Terms Distorted In Options Trading Patent Suit: Fed. Circ.

Law360, New York (May 7, 2012, 4:49 PM EDT) -- The Federal Circuit on Monday sent a patent suit between the Chicago Board Options Exchange Inc. and International Securities Exchange LLC back to district court, finding the lower court misinterpreted three terms in ISE's patent covering options trading technology.

The U.S. Court of Appeals for the Federal Circuit held that the district court erred in construing the terms "system memory means," "matching" and "automated exchange" as they relate to ISE’s patent involving a method for automated trading.

CBOE won summary judgment in March 2011, when the...
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