On the games played by Trading Technologies

NIP247 · Post by **NIP247** » Wed Dec 07, 2005 3:57 pm

That's pure generosity! Thanks FDAX!

I puke every time I view the TT homepage and their endless list of "settlements"!

hammerbacher · Post by **hammerbacher** » Mon Dec 12, 2005 6:38 pm

i'm a fairly strong believer in the freedom of information and open source crap, so this thread really got my blood boiling. for those who don't know much about IP in finance (such as, well, myself), it looks like the US patent office didn't consider financial innovations patentable, with a few exceptions, until very recently. in the 1998 case of State Street Bank v. Signature Financial, the Federal Circuit Court of Appeals upheld Signature's patent on their Hub-and-Spokes asset management system. More info is in [url=/User%20Files/816/Patent%20Law%20and%20Financial%20Engineering.zip]Attached File: Patent Law and Financial Engineering.zip[/url]. Another article that considers the ramifications of this case is here. And if you wanna browse current applications for US patents, check here (try doing a "quick search" for "trading technologies" in the "published applications" section).

edit: another interesting article from the lemonade stand: here.

NIP247 · Post by **NIP247** » Mon Dec 12, 2005 9:01 pm

...and then we have the famous Lavatrading patent for their s.c. "colorbook"...

[i][b]Lava ColorBook[/b]®[/i] [i](U.S. Patent Number 6,278,982)[/i] [i][/i]

[i]The ColorBook system integrates the full depth of order books from ECNs, exchanges and other liquidity sources into a premium, high-performance, real-time data feed. ColorBook's patented technology provides a single execution interface to access all available market data and transmit orders to all liquidity sources.[/i]

Sounds very much like a consolidated orderbook to me, but what do I know?

Johnny · Post by **Johnny** » Fri Mar 16, 2007 11:51 am

What happened to this story? Anyone care to give an update please?

FDAXHunter · Post by **FDAXHunter** » Fri Mar 16, 2007 12:04 pm

There was a court case in November 2006 where some of TT patent claims were rejected in their suit against eSpeed.

Now there's a trial pending to judge the overall validity of the patent. I've been saying for years that there's plenty of prior art.... but nobody would listen, strangely enough.

Anyway, I'm willing to bet that 'Mercury' is going to be collected by the EPA (Environmental Protection Agency).

Johnny · Post by **Johnny** » Fri Mar 16, 2007 2:01 pm

Thanks.