# Legal notice

Cross-Asset Desk Research; Updated 24 September 2026

The disclosure comes first because a reader is entitled to weigh everything else against it. Cross-Asset
Desk is paid to publish. A venue researched on these pages may be connected to the party that paid for
them to exist, this desk makes no claim to standing above that arrangement, and what the money does and
does not reach is written out on [About this desk](/about). The clauses below cover the rest.

## The subject of these pages

This site researches venues that list perpetual contracts on assets beyond crypto: what each one
lists, when those markets are open, what a round trip costs there and how deep the book stood in the
readings behind a page. Nothing published here is investment, legal or tax advice, an offer or a
recommendation, and no page here knows anything at all about the reader in front of it.

## Price exposure, and nothing else

A perpetual contract on gold, on crude oil, on a currency pair or on a listed share gives exposure to
a price. It delivers no metal, no barrel, no shareholding, no dividend and no vote, and settlement
happens in stablecoin rather than in the asset the contract is named after. These are leveraged
instruments and a position can lose the entire margin standing behind it. A market that closes can
reopen at a different price, which is a risk carried by the holder and not by the venue.

## A figure and the day it was taken

Figures come from primary sources and each carries the date it was read. Venues reprice, add and
retire markets, redraw leverage ladders and change trading hours without notice. A number here is
correct as of the date printed beside it, and confirming it at the venue before acting is the
reader's step. Where a venue's marketing page and its terms disagree, the terms are what these pages
quote.

## Admission is the venue's decision

Whether a venue will take you as a customer is settled by its own terms and by the law of the place
you live in, and it is settled there and nowhere else. The restrictions a venue publishes are
reported on these pages as published; no page here assists anybody in working around one.

## What the server records

One record exists, and it is the ordinary access log a web server keeps: the address a request came
from, the moment it arrived, the page asked for, the browser string it carried and the referring page
where a browser sends one. It exists so the site stays reachable and so heavy automated traffic can be
spotted, and it travels no further — not to an advertiser, not to a data broker, not into anyone's
portrait of a reader.

Beyond that log the site collects nothing, because it was built with nothing to collect with: no
cookie, no measurement tag, no advertising script, nothing pulled in from another host, and no field
anywhere to type into. Mail sent to desk@gerhardandlinger.net is kept for as long as answering
it takes and for no other purpose. The fields inside that log line, the number of days the file
holding it survives and the way to have an entry lifted out are written out on
[reader privacy](/reader-privacy).

## Marks, quoting and corrections

Venue names and trademarks belong to their owners and appear only to identify which venue is being
discussed; their appearance implies no relationship in either direction. The pages carry no warranty
of accuracy or completeness. Quote them with a link back to the page quoted, and send corrections to
desk@gerhardandlinger.net with the address of the page and a link to whatever shows the right
value.


This desk is paid to publish, and a venue covered here may be the party that paid.