Number of Trading Technologies’ patent ruling appeals may grow even further

Maria Nikolova

Six appeals in less than four months are apparently not sufficient for Trading Technologies, as the company asks the Court to de-consolidate cases.

Trading Technologies has been actively contesting decisions made by the Patent Trial and Appeal Board (PTAB), with six appeals filed in less than four months against such decisions. Although the number of actions undertaken by the company is already impressive, it may grow even further, as Trading Technologies has asked the Federal Circuit U.S. Court of Appeals to de-consolidate two of the cases. If the Court sides with the company, the case in question will be split in two, resulting in more patent appeals.

As per the latest court filings in the case, captioned Trading Technologies Intl. v. IBG LLC (0:17-bcaag-02621), appellant Trading Technologies International, Inc. moves the Court to have appeal No. 18-1063 de-designated as a companion case to this appeal. According to the company, it appears that the two appeals may have been deemed companion cases inadvertently, as the two appeals stem from two different Covered Business Method CBM Review proceedings involving two separate patents from two different patent families.

Specifically, Case No. 17-2621 is an appeal from CBM2016-00051, which involved TT’s U.S. Patent No. 7,904,374 (“the ’374 patent”) and is a member of the Brumfield family. Case No. 18-1063 is an appeal from CBM2016-00032, which involved TT’s U.S. Patent No. 7,212,999 (“the ’999 patent”), and is a member of the Friesen family.

De-consolidation is not a popular measure for the Federal Circuit U.S. Court of Appeals. Moreover, the Appellees, including IBG LLC, Interactive Brokers LLC, TradeStation Group, Inc. and TradeStation Securities, Inc., have indicated that they object to this motion. Let’s note that the above-mentioned brokers are appellees in the other patent appeal cases recently launched by Trading Technologies.

Last month, IBG LLC and Interactive Brokers LLC said they do not believe that mediation would be fruitful at this time. TradeStation Group, Inc.and TradeStation Securities, Inc. also declared that the case is not amenable to mediation, as the parties strongly disagree about the merits of the case and are unlikely to reach agreement.

The patents in question refer to a graphical user interface for traders. Patent ‘999, for example, describes a GUI for an electronic trading system that allows a remote trader to view trends for an item, which assists the trader to anticipate demand for an item. For instance, the method comprises displaying a plurality of bid indicators, each corresponding to at least one bid for a quantity of the item, each bid indicator at a location along a first scaled axis of prices corresponding to a price associated with the at least one bid.

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”

<