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ESpeed Loses Appeal Over Bond-Trading Patent

Law360 (March 20, 2007, 12:00 AM EDT) -- A drawn-out battle by Wall Street brokerage Cantor Fitzgerald to protect a patent on its electronic bond-trading system has ended in defeat, with an appeal’s court this week ruling the patent unenforceable.

In a decision Tuesday, the U.S. Court of Appeals for the Federal Circuit (CAFC) affirmed the finding of a Delaware district judge that the so-called ‘580 patent was invalid because inventors of the technology deceived the U.S. Patent and Trademark Office (PTO).

Cantor and its eSpeed Inc. electronic trading unit, which had sued ICAP...
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