  We study the relativistic version of Schr\"odinger equation for a point
particle in 1-d with potential of the first derivative of the delta function.
The momentum cutoff regularization is used to study the bound state and
scattering states. The initial calculations show that the reciprocal of the
bare coupling constant is ultra-violet divergent, and the resultant expression
cannot be renormalized in the usual sense. Therefore a general procedure has
been developed to derive different physical properties of the system. The
procedure is used first on the non-relativistic case for the purpose of
clarification and comparisons. The results from the relativistic case show that
this system behaves exactly like the delta function potential, which means it
also shares the same features with quantum field theories, like being
asymptotically free, and in the massless limit, it undergoes dimensional
transmutation and it possesses an infrared conformal fixed point.
