Exegy Inc., the leading provider of managed services and low-latency technology for market data normalization and distribution, today announced that it has filed a patent infringement lawsuit in the United States District Court for the Northern District of Illinois against ACTIV Financial Systems Inc. (ACTIV), a global distributor of financial market data.
The lawsuit cites unauthorized use of patented technology, which is prohibited by law, and is intended to protect Exegy’s significant investment in innovative technology, including the use of Field Programmable Gate Arrays (FPGAs) to process and distribute financial market data. Seeking monetary damages, an injunction, and destruction of all infringing products, the lawsuit asserts that ACTIV products infringe one or more claims in seventeen Exegy patents.
As a global leader in financial market data and low-latency technology, Exegy has patent rights in over 110 granted patents and over 30 pending patent applications worldwide, and other extensive intellectual property covering high-performance data processing technology. “Our expansive intellectual property portfolio is the result of patient investment of significant capital by our shareholders and relentless commitment to innovation by our research and development teams. The resulting innovations enable us to deliver invaluable products and services to our clients and many derivative benefits to the financial services industry as a whole. We are entitled to fair compensation for using our protected technologies and we intend to defend our intellectual property assets,” says James O’Donnell, chairman and chief executive officer of Exegy.
Exegy is represented in the action against ACTIV by Harness, Dickey, & Pierce, P.L.C. and Nixon Peabody, LLP.