Toronto, Ontario–(Newsfile Corp. – January 16, 2024) – DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) (“DelphX“), a leader in the development of new classes of structured products for the fixed income market, is pleased to announce that fintech industry development specialist Jonathan Deeter has joined the Company as Director of Credit Product Sales to facilitate the commercialization phase of the DelphX Credit Rating Security (CRS) product.
Expansion of the in-house sales and support team is a central theme in management’s strategic plan to promote the CRS product via the Company’s wholly-owned broker dealer. The DelphX CRS product solves a previously unmet need, giving bond holders and traders the ability to position against potential rating changes on existing bonds via a fully collateralized offering.
Mr. Deeter has a strong background in fintech business development, with significant experience optimizing workflows, enhancing operational efficiencies, and implementing reporting metrics of the type required to scale high-volume business in the financial services industry. Most recently, he was a Product Specialist at dv01 (a Fitch Solutions Company), a provider of loan-level lending data.
Previously, he also was Head of Business Development & Strategic Growth at Bond.One, a bond underwriting, distribution and trading platform; Senior Business Development Associate at Finsight Group, a capital markets and corporate finance technology provider; and Business Development Associate at Axial, a leading deal origination and deal marketing platform. His operational experience is comprehensive within the fintech space, including sourcing middle-market financing and M&A deal flow, developing client bases in the U.S. and Europe, CRM platform implementation, and execution of targeted sales campaigns and product demonstrations, with direct involvement in the structured products space.
“Adding Jonathan to our team really rounds out our operational capabilities during this early commercialization phase for our CRS product,” said DelphX CEO Patrick Wood. “His background is almost tailor-made for our upcoming growth phase, as he has previously helped scale an impressively broad range of financial services and products. He has a keen understanding of the many layers of the debt markets and the necessary tools required to build a first-class business unit, touching on many of the most important functional elements of our strategic plan.”
“I’ve spent most of my career in business development helping to build products and markets for fintech pioneers,” explained new Director of Credit Product Sales Jonahan Deeter. “The DelphX CRS product fills a gap in the structured products market – creating actionable opportunities during that time frame when existing bonds are most vulnerable to rating changes. With rating downgrades far more common than defaults, there is a strong case that the CRS solution could be applied to at least some portion of most institutional bond portfolios. I am excited to join the DelphX team as we address this very large market opportunity.”
About DelphX Capital Markets Inc.
DelphX is a technology and financial services company focused on developing and distributing the next generation of structured products. Through its special purpose vehicle Quantem LLC, the Company enables fixed income dealers to offer new private placement securities that optimally transfer and diffuse credit risk, while allowing the enhancement of yield. The new DelphX securities will enable dealers and their qualified institutional investors (QIBs) accounts to competitively structure, sell and make markets in:
- Collateralized put options (CPOs) that provide secured default protection or rating downgrade protection for underlying corporate, municipal and sovereign securities;
- Collateralized reference notes (CRNs) that enable credit investors to take on the default or rating downgrade exposure of an underlying security in exchange for enhanced yield.
All CPOs and CRNs are fully collateralized and held in custody by BNY Mellon. CPOs and CRNs are proprietary products created and owned by DelphX Capital Markets.
For more information about DelphX, please visit www.delphx.com.
Mark Forney, Corporate Development
DelphX Capital Markets Inc.
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.
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.