GSTPA Technology Assets to Be Auctioned Off Next Month

The technology assets of the failed GSTPA post-trade processing consortium are to be auctioned by liquidators in Switzerland on September 10. The auction will be handled by Buergi & Naegeli, and interested parties are invited to contact the firm’s Zurich offices. Developers of centralized trade processing utilities, including Financial Models Co., Omgeo and SunGard have been linked with possible interest in the assets. Disposal of the assets has been hampered by wranglings over intellectual property rights and collating the actual software.