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`DECLARATION OF PETER MORJCZ
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`~ Peter Moric:t. declare that
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`Jam personally familiar with the facts set forth herein, and, if Called
`C oould and would tealify thereto of'my own personal kDowled&c.
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`I star1ed my career in the financial induatty aa o runner on theifloor fthe Chicago
`~·
`Board ofTrade (''CBO'r') in 1994. J started tnding electronically~ Pro"
`tBOT's f~r.~t electronic trading platfurm. in )997. In late 1998/early)999, moved to
`~.ondon and began tndin& eleetronic:alJy using the Ewex front-end/ in the 999/2000
`1time frame. I also used software o~ICd by Trading Technologies ('fTT") t trade. In
`!parlicular, I used IT's Market Grid screen. In around the fall of 2000, I
`!trading tool being offered by TT called Ml> Trader. After I saw a ~o
`)lice.used TI' s software and bave been using MD Trader ever since.! I c:urr
`! London, England.
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`MD Trader was much different th11n the trading iippticatio~ ~v ·
`13.
`! MD Trader displayed the market data relative to a static price colwhn so t
`t the market
`I data would visually move up 1111d down the ~- This was very ciiffercn than the
` preexisting systems in whi~ the: bid and ask prie<:$ would move o~·the
`, requiring
`a trader to read m110bets and calcul&te differences ~ ruunbc~:to i
`a change
`nation in
`: in the market. Also. MD Trader had very fast lllld simple order en*Y and
`c:u1ar price in
`the l~Aatic price column such that the trader ~uld be confident that~ ord w•~ being
`sent in at the intended price. Similarly, MD Trader allowed the ~r to
`eel a
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`I wbic.h an order could be sent via one click at a location aligned wi. a
`I particular otder by cticking on an icon repreKnting that order whi$h was isplayed
`aliancd with a particular price. This was far differem than the pr~isting systems thAt
`, n."quired multiple steps to enter order.rl in a way that the trader c:o~ be
`fident in tbe
`I price. In these preexisting systmns, iftbe trader tried to enter an oWer wi one click. be
`! risked lhe order aoi.ng in at an uniot~nded price if the price on the ~creeo banged just as
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`1 the trader c:Jic:ked.
`&cause of the differences described above, MD Trader wk a
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`, product for profcssioJJal active traders. MD T racier was far simpltli and
`what was previously available. The diffem~t display made it casY'f'or
`; flow of the market by freeing the mind of the: trader to focus on ~ing
`! doing mental calcul.-ions of numbers. The approach to order en\ij' mad it simpler and
` faster to enter orders and to cancel particular orders with oonfi~. In ummary, Mn
`Trader provided ll Jwge benefit ttl th~ active trader in terms of siJ#Iic:ity
`speed.
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`TRADING TECH EXHIBIT 2039
`TD Ameritrade v. Trading Technologies
`CBM2014-00133
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`Page 1 of 2
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`anquvpmmowfi'n
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`MD Tradcr dogs 50118: from an: problem as compared to that mix)system
`SE
`InEa fist W1, because MD Trade: keeps the range ofmm being 6531:!”v ataxia the
`data can easily disappear fiwom the: screw W18 MD Trader?Que
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`ramming {ham:5 normaily a good 1'ch that allows the irada to mick! bring the
`market Wk1:: View, it does not mark wellIn a fast market where the Enarkct 3 very
`vaEiafiiz due to an extraordinary mt
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`Somuadersdidnm sm‘tcbfi'omthc olderstyic scream roMfiT n a because
`they were so used to those skier style screens and MD Trader was so misc?! di area!
`EEen today, I am aware ufwaders who still use the aide: style screensE:
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`Peter ads:
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`Page 2 of 2
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`Page 2 of 2
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