When the news broke in August 2004 that TT had been awarded
two patents covering the method of "displaying market depth on
a vertical or horizontal plane" there was widespread
consternation and condemnation, especially after the ISV sued,
in the first instance, E-Speed for infringement.
The 'mercury bar' display of market volume at depth on
trading screens had become an industry standard and many
claimed that TT was doing no more than exploiting US Patent
Office's unfamiliarity with futures markets to extract cash
from its peers. As one ISV executive told FO Week at
the time, "What are we supposed to use, a fucking circle?"
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