Decision On GSTPA's TFM Delayed Until Mid-December

NEW YORK--The postponement of the Global Straight Through Processing Association's (GSTPA) decision on who wins the right to build the GSTPA's Transaction Flow Manager (TFM) may influence what eventually surfaces as a TFM used for post-trade processing in the cross-border securities industry.

The Depository Trust Co.'s (DTC) Bill Hodash told IMT at the Bond Market Association conference in New York late month that while the deadline for the [remaining] bidders to submit additional material he