ISV Patsystems has agreed to settle a patent infringement lawsuit brought against it by Trading Technologies (TT).
Under the terms of the settlement, TT has issued a licence for its patented technology to Patsystems.
According to the licence, Patsystems will pay TT a variable royalty of at least ten cents per side on all contracts traded through its old trading screen, DOME. However, its work around technology, Reflector, will not incur a royalty and TT has agreed never to sue for infringement against it.
Reflector...