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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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From: TFF11/6/2006 11:30:56 AM
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Court Sides with eSpeed in Trading Technologies Patent Case
Monday November 6, 11:18 am ET

NEW YORK--(BUSINESS WIRE)--As a result of a Court decision that has important implications for global futures markets, eSpeed, Inc. (NASDAQ:ESPD - News) is now able to provide customers with even greater flexibility and a variety of user interfaces to conduct futures transactions.



A U.S. District Court squarely rejected Trading Technologies International's attempt to constrict eSpeed's and ECCO's futures product offerings by claiming patent infringement. It has been eSpeed's consistent view that its futures products were not covered by those patents, and in an October 31 claims construction decision, the U.S. District Court for the Northern District of Illinois supported eSpeed's position.

Howard W. Lutnick, Chairman and CEO of eSpeed, said, "In a clear victory for the marketplace, the Court's decision supports our long-standing position that our eSpeed and ECCO products did not infringe on Trading Technologies' patents. We continue to be focused on providing customers with a suite of innovative futures products to trade efficiently and effectively. With this matter now materially behind us, our futures business is in a stronger position to satisfy customers' needs as we continue to improve our competitive position in the marketplace."

"The Court's interpretation of the scope of Trading Technologies' patent claims in our favor has removed the uncertainty regarding our products," said Paul Saltzman, Chief Operating Officer of eSpeed. "eSpeed and ECCO are now better positioned to offer our customers a broader range of user interfaces to facilitate fast and easy futures execution capabilities in line with customers' preferences for trading futures."

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