After almost 50 years in the business, Delphis Hanover Corp., a municipal bond market research firm based in Southbury, Conn., will cease operations.
Sources close to the company said the closure comes because the firm’s president and founder, Austin C. Tobin, is ill.
The firm, which has priced muni bonds and other market data daily since 1963, will publish its final daily report for yield curves in the municipal market Thursday. In addition to publishing bond yields, Delphis Hanover did consulting and pricing advisory work. The firm helped muni issuers and financial advisors determine pre-sale fair market value pricing levels for negotiated offerings, as well as provide in-depth post-sale documentation.
Tobin is the son of Austin J. Tobin, who from 1942 until 1972 served as the executive director of the Port of New York Authority, the precursor to the Port Authority of New York and New Jersey.