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The DeepMM product suite

Predict better. Earn more.

Four products built to help you make more money by predicting future-event probabilities more accurately with Large Event Model (LEM) technology.

AXORProduction pricing engine

Trade-specific price, spread and yield forecasts.

Explore AXOR ↓ MisesAlgorithmic trader

Automate small trades and inventory management.

Explore Mises → HayekCustomer-trained LEMs

Your data. Your model. Better business decisions.

Explore Hayek → LEMs.aiBroader forecasting platform

Turn outcome probabilities into business value.

Explore LEMs.ai ↗
The World's Leading Large Event Model

Your production
pricing engine.

Deep MM is leading the commercialization of Large Event Models for financial markets. AXOR delivers live US corporate bond pricing intelligence—conditioned on the exact trade your desk needs to price.

Book a Private Demo Explore AXOR pricing →
+44%
Pricing Accuracy
Investment Grade improvement
+48%
Pricing Accuracy
High Yield improvement
400K+
Trades Evaluated
Out-of-sample, Jul–Sep 2025
Live
Top-5 Global Bank
Top-5 bank, systematic credit desk
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The DeepMM product suite

From market intelligence
to desk-level action.

Price with AXOR, our production pricing engine. Train on your own decisions with Hayek. Put an algorithmic trader to work with Mises. Explore the products below, from market pricing and trading to customer-trained models and broader business forecasts.

Mises

Algorithmic trading for the sell side

Make smaller trades
worth your desk’s time.

Put an algorithmic trader to work on smaller flow—and free your traders for bigger tickets, complex risk and client relationships.

  • Monetize smaller flow. Compete for eligible trades that do not justify manual attention.
  • Give the engine a mandate. Rebalance the book, exit positions or acquire inventory within desk-defined objectives.
  • Keep the desk in control. Set limits, permissions and execution boundaries, with supervision and human override.
Built on our leading Large Event Model (LEM) technology: market events and exact transaction context inform decisions—not one generic mark.

Why Mises? Named for Ludwig von Mises, whose criticism of communism and socialist central planning placed market prices at the heart of economic calculation.

Discover Mises
HAYEK

Customer-trained Large Event Models

Your flow. Your edge.
A better-informed quote.

Train a Large Event Model on your proprietary decisions and outcomes, within your infrastructure. Credit quoting is one application—not the boundary.

  • Learn from what only you see. Use timestamped decisions, context and outcomes to learn from your own business history.
  • Predict outcomes for your decisions. Compare outcome probabilities across actions in pricing, trading, inventory and risk, where supported by your data.
  • Keep the model in your environment. Scope private training and inference, customer-owned weights and evaluation against your own baseline.
Your data + contextHayek predictionsYour optimizer
Discover Hayek

The broader Large Event Model platform

LEMs.ai

Better probabilities.
Better business decisions.

Explore event-driven intelligence beyond the trading desk. LEMs.ai helps teams forecast outcomes, compare the expected value of available actions, and make better-informed decisions across pricing, inventory, underwriting and capital allocation.

Define the outcomes. Attach business value. Compare the choices.

Explore LEMs.ai Separate platform · Closed beta

Start with a defined use case and a measured evaluation. Deployment scope, data requirements and integrations are agreed per engagement. Trading outcomes depend on costs, liquidity and risk; returns are not guaranteed.

The P&L Impact

Here's what that's
worth to your desk.

$86M
Annual benefit at 1% market share
Across IG + HY combined
$268M
Annual benefit at league table share
Top-5 global bank equivalent

For systematic desks, every basis point of signal improvement compounds across thousands of trades. The accuracy gap is measurable, cumulative P&L.

$0.0383/side improvement on IG ($15T annual volume) + $0.0748/side on HY ($3.75T annual volume) · 1% market share · vs industry published benchmark

"We've run this for every major dealer. A custom P&L impact estimate with your name on it."

Available on request →
The Paradigm Shift
What Every Firm Has Been Asking

"How do we use AI to cut costs?"

Large Language Models transformed industries built on words. They automate, summarise, and generate text — cost reduction, fewer people doing the same work.

For trading businesses, this is valuable. But it does not grow your trading revenue by a single dollar.

The Real Question

"How do we use AI to grow revenue?"

Financial markets are not built on words. They are built on events. Every trade, every quote, every rate move, every signal firing simultaneously across thousands of instruments.

