We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

eSpeed, NYMEX Settle Patent Dispute Over Trading Technology

Law360 (December 23, 2003, 12:00 AM EST) -- A trading technology unit of Cantor Fitzgerald settled a dispute with the New York Mercantile Exchange (NYMEX) over a patent for automated futures trading systems.

eSpeed, which develops electronic marketplaces and trading technology, agreed to grant a license to NYMEX under which the exchange will pay the company $8 million over three years for the right to use the technology.

The licensing payments with start with a disbursement of $2 million in the fourth quarter of 2003, and $2 million payable per year thereafter until 2006....
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.