Futures Markets Face Trading Patent Claims

Posted by timothy on Wednesday December 15, 2004 @04:13AM from the cover-charge-for-ideas dept.

Jack.Gavigan writes "Trading Technologies, who own patents which they claim cover various electronic trading systems, have published an open letter to the futures industry, asking that the top futures and options exchanges (Eurex, LIFFE, CME and CBoT) pay 2.5c for each trade transacted on their electronic platforms. This is going to be interesting - we're not talking about a couple of online bookstores here. Billions are traded every day in the global futures markets." Update: 12/15 19:18 GMT by T : As reader Bryan Sloane points out, the original headline incorrectly said "Options" rather than "Futures," as it should have and now does.

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This is what is needed... by DHalcyon · 2004-12-15 04:19 · Score: 4, Insightful

...to kill software patents, suing guys with lots of dollars and lawyers for patent infringment.
You missed a point... by McLae · 2004-12-15 07:22 · Score: 2, Insightful

Not 2.5 cents per trade, 2.5 cents per side. Two sides, total $0.05 per trade. And they sound so reasonable; this is the lowest offer they can accept. Lots of sparks when this hits the fan!