No language model was ever designed to understand that world. Deep MM built one that is.

Deep MM brings event-driven intelligence into production for financial markets.

Every firm is using the same signals — incumbent pricing models built on legacy technology with fewer than 1,000 parameters. These are the industry benchmarks. They define what the market treats as correct.

AXOR runs on 80 million parameters. Legacy models run on fewer than 1,000.

AXOR is the first signal ever independently validated as meaningfully more accurate than those benchmarks. By +44% on investment grade. By +48% on high yield. Evaluated on 400,000+ out-of-sample trades. Already live at a top-5 global bank.

Commercializing Large Event Models

From research
to production.

Deep MM's AXOR is the world's leading Large Event Model — trained on market events, not language. Large Event Models have academic precedents; Deep MM is leading the effort to commercialize them for financial markets. AXOR brings this approach into production for US corporate bond pricing.

Large Language Model

Trained on words.

Transforms industries built on text — automates tasks, cuts costs, reduces headcount.

The Old Thinking

Does not grow your trading revenue by a single dollar.

Large Event Model — Deep MM AXOR

Trained on market events.

Processing thousands of signals simultaneously. Every trade, every quote, every rate move. Updating every 15–30 seconds. Seeing patterns no legacy model has the capacity to detect.

80 million parameters. 2,000+ intraday features per inference. The model knows the difference between a $100K offer and a $5M offer — because it was trained to.

Not a tool. Not a data feed. The signal that makes every other model in your stack more accurate.

80M
Parameters in AXOR
vs <1,000 in legacy Kalman-filter models
2,000+
Features per inference
Updating every 15–30 seconds throughout the trading day
19
Percentile outputs per inference
5th through 95th — the full probability distribution
The Key Difference

Not a price. A probability distribution.

While some signals include a confidence score, AXOR delivers the full probability distribution — the 5th through 95th percentile of possible outcomes, conditioned on your specific trade size, side, and market conditions. The market doesn't trade at a single price. Your signal shouldn't either.

Legacy Pricing Signal

Output: 127 bps — A single point estimate. No uncertainty. No size conditioning. The same number whether you're trading $100K or $5M.

AXOR — Large Event Model

Output: Full distribution — The 5th through 95th percentile of spread outcomes, conditioned on your specific trade: $1M notional, offer side, US IG corporate bond. The market doesn't trade at a single price. • Your signal shouldn't either.

This is why AXOR outperforms on large trades. The model is conditioned on trade size and side — a $5M offer produces a materially different distribution than a $100K bid. A confidence score tells you how certain a model is about its single estimate. AXOR's distribution tells you the full range of probable outcomes. Your risk is not the same on every trade — your signal should reflect that.

Proven Accuracy

The numbers are unambiguous.

Validated against the industry's published accuracy benchmarks. $0.049 median price error on IG. $0.082 on HY. Evaluated on 400,000+ out-of-sample trades, Jul–Sep 2025. The first model to demonstrably outperform those benchmarks at scale.1

44
+44%
Pricing Accuracy — Investment Grade

Lower median pricing error across a large sample — more consistently closer to the true market price than any competing signal, across all market conditions including stress.

48
+48%
Pricing Accuracy — High Yield

Superior precision on riskier, lower-rated bonds — exactly where pricing errors are most costly to a trading P&L, and exactly where legacy models degrade most severely.

01
Lower median error

More consistently closer to the true market price across all instruments and market regimes.

02
Resilient in volatility

All models degrade under stress. AXOR degrades significantly less — widening the accuracy gap exactly when stakes are highest.

03
Better on large trades

Where the P&L impact of a wrong signal is greatest — AXOR's size-conditional inference means it was built for this.

04
Precise on risky bonds

Superior accuracy on lower-rated, less liquid bonds — exactly where pricing errors are most costly to a trading P&L.

05
Faster response to macro moves

When rates shift or macro conditions change, AXOR maintains its accuracy advantage. Legacy models degrade most severely under macro stress — exactly when you need your signal most.

Independently validated  ·  Live at a top-5 global bank  ·  The first model to demonstrably outperform the industry benchmarks at scale

Independently Validated
$0.049
Median IG Price Error
vs $0.088 published industry benchmark
$0.082
Median HY Price Error
vs $0.157 published industry benchmark

AXOR's price model was evaluated out-of-sample on 400,000+ trades from July through early September, 2025 — entirely after the model's model training cutoff, ensuring no data leakage. Only trades of notional size $150k or above were included.

