Terms of use

Last updated 21 September 2026

Tape is a free markets terminal built and run by one person as a personal project. Using it means accepting what is on this page.

This is not financial advice

Nothing on this site is advice, a recommendation, a solicitation or an offer to buy or sell anything. Tape is not a broker, not a bank, not an investment firm, and is not regulated by the AMF or any other authority. No part of it is tailored to your situation, because it knows nothing about your situation.

The pricers, the volatility models, the regime and factor screens and the risk premia pages exist to show how the calculations work. They are teaching tools and research exercises, not signals. If you trade on anything you read here, that decision is entirely yours and so is the outcome.

The data

Prices are delayed by up to 15 minutes, and some of them by more. Crypto quotes are closer to live, index and option data can lag further. Everything comes from third-party providers, is passed through without any guarantee, and can be wrong, stale, incomplete or missing outright. Option chains, implied volatilities, fundamentals, headlines and event dates are all worth checking against a primary source before they matter to you.

Calculated figures, meaning every volatility estimate, Greek, fitted surface, model output and backtest on the site, are computed from that same third-party data. An error upstream becomes an error here. Backtested or historical results are not a guide to anything future.

Accounts

An account is optional and only unlocks the watchlist. Keep your password to yourself, and tell me if you think someone else has it. Accounts that are used to attack or abuse the site can be closed without warning.

Fair use

Use the site through a browser, the way it is meant to be used. Do not scrape it, do not automate requests against the API, do not resell or redistribute the data, and do not try to break, overload or gain access to parts of it that are not yours. The site is free and runs on one small server, so heavy automated traffic takes it down for everyone.

No warranty, and what I am liable for

Tape is provided as it is, with no warranty of any kind. There is no promise that it will be available, accurate, uninterrupted or free of errors. To the fullest extent the law allows, I am not liable for any loss arising from using the site or relying on anything in it, including trading losses. Nothing here limits liability that cannot legally be limited.

It can change or stop

This is a personal project. Features can change, break or disappear, and the whole site can be taken down, at any time and without notice.

Ownership

The site, its design and its code belong to Georges Al Haddad. Market data belongs to the providers it came from.

Law

These terms are governed by French law, and the French courts have jurisdiction over any dispute.

Contact

Questions about any of this go to georges.alhaddad28@gmail.com.