29 July 2015

ICE buys trading technology patents

07 August 2014  |  1628 views  |  0 Source: Intercontinental Exchange

Intercontinental Exchange (ICE), the leading global network of exchanges and clearing houses, announced today that it has acquired intellectual property rights that relate to computerized trading strategies.

The acquired intellectual property rights include U.S. Patent Numbers 7,177,833; 7,251,629; 8,498,923; 8,478,687; 8,660,940; 8,732,048; 8,725,621 and various related pending U.S. Patent Applications. Terms of the transaction were not disclosed.

"We believe these intellectual property rights cover important aspects of transacting in today's markets," said Intercontinental Exchange Chief Strategy Officer David Goone. "ICE acquired these patents with the goal of preventing third parties from using these intellectual property rights against our customers. ICE intends to make these patents available broadly for license to customers that provide beneficial liquidity in ICE's and NYSE's markets."

The acquired intellectual property rights include patent claims covering the use of an automated trading system to make price and trading decisions based on market price information. The intellectual property rights cover multiple asset classes traded electronically on exchanges, including futures, options and cash equities. 

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