, stock indexes and classical benchmarks.
Higher returns over long term period and attractive risk return ratio.
Positive returns in declining or rising markets.
Alternative investment accessible to individuals.

Risk control:

Diversified Portfolio:
Market diversifications:
o Major forex pairs
Diversified Approach:
Multi systems:
o A pool of several uncorrelated trading systems is traded for each
forex pair (about 10 trading systems per pair).
Trading style, a mixed approach:
o Advanced non-linear market modeling determining short-term market
direction (from 15 to 60 trades per day).
o Highly non linear trading agents grouped into trading decision pools.
Multiple time-frames:
o Each trading system trades its own timeframe and adapts its trading
speed to underlying market dynamic.
System filters:
o Historical risk profile
o Underlying market dynamic
o Risk constraints
Adapt to changing market conditions:
o Dynamic timeframe construction adapting to current market volatility
o Dynamic allocation using trading systems consensus






Tlphone : +41 22 317 10 20 www.delman.ch Facsimile : +41 22 317 10 31
18, rue du March P.O. Box 3161 CH-1211 Geneva 3 Switzerland
8
SUMMARY


Transparency:

Monthly reports sent to clients.
Daily and weekly estimated returns available on request.

Research methodology:

Robust systematic modeling process: same research methodology applied to all
markets traded.
Automated non linear market modeling using advanced proprietary computational
intelligence tools.
Automated trading strategies generation procedures using innovative machine
learning algorithms (10 years of research and development).
Robust trading systems based on multiple trading agents aggregation and voting
procedures.
Extensive back testing.
Non fitted parameters.
Each market has its own pool of trading systems matching its particular dynamic.
Stable automated allocation process using trading systems consensus.
All trading systems are adaptive to changing market conditions.
Own proprietary modeling platform.
Own proprietary trading platform interfacing with the industry standard trading
framework.