The lawsuit was resolved today with the entry of a Consent Judgment finding infringement and that the patents are valid. Under the settlement agreement, FFastFill admitted that the Crossfire product formerly offered by Future Dynamics infringed on TT’s patents and agreed that the patents are valid. FFastFill has agreed to not infringe TT’s MD Trader patents in the future. TT has agreed not to sue FFastFill and FFastFill’s customers for infringement of the MD Trader patents based on FFastFill’s new QuickTrade product. As part of the settlement, TT has absolved FFastFill and FFastFill’s customers of any past liability for infringement of TT’s MD Trader patents.
“We are happy to resolve this matter and put any patent issues we have with TT behind us. FFastFill respects TT’s static order entry ladder patents and has no intention of violating TT’s patents. Going forward, FFastFill’s customers can use our new QuickTrade product without any concerns regarding TT’s static order entry ladder patents,” said Keith Todd, Executive Chairman and CEO of FFastFill.
“Our settlement with FFastFill is further evidence of the strength of our MD Trader patents,” said Harris Brumfield, CEO of TT.
About Trading Technologies
Trading Technologies (www.tradingtechnologies.com) develops high-performance trading software for derivatives professionals, including the world’s premier exchanges, money-center banks, proprietary traders, securities brokers, Futures Commission Merchants (FCMs), hedge funds and other trading institutions. The company’s software and services provide direct access to the world’s major derivatives exchanges. Headquartered in Chicago, Trading Technologies maintains a worldwide presence with offices in New York, London, Frankfurt, Sydney and Tokyo* (*opening Summer 2005). In 2004, Trading Technologies was named the best technology company to work for in Chicago by Chicago magazine and ranked third among all Chicago area employers.
About FfastFill
FFastFill is the leading provider of application services to the global derivatives community. FFastFill’s services and solutions use the latest developments in technology to automate trade flow processes across a firm’s front, middle and back offices. FFastFill’s solutions encompass electronic order routing, clearing, risk management and back office reporting as part of an integrated, yet modular system architecture. FFastFill’s application services provide institutions with cost savings in their administrative and IT departments and significantly reduce or eliminate the investment costs associated with maintaining their own technology infrastructure. All of FFastFill’s services are delivered against a contracted Service Level Agreement (SLA), which can be tailored to an institution’s business requirements. This quality of delivered service has been enabled through the deployment of a uniquely engineered and totally managed software and technology infrastructure.
