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`DECLARATION OF DOllG MONIESON
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`I, Doug M(,Jilieson. declare that:
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`I am persona.ll:y fa.milill1' with tbe facta set fonh herein, ar1d, .if caUed as a witness.
`1.
`I could and would testify thereto of my own pert;Qnal knowledge.
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`Grow1ng up, I worked as a runner in th~ ~ummcu ntl the Chlco.go Mercantile
`2.
`Ex~hange ("CME") and the Chicago Board of Trade (' 1CBOT"). l received a Bachelnr.s
`degrt.e In Economics from rhe University nf Mlr:higan in 1987 and an MBA degree frtlm
`rho Univcraity of Chicago in 1989.
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`Upon graduation from busin~s school~ I moved to New York to work for a bank
`3.
`trading foreign exchange from 1989 to mid 1990. Thi5 tradl.ng wa~ conduc~d party-to·
`pa.rty u1ing the Reuter8 dealing syste1n 11nd a phone. In mid 1990, I went to work for
`Commodity Corporation, a money management firn1 in Princeton, New Jeue~y. There, I
`was in the associ1te tradi~ program tradini commodities and futu.tes.
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`In 1992, J moved back to Chicago and began trading off the t1oor on the CME. the
`4.
`CBOT and NYMEX. In 1996, 1 b~gan trading the Nasdaq 100 fut.ures on the floor of the
`CME. ln 1999, 1 backed :!levcral trAders to trade electronically on the CME ualng
`'oftware provided by GL. I watched what these Individual~ were doing and bec:ame
`f~tmiliar with the uading softwflre.
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`ln 2000, I started tmdins elettronlcally myself after hours using the GL software,
`5.
`I w&., also aware of software avaUable from F'atsystetns. The OL softwiU'e displayed a
`best bid and best orfer box. When the market moved, the prices in these bmte~t changed.
`If a trader ll."ied to hit the bid or ltft the offer, there wns C\ risk of tl1e order going in at 1\11
`unintend~ price if the price in one of those boxes changed while t.he trader was in the
`process of taking m actioa.
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`I finJt aaw Tmding Technologies' (''TT") software around the end of2000/ea:rly
`6.
`2001. I immedJately ~:aw that TT's MD 1'cad~r u·ading too.l was much better than the
`trading tools available ftt the tirne. MD Tntder provided for 3irnple order entr~ by
`allowing a trader to click in cella aligned with fixed price.!! to send o.rders with preset
`order q"antitles. Thls allowed a trader to enter orderl'l as fast •1!1 poA&ible while
`eliminating tho rhk of orden going in at unintended price!l. Also, MD Trader provided a
`more intultive tradins system in which movemcn~ in the market ooul'd be seen visually
`bocause th~ ma.rket datR moved up and down relative oo the fix.ed pricQ&, In the tradin~
`screena llVailabJe at the time, a trader h.ad to read number~:~ Md rn~ntally calculate
`differences in those numbers to recognize movements 1111d the extent of movements In the
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`TRADING TECH EXHIBIT 2037
`TD Ameritrade v. Trading Technologies
`CBM2014-00136
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`Page 1 of 2
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`market. MD Trader also had a one cl.ic.k recentering feature tllttt Ill lowed a trader to
`quickly tHing the mat.ket int(J view and. set 1\ point of reference.
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`MD Trader was radically diffetent than the typea of trading tools that were
`7.
`nvai lab1t~ at the tirne. I had never seen tt.ll}' of the features described above before I saw
`them in MD Trader. Decau!e .. of these differences, MD 1'rader is ra far superior u·uding
`toul.. The main rcastJJl. for thi5 iu that the ilnpro\l~d vlmatization 3nd. the improved order
`cmtT')· improve the ~p~.od at which a trader con te~ognlze. opportunJtie!ol and trade. In
`electronic trading, even fractions of a second at'e in1portan~. The Improved visualization
`is esped&Jiy hcoJpful when a trader is loo'king at ~everal products next to each. other
`becau!'le. the tmder <:an cente~r the multiple window~ lo se£ a polm of .refcrenr.e and
`im1nediately notico relative dlffere11cee in the movements of tho.sl.'. pmduct& at ju.st 11
`elaoce. M() 1'roder made It eas.ier for traden to be active. participaut~; in the market and it
`incretued theo number of ordl!lrs being sent by ttadt:r6.
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`11\m uware t:1at after TT'~ releue of l\ID Trader, rnlll'ly compmies bavc rrJeased
`8.
`similar products with the featUrc5 dhcu'iosed above. For r:;11ample, l have used product!!
`m/l.de by Po.tsynems 11nd RercoPro Ea~yscreen that have th~se fe11tures. In 2001,
`Pat,;ystem~ cnme r~) my office af!d 11h.owed rnc a new screen they were selling called
`11Domc.'' that lOQked identical to MD TrRdr.t. Tho repR'Iscntative from P11.tsyatcma
`emph3iized that the Dome product had the 11a.me functionnlity as IT's M_O Trnder 11nd
`was cheaper.
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`M}• office i~ located ~:~t 30 S, Wecker Drive, Chic1tgo, ntinois. Si.nce 2001, J h~.ve
`9.
`had 5-7 trnder! working for roo.
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`I declll.l'c unde.r penaltY of perjury that the foregoing ifi true ancl correct. Executed on
`Cf" ....
`August ···--• 2004.
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`a
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`D1~ug~~on
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`Page 2 of 2
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