Saturday, April 16, 2005

Futures traders accused of software patent breach

A leading US trading software firm has filed a lawsuit against UK hedge-fund company Man Group in the row over claims that a patent awarded last year entitles it to a share of trading revenue on futures exchanges.

Chicago-based Trading Technologies (TT) was awarded two UK patents on its MD Trader product, which it claims is used for half of all global electronic futures trading.

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