DECLAKA TION OF MARK ORYHON
`
`I. Mark Oryhon, 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 began trading professionally in late 1998/early 1999 at the Chicago Mercantile
`2.
`Exchange ("CME"). When I first started, I was trading electronically using the GL Win
`tenninal and software sold by Patsystems. Both of these platforms provided a Level II
`type display where the bids and offers were displayed side by side with the top row
`containing the best bid and the best offer. In these systems, if a trader clicked on a price
`to enter an order, he ran the risk of the order being sent in at a different price if the price
`displayed on the screen changed at the moment the trader clicked.
`
`I first saw MD Trader, a product sold by Trading Technologies ("TT'), some time
`3.
`during the late fall of 2000. Once I saw MD Trader, I knew that I wanted to use it. I
`immediately switched from using Patsystems to TT even though TI's product cost more.
`
`MD Trader was much. different than the trading systems available at the time.
`4.
`MD Trader displayed the market dara relative to fixed prices on the screen so that tile
`market moved up and down on the screen. This made it much easier to see how the .
`market was moving. In the preexisting screens, the trader needed to read and interpret
`nwnbers. MD Trader also allowed the trader to enter an order at a particular price with
`just one click in a way tbat eliminated the risk of orders being sent in at unintended
`prices. This risk was eliminated because it provided the ability to enter orders reLative to
`the fixed prices so that there was no risk of the prices changing while the trader was in
`the process of clicking. MD Trader also displayed the trader's working orders on the
`same screen in which the trader monitored market movements and entered orders. In
`addi lion, MD Trader provided the ability to cancel working orders with one click. I had
`never seen any of these features prior to seeing the MD Trader product.
`
`Because of the features discussed above, MD Trader was a much better product
`5.
`than the preexisting trading tools. The very different display allowed traders to get a
`better feel for movements in the market and to react quicker to the market changing
`because there was no 'need, as in the preexisting systems, to calculate numbers. The
`improved order entry of MD Trader also allowed a trader to enter orders faster. Also, by
`providing more infonnation in one screen (such as tbe working orders), MD Trader
`eliminated the cumbersome nature of previous systems.
`
`For someone who is an active trader, MD Trader was a revolutionary product.
`6.
`Only after I saw MD Trader did I realize the severe shortcomings of the preexisting
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`TRADING TECH EXHIBIT 2056
`CQG & CQGT v. Trading Technologies
`CBM2015-00058
`
`

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`systems. Whoever came up with the ideas behind MD Trader was truly "thinking outside
`of the box."
`
`In 2002, I joined Velocity Futures. Velocity Futures is a Futures Clearing
`7.
`Merchant ("FCM") and a proprietary trading fum. I am currently a Principal in the retail
`side of Velocity Futures and a Partner on the proprietary trading side. Velocity Futures
`currently has around 50~60 trader customers. Velocity Futures is based in and I currently
`reside in Houston, Texas.
`
`In the years following TI' s introduction of MD Trader, many other independent
`8.
`software vendors ("ISVs") have introduced similar products. 1 recall in the Ql of 2001.
`Patsysterns came out with a similar product called Dome. I specifically remember a
`Patsystems representative trying to sell the Dome product as being able to do everything
`IT's MD Trader does. I also recall many other ISVs, including YesTrader, Easyscreen,
`GL, Ffastfill. Strategy Runner and Tradestation each coming out with a look alike
`product to MD Trader and pitching that product has having functionality just like MD
`Trader. Other entities that I am aware of that have released knock-offs of MD Trader are
`Dorman Trading, Openecry, Photon Trader, Interactive Brokers, CQG and Transact
`Futures.
`
`I declare under penalty of perjury that the foregoing is true and correct. Executed on
`August~,2004.
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