DelphX Selects MIAC for “Securitization 2.0” Initiative
New “Sigma” ABS Aimed at Restoring Investor
Confidence and Credit Markets
New York, NY- January 12, 2010 – DelphX Capital Markets LLC, developer of the new “Sigma” (Syndicated Investor-Guaranteed and Managed Asset) form of asset-backed security, and “DelphX” (the transparent Delphi Method-based market through which Sigmas are valued and traded), announced today it has engaged Mortgage Industry Advisory Corporation (MIAC) to secure its required data management services. An expanded version of MIAC’s DataRaptor® technology will be dynamically integrated within DelphX to enable institutional investors, FINRA member firms and other subscribe1rs to:
- Access detailed online asset-level information regarding every Sigma portfolio, and monitor its monthly performance thereafter; and
- Collectively assess the current value of each Sigma portfolio and related Sigma securities, through a continuous real-time application of the Delphi Method, and anonymously trade all Sigma issues in a transparent SEC-regulated market.
In addition, MIAC is developing other DelphX-linked software it will deploy to provide independent Sigma valuation, forecasting and analytic services to subscribers. Other third-party advisory firms are also expected to create DelphX-linked software that will provide a host of options to investors seeking independent valuations of Sigma assets, portfolios and securities.
“MIAC’s DataRaptor® enables us to integrate a proven data-standardization tool within DelphX and significantly increase the depth and granularity of the asset information our subscribers will require to assess the current and prospective value of every Sigma issue. By engaging MIAC, we also materially accelerate the implementation of DelphX” said Larry Fondren, DelphX’s CEO.
Gerry Oakes, a MIAC Senior Vice President, added “We’re delighted to provide the ongoing and detailed asset-level information DelphX subscribers employ to dynamically value and trade Sigmas. We also look forward to independently providing our industry-leading analytic, valuation, forecasting and other third-party services to DelphX subscribers globally.”
About DelphX
Through an SEC-regulated Alternative Trading System, DelphX will enable institutional investors, FINRA member firms and other qualified subscribers to: 1) dynamically access detailed historical, and continuously monitored and updated, information regarding every asset held in a “Sigma” (“Syndicated Investor-Guaranteed and Managed Asset”) portfolio; 2) independently and collectively assess the respective current value of those assets, portfolios and related Sigma ABS (through a continuous real-time application of the Delphi Method); 3) enter anonymous orders to buy and sell any Sigma issue; 4) view the price, size and terms of the current bids, offers and trades of all other subscribers; and 5) settle all transactions with a common neutral counterparty. To learn more, visit www.DelphX.com
About MIAC
With its headquarters in the Wall Street area, MIAC, a registered SEC Investment Advisor, has been the preferred destination for sophisticated mortgage participants since 1989. The MIAC Analytic’s™ software suite, including DataRaptor®, MarketShield™, WinOAS™, and VAST™ have long been the risk management solution of choice for originators and servicers responding to the opportunities in the constantly evolving mortgage market. From loan origination to balance sheet risk management, MIAC offers integrated and comprehensive solutions for mortgage originators, servicing owners, and MBS portfolio managers. No other analytical software provides the SOX compliance, integrated risk management and comprehensive GAAP accounting solutions that MIAC provides today. MIAC’s software suite fully supports accounting and regulatory compliance, including FAS 140, FAS 156, FAS 157 and SEC SAB 109.
www.MIACAnalytics.com
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(212) 233-1250 x 258
Gerry.Oakes@MIACAnalytics.com