The US Department of Justice has launched an investigation
of Trading Technologies (TT) regarding possible
anti-competitive behavior and antitrust issues, FO
Week has learned.
Two independent industry sources said that they had met with
officials from the Justice Department in recent weeks to
discuss TT's business practices. The scope of the inquiry was
not known, but one source said TT's open letter to the futures
industry (see FO Week Vol 9 No 50) last December had
been part of the focus of the inquiry.
In the letter, TT attempted to explain its plan of
extracting 2.5 cents per contract from the top four futures
exchanges in return for dropping any patent infringement
litigation against traders, customers, FCMs, ISVs or
A spokeswoman for the Justice Department told FO
Week that there was no official report or public
announcement from the government regarding an investigation of
TT. As a matter of policy, Justice Department addresses the
issue of publicly disclosing an investigation on a case by case
basis. In other words, the agency was neither confirming nor
denying an investigation regarding TT.
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