ISV to pursue Refco users' screen return
Trading Technologies (TT) closed its largest patent
infringement case on 30 November when Man Group agreed to
settle the pending lawsuit with the ISV. The settlement also
ended TT's case against Refco following the acquisition of the
majority of that brokerage's business by Man (see FO
Week Vol 10 No 45).
TT, which formally brought the case against Man in April,
said the consent judgment absolves Man and its customers of any
past liability for patent infringement concerning its MD
Man followed the format of other TT settlements, validating
TT's patents and admitting it infringed on the MD Trader patent
- this time by using Patsystems' software. TT settled a patent
case against Patsystems in May.
The ISV also waived any monetary damages and planned to
continue to do business with Man in the future.
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