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United States : ICE announces acquisition of trading technology patents.

The leading global network of exchanges and clearing houses, Intercontinental Exchange, has acquired intellectual property rights that relate to computerized trading strategies. Terms of the deal were not revealed.

According to the firm s announcement, the acquired intellectual property rights include U.S. Patent Numbers 7,177,833; 7,251,629; 8,498,923; 8,478,687; 8,660,940; 8,732,048; 8,725,621 and various related pending U.S. Patent Applications.

Intercontinental Exchange Chief Strategy Officer David Goone said, We believe these intellectual property rights cover important aspects of transacting in today's markets. ICE acquired these patents with the goal of preventing third parties from using these intellectual property rights against our customers. ICE intends to make these patents available broadly for license to customers that provide beneficial liquidity in ICE's and NYSE's markets.

The intellectual property rights which were acquired comprises of patent claims that covers the use of an automated trading system to make price and trading decisions on the basis of market price information.

The intellectual property rights includes multiple asset classes traded electronically on exchanges, including futures, options and cash equities.

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Publication:Mena Report
Date:Aug 9, 2014
Words:200
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