eSpeed Can't Prove Patent Infringement In Closely Watched Electronic Trading Suit

Law360, New York (February 7, 2005, 12:00 AM EST) -- In a surprising court-room twist, Cantor Fitzgerald's electronic interdealer broker eSpeed has conceded that it can’t prove that rival ICAP's BrokerTec infringed on a patent that protects its fixed income trading system.

eSpeed, the electronic trading arm of Cantor Fitzgerald LP, made the concession in U.S. District Court for the District of Delaware this week, based on U.S. District Judge Kent Jordan's interpretation of the patent, which he submitted last year.

As a result, BrokerTec appears to have escaped the infringement charges, while eSpeed will go...
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