International Financial Systems (IFS), the Dublin-based developer of collateralised trading and internet solutions for financial institutions, has appointed a receiver after it was unable to meets its debts. It is understood the receiver, Farrell Grant Sparks, will seek either a trade sale of the firm as a going concern or will work towards raising fresh funding. But a funding round by IFS earlier this year was not completed due to the poor global climate for tech stocks. The firm had been attempting to raise $10 million in funding. IFS dropped plans for a Nasdaq flotation earlier this year, saying it would seek a listing on the Alternative Investment Market.