Terms of Service

Last updated: November 14, 2025

1. Agreement

These Terms of Service ("Terms") govern your use of deepmarketmaking.org and the Deep MM bond pricing terminal and API (collectively, the "Service") operated by Deep MM, Inc. ("the Company," "we," "us," or "our") (48 Wall Street, 11th Floor, New York, NY 10005). By accessing or using the Service, you agree to be bound by these Terms. If you do not agree, do not use the Service.

2. Use of the Service

• You must be at least 18 years old and authorized to act on behalf of the institution or firm through which you access the Service.
• Access to the Deep MM terminal and API requires registration and approval. The Company reserves the right to decline or revoke access at its discretion.
• You agree not to use the Service for unlawful purposes, to interfere with its operation, or to attempt to gain unauthorized access to systems, data, or accounts.
• You may not scrape, reproduce, redistribute, or resell the Service's pricing output except as permitted under a separately executed data licensing agreement with the Company.
• You may not reverse-engineer, disassemble, or attempt to extract the model, signal construction methodology, or underlying data assets of the Service.

3. Intellectual Property

The Service, including all pricing signals, model outputs, research publications, text, graphics, logos, and software, is owned by the Company or its licensors and is protected by U.S. and international intellectual-property laws. The Company's fair value OAS signals are proprietary model outputs and do not constitute a transfer of any underlying data rights. We grant you a limited, non-exclusive, non-transferable license to access the Service for your firm's internal fixed-income desk use only, consistent with the subscription tier you have purchased.

4. Not Investment Advice

The pricing signals and research output provided through the Service are informational tools intended to assist trained fixed-income professionals in their own analysis. Nothing in the Service constitutes investment advice, a recommendation to buy or sell any security, or a solicitation or offer to provide investment advisory services. Users remain solely responsible for all trading decisions made in connection with or informed by the Service. The Company is not a registered investment adviser, broker-dealer, or financial planner.

5. User Content

You are responsible for any content you submit through the Service (including via contact forms, support tickets, or email). You represent that you have all necessary rights to submit such content. You grant us a limited license to use, store, and process the content as necessary to provide the Service and respond to your inquiry.

6. Disclaimers

THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE." TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE COMPANY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. PRICING SIGNALS REFLECT MODEL-DERIVED ESTIMATES BASED ON AVAILABLE MARKET DATA AND MAY DIFFER FROM ACTUAL TRADE PRICES. THE COMPANY MAKES NO WARRANTY REGARDING THE ACCURACY, COMPLETENESS, TIMELINESS, OR SUITABILITY OF ANY SIGNAL FOR ANY PARTICULAR TRADING PURPOSE.

7. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE COMPANY AND ITS OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING FROM OR IN CONNECTION WITH YOUR USE OF THE SERVICE, INCLUDING ANY TRADING LOSSES OR DECISIONS MADE IN RELIANCE ON THE SERVICE'S PRICING OUTPUT. OUR TOTAL LIABILITY FOR ANY CLAIM ARISING FROM OR RELATED TO THE SERVICE WILL NOT EXCEED THE AMOUNTS PAID BY YOU TO THE COMPANY IN THE THREE MONTHS PRECEDING THE CLAIM.

Some jurisdictions do not allow the exclusion of certain warranties or limitation of certain damages; in those jurisdictions, our liability will be limited to the maximum extent permitted by law.

8. Indemnification

You agree to defend, indemnify, and hold harmless the Company from any claims, damages, liabilities, and expenses (including reasonable attorneys' fees) arising from (a) your use of the Service, (b) your violation of these Terms, or (c) your violation of any third-party right.

9. Termination

We may suspend or terminate your access to the Service at any time, with or without notice, for any reason, including violation of these Terms or non-payment of applicable subscription fees. Sections that by their nature should survive termination will survive (including Sections 3, 4, 6, 7, 8, 10, and 11).

10. Governing Law; Dispute Resolution

These Terms are governed by the laws of the State of New York, without regard to its conflict-of-law principles.

Informal Resolution. Before filing a claim, you agree to contact us at [email protected] and attempt informal resolution for at least 60 days.

Arbitration. Any dispute that cannot be resolved informally will be settled by binding arbitration administered in New York, USA under the rules of the American Arbitration Association ("AAA"). Judgment on the arbitrator's award may be entered in any court of competent jurisdiction. You and the Company each waive the right to a jury trial and the right to participate in a class action.

Exception. Either party may seek injunctive relief in a court of competent jurisdiction located in New York, USA for intellectual-property infringement or unauthorized access to the Service.

11. Changes to These Terms

We may update these Terms from time to time. Material changes will be posted with a new "Last updated" date. Continued use of the Service after the effective date of the updated Terms constitutes acceptance.

12. Contact

Deep MM, Inc.
48 Wall Street, 11th Floor
New York, NY 10005
Email: [email protected]
Phone: +1 (212) 730-0148