Terms

These terms apply to the Secondaries Desk website, the published transaction index, and the signed-in workspace. Using any of them means accepting them.

The published transaction catalogue, its search, filters and pagination, Metrics, and public transaction pages can be consulted without an account. A confirmed account is needed to open a value's supporting detail or sources and to read a full Equity Story.

An account is personal. Keep your password to yourself, and do not let someone else use your account or share your session with them. You are responsible for what happens under your account.

The email address you register must be one you control, and it must be accurate — confirmation is sent to it, and it is how we would answer a request from you. Tell us if you believe your account has been used without your knowledge.

You may read the database, search and filter it, and use what you find in your own analysis and internal work. That is what it is for.

Secondaries Desk records what sources say about transactions. It is a reference, not advice. Nothing in it is financial, investment, legal, tax or accounting advice, and nothing in it is a recommendation to buy, sell, hold or price anything.

Decisions taken on the strength of what you read here are yours. Verify anything that matters against the underlying sources, which is why every value names one.

Values are attached to the sources that support them, and each value says what kind of value it is. ⓔ marks an estimate, ~ marks an approximation, and N/A means that nothing in the sources supports a value in that position — it is not zero and it is not a confirmed figure.

Where a source is wrong, incomplete or later corrected, the record can be wrong until it is amended. Read the qualifiers as part of the value.

The database is not exhaustive and is not offered as a complete record of the market. Coverage grows as transactions are researched and reviewed, and the absence of a transaction means nothing about whether it took place.

Records may be incomplete, may change as sources improve, and may be corrected at any time. No warranty is given that any particular transaction, field or figure is present, current or free of error.

The selection, classification, structure and presentation of the database are ours, along with the site's text, design and code. Where database rights are recognised, they are reserved.

Individual underlying facts are not owned by anyone. What is protected is the work of assembling, verifying and structuring them.

Do not scrape, crawl or otherwise extract the database by automated means without written permission. Do not copy a substantial part of it, and do not repeatedly extract insubstantial parts so as to reconstruct it.

Do not redistribute, republish, resell or sublicense the database or a substantial part of it. Do not present it as your own product or data set.

Do not work around the access controls: no shared or sold accounts, no scripted sign-ins, no attempt to reach signed-in material without an account, and no probing or disrupting the service.

The service is provided as it stands, and it can be interrupted for maintenance, for an incident, or because a provider we depend on is unavailable. No level of availability is promised.

The product will change. Views, fields, filters and access rules may be added, altered or withdrawn as the database develops.

An account may be suspended or closed if it is used in breach of these terms — in particular for automated extraction, redistribution, sharing of access, or interference with the service.

The service is provided on an "as is" and "as available" basis. Beyond what these terms state plainly, and to the extent the law allows, no other warranty is given — including as to accuracy, completeness, fitness for a particular purpose, or uninterrupted operation.

To the extent the law allows, we are not liable for indirect or consequential loss, for lost profit or opportunity, or for a decision taken in reliance on the database.

Nothing here limits liability that cannot be limited by law, including liability for fraud, for fraudulent misrepresentation, or for death or personal injury caused by negligence.

These terms will change as the service does. When they change materially, the new version replaces this one on this page, and continuing to use the service means accepting it.

Questions about these terms or the service can be sent to contact@secondariesdesk.com.