Toronto, Ontario–(Newsfile Corp. – March 22, 2021) – DelphX Capital Markets Inc. (TSXV: DELX) (“DelphX”) is pleased to announce the appointment of industry veteran Keith Styrcula to its recently-formed Strategic Advisory Committee. The Company is in the process of assembling a team of fixed income and structured product industry experts to spearhead the launch of the DelphX Covered Put Options (CPOs) and Covered Reference Notes (CRNs) facility. Forming an advisory team of recognized professionals is an important next step as the Company introduces its suite of industry-first products to major institutions across the United States.
Today, Mr. Styrcula is best known as the Founder and Chairman of the 17,500-member Structured Products Association, but his imprint on the structured investments and derivatives markets dates back more than two decades. His broad industry experience includes product platforms and marketed index-linked products, derivatives, ETFs, hedge funds, commodities, ’40 Act vehicles, alternatives, SPACs, and infrastructure transactions, with more than $20 billion in financial product placement during his career. A graduate of Fordham Law School, he has pioneered numerous innovations in the ETF, structured notes and indexing businesses.
Prior to his current positions, he was also the Founder and Head of the Structured Solutions Group in the Equities Division at JP Morgan, which issued the first structured Unit Investment Trust. He has also held senior positions at Credit Suisse, UBS, Société Générale and Scotiabank, where he structured investments linked to indexes, baskets, commodities, mutual funds, hedge funds and private equity for institutional-grade family offices, money-center financial institutions, and ultra-high net worth investors. Among his awards over the years, he was named by Structured Products Magazine as one of the “10 Most Influential Executives in the Global Structured Products Industry.”
“The DelphX team is introducing an exciting and innovative breakthrough strategy to the $4 trillion credit-linked structured products market,” said Styrcula. “I’m highly gratified to work with Pat Wood and the DelphX team as a special advisor to bring this visionary financial structure to insurance, financial, pension, and family office end-users as a highly-attractive alternative to the OTC swap market.”
“As we completed the technology behind our proprietary structured product offering, our strategic focus turned to assemble a team of respected industry leaders to assist DelphX during the introductory phase of our product cycle,” said DelphX CEO Patrick Wood. “Bringing an advisor of Keith’s stature onto our advisory board is more than just a vote of confidence in our products, but also gives us immediate access to his network of industry contacts, which includes the largest and most successful companies in the business. Our goal is to build a strategic advisory team that catches the attention of the key players in this industry, so we appreciate Keith’s role in kicking off this important objective. We will be naming additional members in coming weeks to create an all-star team to guide us through our commercial launch.”
DelphX is a technology and financial services company focused on bringing new and exciting alternatives to structured product and credit markets. Through its special purpose vehicle Quantem and its broker-dealer DelphX Services Corp, it enables fixed-income dealers to offer new Rule 144A securities that optimally transfer and diffuse credit risk, while allowing the enhancement of yield. The new DelphX platform will be regulated by the SEC and enable dealers to competitively structure, sell and make markets in:
- Covered Put Options (CPOs) that provide secured default protection for underlying corporate, municipal and sovereign securities, and
- Covered Reference Notes (CRNs) that enable credit investors to take on the default exposure of single underlying security in exchange for enhanced yield.
All CPOs and CRNs will be collateralized and held in custody by an independent custodian. CPOs and CRNs are proprietary products created and owned by DelphX Capital Markets Inc.
For more information about DelphX, please visit www.delphx.com.
Patrick Wood, President & CEO
DelphX Capital Markets Inc.
E: [email protected]
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.