Futures Exchanges Face Patent Threat

Law360, New York (October 30, 2004, 12:00 AM EDT) -- Software vendor Trading Technologies has rattled the futures markets with its claim of patent rights to a system for reducing the time it takes to trade electronically, seeking a license that would levy a fee on every transaction.

The vendor has proposed a fee to the Chicago Board of Trade and Chicago Mercantile Exchange of about two cents per traded contract, the Financial Times reported.

The move has “sent a chill through the futures industry, which is experiencing record volumes amid continued commodity, interest rate and...
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