TT settles patent case with TradeMaven, piles on penalty

Trading Technologies (TT) and TradeMaven Group announced a patent settlement, the first such case in which a firm has paid damages to TT for infringing on its MD Trader patent.

The settlement, which was completed on 27 March in Northern Illinois district court, called for TradeMaven to pay $250,000 to TT for patent infringement based on just over 1m contracts traded.

The suit was based on trading software created by TradeMaven that was...