These terms and conditions govern your use of the Delunavora site, which describes AI tools and methodologies for extracting implied expectations from options, futures, and swaps for macro and equity research contexts. By visiting, browsing, or interacting with the site, you agree to follow these terms. They sit alongside our privacy policy, cookie policy, and disclaimer, which explain how we handle data, cookies, and limitations of our content. If you disagree with any part of these terms, you should stop using the site. We may update the terms over time and will indicate the effective date at the top of this page.

August 16, 2026

Acceptance of terms

By accessing or using this site, you agree to be bound by these terms and conditions, along with any additional notices, policies, or disclaimers referenced here. If you do not agree, you should not use the site or rely on its content. We may update these terms from time to time to reflect changes in our services, technology, or legal requirements. When we post revised terms, the updated version applies to subsequent use of the site. Your continued access after changes take effect means you accept the revised terms and should review them periodically.

Key definitions

This section explains how certain words are used in these terms. These definitions are intended to keep the language precise and consistent, especially where we describe how AI tools interact with derivatives data such as options, futures, and swaps. When you read these terms, you should apply the defined meanings below unless the context clearly requires a different reading. Defined terms may appear in singular or plural form without changing their meaning.

• “Site” means the Delunavora website and any related pages, content, or services made available under the delunavora.world Delunavora that describe or demonstrate AI tools for extracting implied expectations from options, futures, and swaps. It includes text, images, diagrams, comparison tables, downloadable materials, and any other resources we provide for informational purposes.
• “Services” refers to the informational and analytical descriptions made available through the site, including explanations of our methodologies, frameworks such as the Implied Expectations Map, Data Provenance Trace, and Scenario Review Loop, and any illustrative examples of how derivatives based implied expectations can support macro or equity research discussions. It does not include personal investment advice or recommendations.
• “User”, “you”, or “your” means any individual or organisational representative who accesses, browses, or otherwise interacts with the site, whether on their own behalf or on behalf of a company, institution, or other entity. By using the site on behalf of an organisation, you confirm that you have authority to accept these terms for that organisation.
• “Content” means all material available on or through the site, including written explanations, graphics, diagrams, tables, charts, examples, and any AI generated summaries of implied expectations, whether created by us or provided by third parties. References to content also include structure, layout, and underlying arrangements of information that appear on the site.

Permitted use of the site

The site is provided for informational purposes, particularly to describe how AI can be used to analyse implied expectations from options, futures, and swaps for macro and equity research contexts. You may use the site to learn about our methodologies, frameworks, and examples, and to consider whether they are relevant to your organisation. You may not treat the site as a trading system, signal provider, or personalised advisory service. We reserve the right to modify, suspend, or restrict access to the site where necessary for maintenance, security, or legal reasons.

Eligibility to use the site

The site is intended primarily for organisational users involved in research, strategy, risk, treasury, or related functions who are interested in AI based analysis of implied expectations from options, futures, and swaps. By using the site, you confirm that you are at least the age of majority in your jurisdiction and that you have capacity to enter into binding agreements. If you access the site on behalf of an organisation, you represent that you are authorised to do so and that your use complies with any internal policies that apply to you.

We do not knowingly collect personal data from children or target the site to minors. If you are aware that a minor has provided personal information through the site, please contact us so we can review and, where appropriate, delete the information. Access to certain content or features may be restricted based on region, organisational role, or other criteria to help us comply with legal and governance expectations. You are responsible for ensuring that viewing or using the site is lawful where you are located.

Your responsibilities

Your use of the site carries certain responsibilities that sit alongside the rights and limitations set out elsewhere in these terms. These responsibilities help ensure that the site remains useful, reliable, and compliant with applicable laws and organisational standards. By continuing to access the site, you agree to the obligations described in this section and confirm that you will act in a way that is consistent with a professional environment.

