Chicago-based screen dealing company Trading Technologies is giving eight weeks notice of plans to disconnect services to futures commission merchant and patent target Refco.
TT says it will discontinue screen dealing for Refco end-users on 15 July. The move comes two months after TT filed suit against Refco claiming infringement of patents on its trading software. Refco clears trades on behalf of customers who interface to the markets via a number of front-end dealing systems, including TT's X_Trader.
The vendor says the eight week grace period should give Refco end users ample time to make arrangements to either stay at Refco and use non-TT software or go to another FCM and use TT software.
In addition, the firm says all TT software will be made free to Refco and to TT/Refco end users from 1 May – 15 July, 2005.
Refco is currently bidding to take control of rival ISV EasyScreen, with whom it operates the EasySolution screen dealing joint venture.