Magazine article Modern Trader

Static Means Static: TT off the Mark(man)

Magazine article Modern Trader

Static Means Static: TT off the Mark(man)

Article excerpt

A Markman ruling on Trading Technologies' (TT) patents as they relate to the dispute between TT and several technology and brokerage firms (including eSpeed, CQG, GL Consultants and Rosenthal Collins Group) was announced on Oct. 31 and the defendants are claiming victory.

"The litigation process is not complete, but the court clearly supported our view on the key defined term that it recognized as the seminal issue in the case, which is defining the term 'static,'" says Paul Saltzman, eSpeed's chief operations officer.

Despite Saltzman's qualification, eSpeed sent out a press release Nov. 6 claiming the ruling "removed any uncertainty regarding our products."

TT, in a release challenged eSpeed's conclusion, stating, "The court did not rule on the issue of whether eSpeed or any other defendant is infringing on the patents. TT remains very confident in its case and that the court will find that eSpeed's products infringe."

The judge noted that at the center of the fight is whether TT's patents cover automatic recentering of the static ladder. TT argued it does and the defendants, whose software automatically recenters its price display, argued it doesn't. And although the court had previously aligned itself with TT's view, in the Markman ruling it stated, "We now choose to alter our initial construction, construing common static price axis as a line comprising price levels that do not change positions unless a manual recentering command is received. …

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