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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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From: TFF2/14/2005 4:38:24 PM
   of 12617
 
Judge backs Trading Technologies bid on patent case
Fri Feb 11, 2005 02:41 PM ET

CHICAGO, Feb 11 (Reuters) - A Federal judge this week supported software developer Trading Technologies Inc.'s bid to stop electronic bond dealer eSpeed Inc. (ESPD.O: Quote, Profile, Research) from using computer trading programs that TT says infringes on patents, but he stopped short of issuing an injunction.
Senior Judge James Moran declined to issue a preliminary injunction against eSpeed only because TT could not show evidence of "irreparable harm" at this point.

However, if eSpeed takes on Trading Technologies in the marketplace the court "will have to reconsider its present belief that there has not been a sufficient showing of irreparable harm," Moran said in the Feb. 9 ruling, which was obtained by Reuters on Friday.

Moran rejected eSpeed's arguments that two patents obtained by Trading Technologies in 2004 were invalid because the invention -- a software program for futures trading -- was obvious and was used by TT for more than a year before its patent applications.

The ruling could embolden Trading Technologies in its bid to broker a deal with major futures exchanges in which the company would grant nonexclusive licenses to use its trading systems.

TT has asked the world's four biggest futures marts to pay it 2.5 cents per side for every futures transaction.

In return, TT said it would forfeit the right to bring patent infringement suits against the exchanges and other industry participants such as traders and futures commission merchants.

ESpeed is a unit of financial services provider Cantor Fitzgerald L.P.
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