WATERLOO, Ontario, May 31, 2018 /PRNewswire/ — DelphX Capital Markets Inc. (DELX.V) (“DelphX“) announced today that John Lunz has resigned from the DelphX board of directors due to his professional-conflict limitations in his role as a registered investment advisor. DelphX is very grateful to Mr. Lunz for his considerable contributions to the company and extends to him the very best wishes.
DelphX has commenced its search to identify and appoint a highly qualified new non-officer director. A. Gordon Jardin, FSA, MAAA, DelphX’s Chief Actuary and Risk Officer of will serve on the audit committee in the stead of Mr. Lunz until the new non-officer director is appointed. That appointment will occur prior to the next annual meeting of DelphX.
DelphX is a technology company focused on optimizing fixed income markets around the world by transforming the way credit capital is secured. Its blockchain-powered solution employs proprietary distributed ledger technology and actuarial science to facilitate broad diffusion of default risks. The new DelphX alternative trading system (“ATS”) market will be regulated by the SEC and operated by DelphX Services Corporation, a FINRA member firm, to facilitate the negotiation, purchase and trading of two new forms of Smart Contract securities:
- Covered Put Option (CPO) securities that provide secured default protection for U.S. dollar-denominated corporate, municipal and sovereign securities, with the strike-price of each CPO equaling the total par value of its underlying security; and
- Covered Reference Note (CRN) securities that allow investors to take on default exposure relating to a single underlying security or to participate in a pool of diverse risks that broadly diffuses the impact of credit events among all participants.
All CPO and CRN securities will be issued by Quantem Capital Corporation Ltd.(“Quantem”), a Bermuda-domiciled subsidiary of DelphX, and transparently administered within Quantem’s immutable Distributed Ledger. A traditional book-entry record of each security will also be maintained in parallel by Quantem’s issuing and paying agent to provide additional transparency and efficiency.
DelphX is headquartered in the U.S., with locations in Pennsylvania and New Jersey, and its development operations are located in the Kitchener-Waterloo(“Silicon Valley North”) region of Canada.
For more information about DelphX, please visit www.delphx.com.
This news release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, qualification or availability of an exemption under the securities laws of that jurisdiction.
This news release contains certain “forward-looking statements” including, without limitation, statements regarding the launch of the DelphX market. Such forward-looking statements involve risks and uncertainties, both known and unknown. The results or events depicted in these forward-looking statements may differ materially from actual results or events. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding and are implicit in, among other things: the state of the capital markets, tax issues associated with doing business internationally, the ability of DelphX to successfully manage the risks inherent in pursuing business opportunities in the financial services and Blockchain 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 securities laws, DelphX disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.