TT settles two more patent claims

TT settles two more patent claims

Chicago-based Trading Technologies (TT) says it has settled patent infringement lawsuits filed against futures and options software vendor, Rolfe & Nolan, and London-based dealing systems firm, Strategy Runner.

In a statement, TT says the suit against Rolfe & Nolan was resolved with the entry of a consent judgment finding infringement of its MD Trader technology by a prior version of Rolfe & Nolan's enhanced trading application, part of the RANorder Edge package.

In a separate statement, TT says the suit against Strategy Runner will be dismissed "once the court approves a consent judgement". No further details were disclosed.

TT said last week it had settle suits against UK-based FfastFill and Germany's Realtime Systems Group, having earlier secured settlement and loyalty agreements with ISVs and broker-dealers including NinjaTrader, Patsystems, Advantage Futures, Kingstree Trading and Goldenberg Hehmeyer.

But the vendor still has several suits pending with larger companies, including futures broker Refco, UK hedge fund manager Man Group and bond trading network eSpeed.

Last month TT also filed new patent infringement lawsuits against rival ISVs GL Trade and Nyfix and futures dealer Peregrine Financial.

However, Chicago-based Rosenthal Collins Group (RCG) is reported to be counter-suing TT for "misuse of patents". According to press reports, RCG has asked a judge to declare that it did not infringe either of TT's MD Trader patents and that the patents are unenforceable because of TT's conduct relating to them.

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