Man Group
plc
, a leading futures broker based in the
UK
, has been sued by a trading software firm alleging
infringement of
US
patents that cover software which
allows traders to react immediately to changes in the market.
Chicago-based Trading Technologies has sued trading firms
before, alleging patent infringement. Four months ago, it issued an
open letter to the futures industry, claiming that it is entitled
to a fee of 2.5 cents per trade on each of the "big four" futures
exchanges, namely Eurex
US
, Euronext.liffe, the
Chicago Board of Trade, and the Chicago Mercantile Exchange.
Man Group
plc
operates in 15 countries, including
the
US
. A spokesman told ZDNet
UK
that
the company is confident that it is not infringing patents owned by
Trading Technologies.
