DelphX Launches Realtime Fair-Value Pricing Platform For Fixed Income Securities
System Continuously Calculates, Validates and Globally Distributes the Current Fair-Values of more than 30,000 Corporate Bonds, Including Rarely-Traded Issues
25 Sep, 2013, 09:00 ET
NEW YORK, Sept. 25, 2013 /PRNewswire/ -- DelphX announced today the launch of the pricing-element of the first securities trading platform to provide realtime fair-value pricing for all of its listed issues. Powered by the proprietary MAV=n™ (Market-Adjusted Value per congruent nexus) technology, DelphX provides continuous pre-trade and post-trade pricing information to all market participants in realtime, and will soon enable those participants to also anonymously act upon that information through its centralized all-to-all trading facility.
"Knowledge of the current fair-value of a security at the time it is to be bought or sold is essential to Best Execution. Trading without that knowledge produces a severe disadvantage and an increased likelihood of executing at less than fair-value," said Larry Fondren, President and CEO of DelphX. By facilitating more effective price-discovery and more informed transactions, DelphX enables market participants to manage risk more efficiently, and to capitalize on emerging opportunities in realtime.
While focusing initially on publishing the current fair-values of U.S. corporate bonds, DelphX will expand its MAV=n functionality in 2014 to also calculate, validate and distribute the current fair-values of more than 100,000 outstanding ABS, MBS and other debt instruments in realtime. Anonymous all-to-all trading of those securities forms will also be implemented then for both primary and secondary market transactions.
"Working with our global best-in-class partners, we've designed DelphX to provide the information, enabling technology and neutral environment required for more efficient capital formation, sustained market liquidity, lower transaction costs and more effective risk and opportunity management," concluded Fondren.
DelphX is the innovation leader in the development and operation of anonymous, equitable and informed bond markets. DelphX delivers the only fixed-income market to provide continuous real-time fair-value pricing for more than 30,000 listed securities, including those that rarely trade, and open all-to-all trading of those issues.
Market-based valuation of an array of fixed income securities is enabled by the proprietary MAV=n protocol, which continuously calculates, adjusts, validates and publishes the fair-value price of every DelphX-listed security, based on the historical and current transaction pricing of comparable securities determined to be ratably congruent. The regulated market functions of DelphX are managed by DelphX Services Corporation, an SEC-registered broker/dealer and FINRA-member firm.
For more information, please visit www.delphx.com.
Share this article