ARTICLE · 09 MARCH 2017

Electronic Trading Claims Are Patent Eligible

McDermott Will & Emery

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Trading Technologies charged CQG with infringement of patents directed to the electronic trading of stocks, bonds, futures, options and similar products.

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The US Court of Appeals for the Federal Circuit affirmed a district court’s holding that claims directed to electronic trading are patent eligible. Trading Tech. Int’l, Inc. v. CQG, Inc., Case No. 16-1616 (Fed. Cir., Jan. 18, 2017) (Newman, J.) (non-precedential).

Trading Technologies charged CQG with infringement of patents directed to the electronic trading of stocks, bonds, futures, options and similar products. The patents describe a trading system in which a graphical user interface displays the market depth of a traded commodity. CQG moved for judgment as a matter of law, asserting that the claims of the patents were directed to patent-ineligible subject matter under 35 USC § 101. The district court denied CQG’s motion after finding that the claims were not directed to an abstract idea and that they recited an inventive concept. CQG appealed.

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