Trading Technologies Sues eSpeed Over Bond Trading Technology

By Marius Meland (August 15, 2004, 12:00 AM EDT) -- Patent litigation is on the rise in the lucrative market for bond trading technology, with several players suing each other as they jostle for control over the electronic systems that support the $3.3 trillion bond market.

Last week, Chicago-based software group Trading Technologies entered the fray with a lawsuit against eSpeed, the electronic bond trading unit of Cantor Fitzgerald. eSpeed is already involved in litigation with a rival over trading-technology patents.

Trading Technologies' lawsuit, filed in the U.S. District Court for the Northern District of Illinois, alleges infringement by eSpeed of two patents relating to software developed by Trading Technologies....

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