TRADING TECH EXHIBIT 2019
`TD Ameritrade v. Trading Technologies
`CBM2014-00133
`
`Page 1 of 2
`
`

`

`the standard order entry screens that were prevalent at the time — screens that displayed
`the market information in a normal order book fashion.
`
`I started using TT’s MD Trader right around the time that TT launched it as a
`8.
`product. Once I started using the product, I knew that this was a great idea. The product
`proved to be a huge improvement over the trading tools that existed at the time. The
`static nature of the prices allowed the trader to see the movements in the market depth
`much easier through a more intuitive screen. This allowed a trader to recognize
`opportunities much quicker. Also, MD Trader provided for the ability to quickly enter
`orders at various price levels without the possibility of error because there was no risk of
`the prices changing while the trader was attempting to enter an order with the mouse.
`The one-click recentering feature of MD Trader was also very valuable because it
`allowed the trader to quickly bring the display of the market to the center of the screen. I
`had never seen any of these features in preexisting electronic trading tools.
`
`Because of the more intuitive trading screen and the improved fast and reliable
`9.
`order entry and management, the MD Trader screen allows for traders to react much
`more quickly to fast changing market conditions than the preexisting systems. Speed is a
`critical issue for electronic traders. Anything that allows a trader to decrease the time it
`takes to recognize an opportunity and send an order to the exchange is invaluable. One
`of the most impressive things about MD Trader is the fact that prior to its release traders
`did not even perceive a problem with the old tools they were using. It was not until
`seeing the benefits of MD Trader, did they realized the shortcomings of the old order
`book type screens.
`
`After TT launched MD Trader, many competitors of TT released screens that
`10.
`duplicated the static price, the improved order entry and the recentering features of MD
`Trader. In fact, most independent software vendors (“ISVs”) have come out with a copy
`of the MD Trader screen. These competitors needed to do this because potential
`customers, such as myself, told them that TT’s MD Trader screen was far superior from
`their traditional order book type screens. In fact, I told representatives from competitors
`of TT, including Patsystems and Eccoware, that they should not even bother trying to
`pitch me their systems until they put a screen like MD Trader into their product.
`
`At the time of the MD Trader launch, I recall being surprised that Harris
`11.
`Brumfield permitted TT to launch MD Trader as a product as opposed to keeping the
`technology for himself.
`I believe that it is likely that if Harris Brumfield had not decided
`to permit TT to put MD Trader out there, we would still be using traditional order book
`type screens today as the standard way of doing order entry.
`
`I declare under penalty of perjury that the foregoing is true and correct. Executed on July
`Z Z , 2004.
`
`Ray a man
`
`Page 2 of 2
`
`2
`
`Page 2 of 2
`
`