Two firms last week launched trading software they claim
will help customers avoid patent suits from litigious ISV
Trading Technologies (TT).
London-based ISV Patsystems and Chicago broker Peregrine
Financial Group separately launched trading systems that
represent depth of market on an active ladder display. Both
firms said their products do not infringe TT's patents on its
static ladder-based MD Trader. Active ladder displays were the
norm prior to the introduction of MD Trader in 2000, with
Patsystems among the firms to offer it.
The moves come amid mounting concern over TT's ongoing
campaign of patent litigation, which has seen suits against two
of its customers settled, with a suit against Espeed still
being contested (see p2).
Patsystems ceo Kevin Ashby said he believed the introduction
of his firm's Reflector product would "put our customers and
others in the industry at ease". Patsystems has not been sued
directly, but has been named in at least one of the other
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.