Deep MM's median price error of $0.049 on IG and $0.082 on HY represents a 44% and 48% improvement respectively over the industry's published accuracy benchmarks. The gap holds consistently across trade sizes and throughout the trading day — including under volatile market conditions where legacy models degrade most.1

1 Compared to CP+'s published accuracy benchmark. Methodology available upon request. Test sets are independent; CP+ figures sourced from the MarketAxess CP+ Whitepaper (2024). Past performance is not indicative of future results.

Live Proof — Top-5 Global Bank

Added Deep MM as
an ensemble input.
Got 12% more accurate.

Integrated AXOR pricing alongside their existing signals — not as a replacement. The ensemble approach delivered a 12% improvement in MAE accuracy on their mid prices immediately.

Deep MM does not require you to rebuild your model. It makes the model you already have significantly more accurate. Drop it in as an additional input and measure the improvement yourself.

They put Deep MM through a full evaluation on their own trading flow. The results spoke for themselves. They are now a paying client in live production.

+12%
MAE accuracy improvement
On mid prices · Ensemble · IG + HY · Live production
Also In Evaluation

Top-10 bulge bracket institutions currently in active evaluation. The desks that move first hold a signal advantage that is very difficult to close.

How It Works

Built differently.
By design.

AXOR is fed a live stream of real-time data the deep neural network has learned to extract signal from: FINRA TRACE (every US corporate bond trade), real-time treasury prices at all benchmark tenors, and equity market signals including SPY, QQQ, HYG, JNK and LQD — plus S&P credit ratings. Every inference is then conditioned on your specific trade parameters — bond identifier, quantity, side, and ATS indicator — producing a probability distribution unique to your trade.

01

FINRA TRACE Feed

Direct connection to FINRA's TRACE — every US corporate bond trade as it occurs, alongside real-time treasury prices at all benchmark tenors and live ETF market signals.

02

2,000+ Feature Extraction

AXOR extracts over 2,000 features per inference from TRACE prints, treasury benchmarks, SPY, QQQ, HYG, JNK, LQD and S&P ratings — simultaneously, in real time.

03

80M Parameter Inference

The LEM processes all signals through 80 million parameters — conditioned on your trade size, side, and ATS indicator — producing a complete probability distribution.

04

WebSocket Delivery

Subscribe to any bond in your universe. Receive the full distribution — 5th through 95th percentile — via WebSocket, refreshing every 15–30 seconds.

Platform-agnostic. No lock-in.

AXOR is delivered via WebSocket connection — one of the most universal data protocols in modern software. Your quant team can integrate the signal into any existing system or data pipeline without migrating off the tools your desk already uses.

No proprietary platform required. No new terminal. Connect once, subscribe to any bond in your universe, route the signal wherever you need it.

See AXOR Live
US Corporate Bonds~20,000 IG + HY securities covered
Price, Spread, or YTMChoose your label per inference
5th–95th Percentile19-point probability distribution
Size-Conditional$1K to $5MM notional supported
Bid / Offer / DealerFull two-sided market view
Historical InferenceBack to January 1, 2019
Up to 32,000 SubscriptionsPer connection simultaneously
Strategic Vision

Built to scale across
your entire firm.

A Large Event Model requires a real-time trade reporting feed — the same way TRACE powers AXOR today. Any market where events are reported in real time is a market where a LEM can be built.

Live Today
IG Corporate Bonds HY Corporate Bonds
Future Vision
EUR Corporate Bonds GBP Corporate Bonds US Treasuries Municipal Bonds Agency MBS Listed Equities FX Interest Rate Swaps CDS Equity Options Cryptocurrencies

This is not a desk-level tool. It is AI infrastructure for the entire trading enterprise. We begin with US IG and HY corporate bonds — the market where pricing accuracy has the highest immediate P&L impact. From there the architecture scales.

Book a Demo
Integration

Built for systematic trading.

API-First Signal-Ready Zero Integration Risk
Simple API

Real-time prices via WebSocket.

Send CUSIP + notional + side. Bid, dealer, and offer streams update continuously throughout the trading day.

No client data required.

Chance-to-Fill

Fill probability for every bond.

Powers smarter RFQ routing, quote optimization, and execution strategy for systematic desks.

