Trading Technologies (TT) and TradeMaven Group announced a
patent settlement, the first such case in which a firm has paid
damages to TT for infringing on its MD Trader patent.
The settlement, which was completed on 27 March in Northern
Illinois district court, called for TradeMaven to pay $250,000
to TT for patent infringement based on just over 1m contracts
The suit was based on trading software created by TradeMaven
that was offered by the ISV directly, as well as software that
was made for Peregrine Financial Group (PFG). PFG acknowledged
patent infringement in a separate case with TT and settled its
patent suit in early March.
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