Terms of use

Parity is business-to-business infrastructure. It sits between an OPERATOR — the platform that holds the customer relationship — and a VENUE that lists and settles event contracts. Three parties, three sets of responsibilities, and almost every question about this service is answered by working out which one owns the thing being asked about.

THE OPERATOR owns the end customer: the account and its credentials, KYC — identity and age verification — the customer cash ledger, deposits and withdrawals, bonuses, deposit and loss limits, time-outs and self-exclusion, and first-line customer support. Parity holds none of those and cannot act on any of them.

PARITY owns the normalized market catalogue and the market data behind it, the quote, the routing decision, the order lifecycle, positions, execution records, the settlement and reconciliation instructions an operator books against its own ledger, and the analytics over all of that.

THE VENUE owns liquidity, the execution of a contract, the wording of the market it authored, the source it resolves against, and its own settlement mechanics.

Two consequences are worth stating outright. Parity does not warehouse event risk: it does not take the other side of a customer’s position. And Parity does not hold or need a customer cash balance — a filled order or a resolved position produces an amount the operator applies to its own book, not a movement in a wallet here.

An order placed through Parity is a durable record, not a message. It is written down, given an identity the operator can recover it by, and moved through a named state machine — accepted, awaiting the operator’s reserve, reserved and awaiting execution, submitted, filled, partially filled, rejected, cancelled, and two explicit states for the case where a venue’s answer is not yet known. The state an order is in is the answer to "what happened to it"; nothing is inferred from a missing row.

An order does not become executable merely by being placed. The operator reserves the customer’s funds on its own book and confirms that reserve, and only then can the order move toward a venue. There is deliberately no transition from an unconfirmed reserve straight to transmission — the invariant is expressed as a missing edge in the state machine rather than as a check somebody can forget to call.

VENUE TRANSMISSION IS BUILT AND GATED. Sending an order to a venue requires live execution to be enabled for the deployment, enabled for that venue specifically, permitted by the venue adapter itself, accompanied by the required attribution and venue credentials, and armed for that individual order. Every requirement is evaluated independently and any one of them unmet is a refusal. The refusal is recorded and returned with the exact request that would have been sent, rather than being swallowed or retried into an unknown.

That last set of conditions is not a single switch, and for the venue adapter it is not a configuration value at all: the adapter’s own permission is a constant in the source, so enabling it is a code change that goes through review. Until certification is complete and those gates are deliberately opened, an order is recorded and parked in a named state rather than sent — and the vocabulary does not change when they are opened, because a parked order then walks the ordinary path.

Where an integration is being certified rather than run for customers, a sandbox tenant with simulated fills exists for exactly that purpose. Which mode applies is a property of the tenant, decided by Parity, and nothing a request carries — a header, a flag, a key prefix somebody invented — can move an operator across that boundary.

This website is Parity’s own: a product description, developer documentation, and a self-guided demonstration of the player experience so a partner can see what an integration looks like before building one.

The demonstration is not connected to an operator and is not an account. It has no sign-in, the balance it shows is illustrative and held in your own browser, and nothing placed in it reaches a venue or is charged to anyone. It exists to show a workflow, not to be one.

It is not, however, a toy detached from the product. A demonstration order asks the real server for a real quote and is recorded by the real order path — against a random label your browser made for itself, not against any account. That is deliberate: a demonstration built on a parallel implementation would stop being evidence that the real one works. The privacy policy says what it means for you.

The operator-facing product is a different thing reached with credentials: an API, an embeddable interface, and a portal. What that product does is described above and in the developer documentation, which is the authoritative description of the behaviour a partner integrates against.

You may browse the catalogue, use the demonstration, read the developer documentation, and evaluate the public API for the purpose of assessing Parity.

You may not attempt to interfere with the service, to reach data or tenants you have not been granted access to, to place automated load on the API beyond ordinary evaluation, or to represent this website as a live trading venue to any third party.

Operator access is granted under a commercial agreement and is scoped to a tenant. Keys, embed session tokens and portal accounts are issued to a party, not to a person, and are not transferable.

Nothing on this site is investment, financial, legal or tax advice, and nothing here is an offer or solicitation to trade any instrument.

Event contracts carry the risk of total loss of the amount committed. Whether such contracts may lawfully be offered to a given customer is determined by the operating platform and that customer’s jurisdiction, not by Parity. Parity provides a per-operator offering policy so a partner can switch venues, categories, events or individual markets off for their traffic — that mechanism is a routing control an operator configures, and it is not, and does not claim to be, a compliance determination.

A price shown by Parity originates with the venue that lists the contract. Parity normalizes and republishes it; it does not author the question and does not decide the outcome.

Nothing is priced in the browser. A quote is computed on the server, persisted with an identifier and an expiry, and an order is checked against that stored quote rather than against whatever a page happened to display. That is what makes "the screen said 21¢" an answerable question instead of an unfalsifiable one.

Quotes carry an age, and age decides what is allowed: a fresh price quotes normally, a materially behind price is capped to a small stake, and a price too far behind to trust is not quoted at all. A refusal on those grounds is the system working, not an outage.

Parity’s fee is taken off the top of the stake rather than added to it, so the amount a customer commits is the amount an operator authorizes and a fully filled order releases nothing. An operator’s commercial terms may also carry a margin applied to the price, and a venue fee applies where the venue publishes one. Every one of those figures is derived once and handed to the operator to apply; a partner who recomputes them has created a second answer to a question that has one.

This website and the sandbox are provided as-is and without any availability commitment. They may change, break, or be taken down without notice.

Availability, support and incident commitments for a production integration live in a commercial agreement, not on this page.

Operational information. This page describes how Parity operates today. It has not been reviewed by legal counsel and is not a contract.

A live commercial deployment needs a named contracting entity, a governing law and jurisdiction, and a jurisdiction-by-jurisdiction analysis of where event contracts may be offered and by whom. Those decisions have not been made. This page names them as outstanding rather than filling in a plausible answer, because an invented one is the detail that gets checked.

If you are evaluating Parity commercially, ask for the current draft of the agreement. That, and not this page, is what would bind either of us.