eSpeed files patent suit

The suit also names Swedish technology firm OM as a defendant as its technology underlies BrokerTec. eSpeed is seeking an injunction against Icap to stop operating BrokerTec while the lawsuit is pending, and a jury trial to recoup lost profits incurred by BrokerTec’s alleged infringement, plus three times damages, legal fees and interest.

The patent was filed in 1996, was filed in 1999 and approved on May 6.

The patent of the eSpeed system architecture, which mimics the auction process