Trading Technologies (TT) has added Man Group and its FCM subsidiary Man Financial to its growing list of patent infringement targets by suing the London-based firm. A copy of the filing made by TT with Northern Illinois District Court obtained by FO Week appeared to show that the complaint against Man is fundamentally identical to TT's ongoing cases against Espeed and Refco.
A statement issued by Man shortly after the case was brought said, "Man Financial is confident that none of the software or trading systems we are providing to our clients - all of which are provided by third party vendors - infringe any TT patents."
A source close to Man suggested that the targeted application could be one that is no longer in use by the...