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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.