`
`I, Steve Gancer, declare that:
`
`I am personally familiar with the facts set forth herein, and, if called as a witness,
`1.
`I could and would testify thereto of my own personal knowledge.
`
`I started trading professionally in 1994 on a desk at the Chicago Board of Trade
`2.
`("CBOT"). I have been trading electronically since at least 1998. I started trading
`electronically on the London International Financial Futures and Options Exchange
`("LIPPE") and Eurex. When I first started, I was using software provided by a company
`called Easyscreen. This software displayed the best bid price and the best ask price in
`designated locations on the screen. When a trader would attempt to hit the bid or lift the
`offer using this screen, by the time the action of clicking the mouse was complete it was
`possible for the price to have changed. When this occurred, the order would go in at a
`different price than the trader intended. This was like trying to hit a moving target.
`
`I used the Easyscreen software for around six months. I then tried to trade
`3.
`electronically on Project A (the CBOT's first attempt at electronic trading). This
`platform suffered from the same problem described above. I was not successful using
`either platform to trade electronically, so I quit and continued trading over the phone.
`
`Then, in around the fall of2000, I saw Trading Technologies' ("TT") MD Trader
`4.
`product at Transmarket, a proprietary trading firm. When I saw MD Trader, I thought it
`was great. It was completely different than the trading interfaces I was aware of. For
`example, it allowed the trader to enter orders with one click and with no risk of the order
`going in at an unintended price. This was so because the trader entered an order by
`clicking in a cell aligned with a fixed price level. MD Trader also allowed a trader to
`easily see movements in the market by displaying the market information relative to a
`fixed range of prices. In addition, MD Trader allowed the trader to easily move the
`market information to the center of the trading window in response to a one-click
`command. This allowed a trader to put two products side-by-side and center the two
`products to establish an initial point of reference about which to see relative movement
`between the two products. I had never seen any of these features in a preexisting trading
`platform.
`
`I started using TT's MD Trader shortly thereafter. MD Trader proved to be a
`5.
`major advance from the preexisting screens because it allowed me become successful in
`electronic trading. MD Trader provided this advance because the features discussed
`above improved the speed of my trading. The improved order entry allowed me to trade
`with confidence and with much fewer errors than the preexisting systems. Also, by
`visually showing market movements, MD Trader offloaded mental calculations that were
`
`1
`
`TRADING TECH EXHIBIT 2023
`TD Ameritrade v. Trading Technologies
`CBM2014-00136
`
`Page 1 of 2
`
`
`
`required by the preexisting systems. This is invaluable when a trader is spreading in fast
`markets because it allows the trader to recognize opportunities much faster. I have not
`used a different trading platform to trade electronically since I started using MD Trader in
`2000.
`
`6.
`
`I currently work at 141 W. Jackson, Chicago, Illinois.
`
`I declare under penalty of perjury that the foregoing is true and correct. Executed on
`August 3
`, 2004.
`
`2
`
`Page 2 of 2
`
`
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