TT files patent suit against eSpeed; others likely to follow

TT files patent suit against eSpeed; others likely to follow

A patent infringement lawsuit filed last week by Trading Technologies against automated fixed income network eSpeed may soon be extended to other ISVs and traders operating in the market.

The patents, issued in July and August, relate to TT's MD Trader software for displaying multiple prices on a screen so that users can judge the depth of a market. TT first brought the technology to market for futures dealers in 2000.

While TT has chosen to initiate legal action against eSpeed, similar onscreen functionality is available from rival vendors, including Orc Software, EasyScreen and Patsystems.

Harris Brumfield, TT’s CEO comments: "MD Trader is an important invention that I developed along with TT. I believe that MD Trader and other TT innovations have added tremendous volume to the futures industry, and will eventually offer tremendous value to all asset classes, and we intend to protect our intellectual property."

ESpeed itself has already raked in huge sums from pursuing its own patent infringement claims against rival futures exchanges.

While offering no comment on future patent enforcement actions, Brumfield notes: "MD Trader is far more valuable than the license fees that TT has been charging for its software...anyone who makes, sells, or uses the patented invention is an infringer and is liable for damages dating back to the issuance of the patent."

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