DelphX Capital Markets Inc. is adding a new vertical to its business operations (beginning in January 2024) through the creation of an in-house sales team. This operational expansion will leverage the reach of the Company's existing wholly-owned broker dealer and provide the potential for significantly improved margins on each transaction. DelphX is in the process of launching a novel Credit Rating Security (CRS) product, which will give bond holders and traders the ability to position against potential rating changes on existing bonds. The sales team will operate out of the New York office and target institutional customers who can utilize the Company's credit rating securities as part of their trading or risk management. To
facilitate this extension into a new revenue-generating vertical, DelphX has expanded its office footprint and is in the process of hiring registered and highly experienced sales professionals with track records serving institutional buyside accounts.