• You are responsible for ensuring that your use of the site, and any reliance you place on its content, is appropriate for your organisation, governance framework, and regulatory environment. This includes verifying information before using it in internal reports, committee materials, or other decision making processes. Our content is designed to support, not replace, your own analysis and professional judgement. Past performance does not guarantee future results, and results may vary.
• If you create, maintain, or use any access credentials or technical integrations associated with the site, you are responsible for keeping them secure and for any activity that occurs under them, unless you promptly notify us of suspected misuse. You should use strong passwords, restrict access to authorised individuals, and follow your organisation’s security policies when interacting with the site.
• You are responsible for complying with any internal policies that apply to your role, including rules set by your employer, institution, or other governing body. If your organisation has guidelines about using external analytical tools, AI systems, or derivatives data, you must ensure that your use of this site fits within those rules. If you are unsure, you should seek internal approval before relying on content from the site.
• If you provide feedback, suggestions, or other user content through the site, you are responsible for ensuring that you have the right to share that material and that it does not contain confidential or proprietary information you are not authorised to disclose. By submitting such content, you grant us a non exclusive, royalty free right to use it to improve our services, consistent with applicable law and our privacy commitments.

Prohibited uses

To keep the site reliable, secure, and suitable for its intended audience, certain types of behaviour are not allowed. These restrictions help protect our systems, other users, and third parties whose data or rights may be affected by how the site is used. By accessing the site, you agree that you will not engage in the activities described below and that you will take reasonable steps to ensure your colleagues or representatives follow the same standards.

• You may not use the site or its content in any way that violates applicable laws, regulations, or regulatory guidance, including rules governing derivatives data, AI tools, or market analysis in your jurisdiction. This includes using information from the site to circumvent reporting obligations, manipulate markets, or engage in unauthorised activities. You are responsible for understanding which rules apply to you and ensuring that your use of the site is consistent with them.
• You must not attempt to gain unauthorised access to any part of the site, its underlying systems, or associated networks. Prohibited behaviour includes probing, scanning, or testing the vulnerability of systems without permission, introducing malware, or attempting to interfere with security features. You also may not use automated tools to scrape or harvest content except where clearly allowed by us or by applicable law in a way that does not place undue burden on our infrastructure.
• You may not use the site to upload, transmit, or distribute any material that is unlawful, defamatory, misleading, discriminatory, or otherwise harmful. This includes content that infringes the intellectual property or privacy rights of others, or that misrepresents your relationship with us. You are responsible for ensuring that any information you share through the site is accurate, lawful, and appropriate for a professional environment focused on implied expectations analytics.
• You must not use the site or its content to offer, promote, or market products or services in a way that suggests we endorse or are affiliated with them without our prior written consent. This includes using our name, logo, or content in unsolicited communications, marketing materials, or presentations that could mislead others about our involvement. Any permitted references should be accurate, fair, and consistent with these terms.
• You may not use the site in a way that interferes with the experience of other users or degrades the performance of our systems. Examples include excessive automated requests, attempts to overload servers, or activities that bypass or disable features designed to manage traffic or protect content. We reserve the right to limit or block access where we reasonably believe that behaviour is abusive, harmful, or inconsistent with these terms.

Intellectual property

Unless stated otherwise, we own or license all intellectual property rights in the site and its content, including text, graphics, diagrams, tables, logos, and the structure and arrangement of information. You receive a limited, revocable, non exclusive, non transferable right to access and use the site for legitimate internal purposes, such as evaluating whether our approach to implied expectations analytics is relevant to your organisation. You may not copy, modify, distribute, reverse engineer, or create derivative works from the site or its content, except as allowed by law or with our prior written permission.

User content

From time to time, the site may allow you to submit feedback, questions, or other material, for example through forms or contact channels. You are responsible for ensuring that any user content you provide is lawful, accurate, and appropriate. You should avoid including confidential, proprietary, or sensitive information that you are not authorised to share. We may review, moderate, or remove user content where we reasonably believe it breaches these terms or applicable law, but we are not obligated to monitor all submissions.

