Integral Development Corp., a leading provider of FX trading solutions and services, announced today the issuance of U.S. Patent No. 8,417,622.
In the recently issued patent, Integral has received additional protection to supplement and extend its earlier patents. Patents issued reassure Integral's customers that the technology solutions and systems which they are using to conduct their business were designed in such unique ways that they warrant the legal protection afforded by the exclusivity secured by a U.S. patent. It is also a testament to Integral's technology innovation. Integral will continue to protect its intellectual property, and the rights of its customers who use its systems and technology.
"We are proud that we can offer our customers the additional peace of mind that they are building their businesses on solutions that are not only provided by — but also to a large extent — owned by Integral," said Harpal Sandhu, CEO of Integral Development Corp. "While we always knew about the power of our technology innovations, being awarded a patent is the ultimate validation for which we are very grateful."
The recently issued patent, in general, among other things, covers electronically sourcing prices from multiple locations, the aggregation and sorting of these prices, and a possible second sort by the computer to fill any remaining piece of the order (i.e. "sweeping the market") based on even more detailed user-defined preferences.
U.S. Patent 8,417,622 complements U.S. Patent 7,882,011 titled "Systems and Methods of Conducting Financial Transactions" and U.S. Patent 6,347,307 titled "System and Method for Conducting Web-based Financial Transactions in Capital Markets", which among other innovation covers the use of tag based languages (XML) in the electronic negotiation, execution and settlement of OTC financial products over the Internet.
Explained Sandhu further: "I refer to these three as fundamental patents because they address business processes that are at the core of how OTC markets do business today. In essence but not exclusively, they cover the details of the underlying computer-to-computer communication, the process of electronically aggregating liquidity in the market, and lastly the execution on said liquidity in a very efficient, user-defined way."