Prospect of European lawsuits, exchange fee demands
Trading Technologies was last week granted UK patents on its
MD Trader software, raising the prospect that the ISV could
launch further lawsuits against firms it believes are
infringing the patents, and extend its attempts to secure
payments from exchanges.
TT apparently remains confident of being able to persuade
exchanges to pay it a per-contract fee of 2.5 cents, despite
other sources indicating that Chicago Board of Trade (CBoT) and
Chicago Mercantile Exchange (CME) had rebuffed the approach
(see FO Week Vol 9 No 44).
A source close to TT described talks with CBoT and CME as
"substantive", and told FO Week, "We're hopeful that when
everyone understands the unfairness of the current ISV business
model and the fact that it puts customers on shaky ground, an
agreement with the exchanges will be reached."
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