Trading Technologies International, Inc. (TT), a leading global provider of professional futures trading software and solutions, received high rankings in the second annual Eureka Index. The index, created by Ocean Tomo LLC and published in Crain’s Chicago Business, measures the quality of patents held by Chicago area companies. TT also was included in last year’s inaugural index.
According to Crain’s, TT “pulled off a rare trifecta.” Last year, TT was in the top 10 for total patent output among Illinois companies, in the top 20 for quality of patents issued, and had the highest patent output per employee.
“We are excited to be included along with other innovative companies such as Illinois Tool Works and Baxter,” said TT CEO Harris Brumfield. “We put considerable resources into our R&D efforts so that our technology will help end users meet their trading objectives.”
TT was first out of 70 local companies in per capita output, with 18 patents for every 100 employees, according to Crain's research. In 2012, TT was also a leader in raw patent output, ranking ninth with 82 patents. Mike Burns, TT Vice President of R&D, was included in a list of local residents with most patents.
Visual programming platform ADL™ (Algo Design Lab), is one of the most recent patent-pending innovations for TT. In the Crain’s article, TT CTO Rick Lane commented about the trading industry’s shift in innovation and how ADL is becoming a widely used tool to help create safer markets. “For the first time since electronic trading has existed, the innovation is not just focused around speed. Now innovation is in risk—helping people trade more safely.”