Privacy and data protection

Our handling of personal data, including information collected when you visit the site, use forms, or communicate with us, is described in our separate privacy policy. That policy explains what data we collect, how we use it, how long we keep it, and what rights you may have. By using the site, you acknowledge that your personal data will be processed in line with that policy, which we may update from time to time. Past performance does not guarantee future results, and results may vary. Read our privacy policy

Important disclaimers

The site provides information about AI based analysis of implied expectations from derivatives markets, but it does not offer personal investment advice, legal advice, tax advice, or other regulated recommendations. Any scenarios, examples, or analytical descriptions are illustrative and may not be suitable for your circumstances. You remain responsible for your own decisions and for obtaining independent professional advice where needed. Past performance does not guarantee future results, and results may vary.

Limitation of liability

To the fullest extent permitted by law, we are not liable for indirect, consequential, incidental, or special losses arising from your use of, or inability to use, the site or its content, including lost opportunities or business interruption. We are not responsible for errors or omissions in data, scenarios, or implied expectations views, whether arising from third party sources, technical issues, or model limitations. Nothing in these terms excludes or limits liability that cannot be excluded or limited under applicable law. Past performance does not guarantee future results, and results may vary.

Indemnification

To the extent permitted by applicable law, you agree to indemnify and hold harmless Delunavora, its team members, and affiliates from and against any claims, losses, damages, liabilities, and reasonable expenses arising out of or related to your misuse of the site, your violation of these terms, or your infringement of any rights of a third party. This obligation does not apply where it would conflict with mandatory protections in your jurisdiction, and nothing in it limits rights you may have under consumer or privacy laws.

Handling disputes

We aim to address concerns about the site or these terms through clear communication. If you believe that your rights have been affected or that we have not complied with these terms, you should contact us first so we can review the issue. Many disagreements can be resolved informally once both sides understand the facts and expectations. If informal efforts do not resolve the matter, the additional steps below may apply, subject to applicable law.

Governing law

These terms, and any dispute or claim arising from or related to them or to your use of the site, are governed by the laws of Canada, without regard to conflict of law principles that would lead to the application of another jurisdiction’s laws. Mandatory consumer or privacy protections that apply in your location remain unaffected. You are responsible for ensuring that your use of the site complies with any additional rules that apply in your own jurisdiction.

Suspension and termination

We may, at our discretion and without prior notice, suspend or terminate your access to the site if we reasonably believe that you have violated these terms, engaged in unlawful behaviour, or posed a risk to our systems or other users. Where appropriate, we may also remove or disable access to content associated with such behaviour. Termination does not affect any rights or obligations that, by their nature, should continue, including limitations of liability, intellectual property protections, and dispute resolution provisions.

Changes to the site and terms

We may change, suspend, or discontinue any aspect of the site at any time, including content, features, or access arrangements, without prior notice. We may also update these terms to reflect new services, technologies, or legal requirements. When we make material changes, we update the effective date at the top of this page and may provide additional notice on the site. Your continued use of the site after changes take effect means you accept the updated terms, subject to any rights you have under applicable law.

Severability

If any provision of these terms is found by a court or other competent authority to be invalid, unlawful, or unenforceable, that provision will be enforced to the maximum extent permissible, and the remaining provisions will continue in full force and effect. Where necessary, the invalid portion will be interpreted in a way that most closely reflects the original intent while remaining consistent with applicable law. This ensures that the overall allocation of responsibilities and limitations described in these terms remains effective.

Entire agreement

These terms, together with our privacy policy, cookie policy, and disclaimer, form the complete agreement between you and us regarding your use of the site, unless we expressly agree in writing to additional or different terms for specific services. If there is a conflict between these terms and any other notices on the site, the more specific provision will usually apply to the relevant subject matter. Any failure by us to enforce a right or provision does not mean we waive that right or provision for the future.

Contact information

Questions about these terms, or about how they interact with our use of AI to analyse implied expectations from options, futures, and swaps, can be directed to us using the contact details listed on our contact page. Please avoid including confidential or time sensitive information in general enquiries. We may keep records of communications related to these terms for administrative, governance, and compliance purposes.