New York, NY -- (ReleaseWire) -- 04/08/2010 -- DelphX Capital Markets LLC, developer of the new “Sigma” (Syndicated, Investor-Guaranteed and Managed Asset) form of asset-backed securities, and “DelphX” (the transparent market through which Sigmas will be valued and traded by institutional market participants), announced today it has chosen Bowne & Co., Inc. to exclusively host its “DataNet” network of virtual data rooms. The integration of DataNet within DelphX will enable all market participants and regulators to:
- Access detailed asset and loan level information regarding every Sigma asset, portfolio and issue, and continuously monitor its ongoing performance in real-time; and
- Collectively assess the risk and current value of each Sigma portfolio through a continuous application of the respected Delphi Method, and anonymously trade all Sigma issues on DelphX, an SEC-regulated Alternative Trading System.
“In our search for the optimal DataNet host, we reviewed many VDR providers and platforms, and found the Bowne team and their SmartroomSM technology to be the best in every category” said Larry Fondren, DelphX CEO. He added, “Bowne’s state-of-the-art SmartroomSM assures all market participants 24/7/365 access to the granular detail, documentation and real-time market data they need to independently assess the risk and value of every Sigma asset and portfolio”.
Brandon Farley, Global Director of Bowne Smartroom, noted “We’re delighted to be hosting the secure, high-speed and intuitive DataNet environment DelphX participants need to value and trade Sigmas, and we’re also very pleased to be an integral part of this new transparent form of asset-backed securitization, increasing our engagement in this data-rich market”.
Gerry Oakes, Senior Vice President of Mortgage Industry Advisory Corporation (“MIAC”), which oversees the loading and updating of all deal, asset and loan level documents and information within DataNet, added, “We’re very impressed with the forefront technology of the Bowne Smartroom, and I’m personally pleased to be working with the Bowne team”.
Through DataNet and its regulated ATS, DelphX will enable all market participants to access detailed and continuously updated information regarding every amortizing asset in a Sigma portfolio and independently and collectively assess the risk and potential value of those assets and securities. Participants can also employ that vital information, and the details of all anonymous orders and trades of other DelphX participants, to determine the optimal price and terms of its own orders to buy or sell Sigma securities. All trades negotiated through DelphX are settled with the Depositary of the applicable issue (which acts as the counterparty to both buyer and seller). To learn more about Sigmas and “Securitization 2.0”, please visit http://www.DelphX.com.
About SmartroomSM and Bowne & Co
Formerly Bowne Virtual Dataroom, SmartroomSM is a dedicated Web facility that provides authorized users with access to a secure on-line repository of documents. Often engaged for due diligence relevant to an M&A transaction, it is also used widely for other purposes, ranging from corporate data repository to portfolio management and fund-raising.
Bowne provides shareholder and marketing communications services around the world. Dealmakers rely on Bowne to handle critical capital markets communications with speed and accuracy. Compliance professionals turn to Bowne to prepare and file regulatory and shareholder communications online and in print. Investment managers and third party fund administrators count on Bowne's integrated solutions to streamline their document processes and produce high quality communications for their shareholders. Marketers look to Bowne to create and distribute customized, one-to-one communications on demand. With 2,800 employees in 50 offices around the globe, Bowne has met the ever-changing demands of its clients for more than 230 years. For more information, please visit http://www.Bowne.com
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 trademarked MIAC Analytics software suite has long been the risk management solution of choice for originators and servicers responding to 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. For more information, please visit http://www.MIACAnalytics.com