eSpeed settles CBOT/CME patent dispute
TECHNOLOGY NEWS
NEW YORK – eSpeed, a subsidiary of inter-dealer broker Cantor Fitzgerald and developer of e-trading technology, has settled a lawsuit against the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) over infringement on patented technology for electronic exchange trading. The exchanges agreed to pay eSpeed $15 million in installments over the next five years.
As part of the agreement, all companies will be released from the legal claims brought against each other
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