Ensemble-Ready

Drop in alongside your existing signals.

Measure the accuracy lift immediately. Deep MM does not require you to rebuild your model.

No model rebuild required.

No data to share. No model to rebuild. Just a better signal.

Hayek · Customer-trained Large Event Models

Your flow. Your edge.
A better-informed quote.

Train a customer-owned Large Event Model on the decisions and outcomes only your business sees. Deploy within your environment, evaluate against your baseline, and use the probabilities to inform pricing, trading, inventory and risk decisions.

Discover Hayek →

The Team

Experience at
your service.

Deep MM brings together decades of machine learning at the world's biggest institutions — JPMorgan, Microsoft — with deep credit trading expertise. We built what the big banks couldn't, because we know exactly how they think.

NP
Nathaniel Powell
Founder & CEO

Nathan built JPMorgan's corporate bond pricing model at the world's largest US credit market maker. He brings that institutional knowledge — plus 15+ years of ML and software engineering — to every firm that accesses AXOR.

Executive Director of Machine Learning — JPMorgan Chase
Head of ML R&D — AIM2
Software Development Engineer — Microsoft (Data Science & ML)
View LinkedIn →
BA
Brian Adams
Principal Lead ML Engineer

Brian leads the engineering architecture that makes AXOR production-grade — high-performance, low-latency systems delivering the signal with bank-grade reliability under any market condition, including maximum volatility.

Senior software engineer across high-performance systems
Specialist in real-time data infrastructure
B.S. Computer Science — Brigham Young University
View LinkedIn →
JF
James Finer
Head of Sales

James spent 16+ years at Goldman Sachs trading every corner of the capital structure through every credit cycle since the GFC. At Deep MM he bridges the world most people keep separate — he speaks trader, and he knows exactly what AXOR can do for a desk like yours.

16+ years at Goldman Sachs — HY, IG, loans, CDS, CDX, converts, swaps
$20B GSAM high-yield platform · $2.5B Liberty Harbor hedge fund
$10B+ annualized HY trading volume · full capital structure expertise
View LinkedIn →

Deep MM did not build a better pricing tool.

We bring Large Event Models into production to understand markets and inform trading decisions.

Our mission is to build AI analysts that help all credit professionals gain insight, confidence, and empowerment. AXOR is purpose-built for US IG and HY corporate bonds — the market where pricing accuracy has the highest P&L impact, and where legacy models fall furthest short.

We are expending more resources concentrated on US corporate bond pricing than JPMorgan was when Nathaniel built their model. This is all we do. And it shows in the numbers.

The Moment You Are In Right Now

This is the window.
Move first.

Think back to 2021. Before ChatGPT. Before every board was asking about AI strategy. There was a brief window when a small number of firms understood what was coming and moved first. This is that window for trading. The Large Event Model is live. A top-5 competitor is already using it. The rest of the industry will know within 12 to 18 months.

Book a Demo Now
Founder & CEO
Nathaniel Powell
nathan@deepmm.com
Head of Sales
James Finer
sales@deepmm.com
Phone
Deep MM
(801) 623-2785
Private Briefing — Available Now

Find the right fit
for your business.

Learn about AXOR, Mises, Hayek or LEMs.ai in a private briefing tailored to your goals. Explore one product or compare all four—we’ll discuss the use cases, data requirements and next steps that matter to you.

AXORProduction pricing intelligence for US corporate bonds.MisesAlgorithmic trading for smaller flow and inventory mandates.HayekCustomer-trained LEMs for proprietary business decisions.LEMs.ai ↗Outcome forecasts and expected-value business decisions.
What to Expect
1
Your goals first

Tell us what you want to improve—from pricing and trading to broader business decisions.

2
The right product for your use case

Explore AXOR, Mises, Hayek or LEMs.ai, with a clear discussion of capabilities, availability and fit.

3
Data, integration and evaluation

Discuss the inputs, systems and success measures appropriate to the product you’re considering.

Or Reach Us Directly
Founder & CEO
Nathaniel Powell
nathan@deepmm.com
Head of Sales
James Finer
sales@deepmm.com
Phone
Deep MM
(801) 623-2785
Schedule a Private Briefing

Pick a time with Nathaniel.

30 minutes to explore AXOR, Mises, Hayek or LEMs.ai. Bring your questions and the use case you have in mind.

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