DelphX Announces LPS Capital as Partner for Structured Products

March 22, 2022 10:05 AM EDT | Source: DelphX Capital Markets Inc.

Toronto, Ontario--(Newsfile Corp. - March 22, 2022) - DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) ("DelphX") is pleased to announce an agreement with New York-based LPS Capital LLC ("LPS") under which LPS will work with DelphX to advance the proprietary DelphX Collateralized Put Options (CPOs) and Collateralized Reference Notes (CRNs) structured products. LPS (member FINRA/SIPC/NFA) works with a highly relevant list of clients, including banks, broker-dealers, trading firms, hedge funds, family offices, and insurance companies that are active in Delphx's target markets.

LPS Capital is a full-service, boutique Broker Dealer which offers a wide range of research, sales and execution services in investment grade bonds, convertible bonds, high yield bonds, preferred stock, equities, post-bankruptcy reorganized equities, mortgages, bank loans, as well as distressed and special situation securities.

"Today's announcement is a watershed event for our company, because it provides us with both an established broker dealer and an experienced team to introduce our industry-first products into the marketplace," explained DelphX CEO Patrick Wood. "LPS will save us many quarters of outreach, giving us much faster exposure to the kind of clients we will need in order to build scale as quickly as possible. We are really encouraged by the enthusiasm of the LPS team and look forward to collaborating on a successful launch of what we believe is a superior set of solutions to improve yield and risk."

"With volatility and uncertainty in the financial and commodity markets hitting levels not seen in decades, the timing could not be better for the DelphX structured products," explained John Lugano, Founding Partner of LPS Partners LLC and Director of Fixed Income Trading at LPS Capital. "We appreciate this opportunity to help launch what we believe could become an important new set of tools for asset managers."

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 $15 trillion in Credit Default Swaps (CDSs) and U.S. Investment Grade Corporate Bonds, based on ISDA Global Credit Default Swaps Market Study, September 2019 and SIFMA US Corporate Bonds Statistics as at Q4 2021.

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 qualified institutional investors (QIBs) to competitively structure, sell and make markets in:

  • 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 an independent custodian. CPOs and CRNs are proprietary products created and owned by DelphX Capital Markets.

For more information about DelphX, please visit

About LPS Partners LLC

LPS Partners LLC, headquartered in New York City, was founded in January of 2013 as an idea-driven firm focusing on long-term value creation and solid relationship building. Through its subsidiaries, LPS Capital (member FINRA/SIPC/NFA) and LPS Futures (member NFA), LPS Partners is able to deliver comprehensive knowledge of the markets matched with a thorough understanding of clients' strategic needs. Our professionals have in-depth knowledge of the companies and the industries they cover. This enables the LPS companies to facilitate timely and efficient execution of ideas and insights across an issuer's financial capital structure, including bank loans, debt securities, post reorganization equities, special situation claims and listed and unlisted equities. Our clients include banks, broker-dealers, trading firms, hedge funds, family offices, insurance companies, refineries and airlines.


Mark Forney, Corporate Development
DelphX Capital Markets Inc.

Forward-Looking Statements

This news release contains certain "forward-looking statements" including, without limitation, statements regarding the introduction of the DelphX products into the marketplace. 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.

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