Penson selects $10.5 million winning bid for assets, cancels auction

By Caroline Salls

Pittsburgh, March 21 - Penson Worldwide, Inc. named stalking horse bidder Fédération des Caisses Desjardins du Québec as the successful bidder for the direct access trading technology and online brokerage assets of Penson and Nexa Technologies, Inc., according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the stalking horse bidder has agreed to pay $10.5 million for the assets.

The company said it received no qualified competing bids by the 4 p.m. ET March 20 bid deadline. As a result, the March 22 auction has been cancelled.

The sale hearing is scheduled for Tuesday.

Dallas-based Penson Worldwide provides securities execution, clearing, custody, settlement and technology infrastructure products and services to financial services firms. The company filed for bankruptcy on Jan. 10 under Chapter 11 case number 13-10061.

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