Under the licensing agreement, Halo will construct for DelphX an industry-first automated platform that will allow both buyside firms and dealers to negotiate and trade the DelphX-issued Collateralized Put Options (CPOs) and Collateralized Reference Notes (CRNs).
This new platform will leverage Halo's current technology with a customized overlay to meet the needs of DelphX's new product, thereby propelling DelphX forward as a leading innovator in structured product technology. The platform will provide significant improvements in ease of access, transparency, and individual control over the investment process for all participants.
'To partner with one of the fastest growing, most innovative companies in our space is humbling and gratifying, because it validates the importance of our technology and the potential role for CPOs and CRNs in the marketplace,' said DelphX CEO
As a reminder, the DelphX CPO/CRN products are structured as private placement securities, making them acceptable for use by managers who cannot utilize traditional derivatives or swaps. The initial target market is significant, currently estimated to represent over
About
DelphX is a technology and financial services company focused on developing and distributing the next generation of structured products. Through its special purpose vehicle
Collateralized put options (CPOs) that provide secured default protection for underlying corporate, municipal and sovereign securities;
Collateralized reference notes (CRNs) that enable credit investors to take on the default exposure of an underlying security in exchange for enhanced yield.
All CPOs and CRNs are fully collateralized and held in custody by
For more information about DelphX, please visit www.delphx.com.
Contact:
Corporate Development
E: Mark.forney@delphx.com
T: (718) 509-2160
Forward-Looking Statements
This news release contains certain 'forward-looking statements' including, without limitation, statements regarding the launch of the DelphX platform. Such forward-looking statements involve risks and uncertainties, both known and unknown, that may cause actual results or events to be materially different from those expressed or implied by such forward-looking statements, including but not limited to, business, economic and capital market conditions, regulatory uncertainties, and the demand for our products. The forward-looking statements in this news release are based on factors and assumptions regarding, among other things, the state of the capital markets, the ability of DelphX to successfully manage the risks inherent in pursuing business opportunities in the financial services industry, and the ability of DelphX to obtain qualified staff, equipment and services in a timely and cost-efficient manner to develop its business. Any forward-looking statement reflects information available to DelphX as of the date of this news release and, except as may be required by applicable laws, DelphX undertakes no intent or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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