DECLARA liON OF CHUCK KY AN
`
`, Chuck Rya.n, declare as that:
`
`Jam personally familiar With the set of fact11 set {Qrth herein, artd, if called as A
`).
`witnes.~. I could and would testify thereto ot my own personal knowledge.
`
`I stutcd any career professiooi!.lly trading in 1984 when I ttaded ctt~h and futures
`2.
`off t~ floor for a money mtm~tgllr. Since then, I hnve speciali'l..ed in ~prudlng the
`treasury notes and bonds futures traded on the Chicago Board of Trude ("CBOT") and the
`underlying ,.,uh treasury notes Wld bonds (currently traded on eSpeed 1\Ild .Brulcenec). I
`fii"St started trading electrooically on Project A (the CBOT' s first elet:tronic trading
`platform) when it w11s released in ~tround 1995-1996. In 1999, I srarted trading the cash
`treasuries electrou i~ally on Cantor Fitzgenld's exchange using Cantor's front-end and
`keyboard. Thi$ eleclronic plntfonn ultimately became eSpec:d.
`
`Before the tinle of the CBOT's launch of the A/CJE system (its electronic trading
`3.
`platfonn following Project A ) in the fall of 2000. I looked at many J:o(tware vendors to
`decide which front-end 1 would use to trade clectronical.ly on the CDOT. I recall, for
`example, looking at software offered by Trading Technologies ("IT"), Yt-'> Trader,
`Ea~~yScreen and Pu.csystems.
`
`Then, in the fall of 2000, TT released a new trading tool called MD Trader.
`4.
`recall that MD Trader was lillikingly different than front-end order entry screens avctilahl
`at the time. MD Trader di.~play~d the ma:rket data relative to a column of prices that
`remllined srill on the screen. This allowed a trader to see market fl ow visually bec ause
`!he marlcel data would move up and down along the price column when the market
`changed. MD Trader also provided for accurate one click order entry relative Lo the still
`prices on the screen such that speed wa$ not sacriricet.l. MD Trader was much mon:
`intuitive and ca.~y to usc tho.n other systems and when f ~ aw it l felt that traders must hav
`been involved in irs design. I had never seen a trading front-end with these features prio
`to seeing MD TrAder.
`
`The differences described above provided dr.unatic benefits lo traders. For
`5.
`example, by allowing traden to cn,~ily see pric.;e movements, MO Trader allowed trade~
`to offload much of the memill burd.eo ~uired by previou~ front-end& (which ~quired
`trader& to read and interpret numbers) so tbat th~y could rea<:t quicker and concentrate o
`trnding. Al~o. the improved order entry allowed traders to trade mor~ confidently and,
`therefore, fA~ter. Such improvements io speed M e critical in eleclronic lrading where
`speed is incredibly important.
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`Page 1 of 2
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`TRADING TECH EXHIBIT 2058
`CQG & CQGT v. Trading Technologies
`CBM2015-00058
`
`

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`In the years follow.ing TT's rclea!>e of MD Trader, various companie!:l have
`eleased products with similar features to MD Trader. [recall, for cumple, 1\
`eprescntative from Patsystems, pitchil)g me on Pat11ystems pruductl! by makina reference
`o soon to be released version of its software that would function like TT's MD TradeT.
`
`declare under penally of perjury that the foregoing is \rue nnd correct. Executed on
`ugust:ll-. 2004. ~ .. · :...-----/
`
`Chu~.4
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`2
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`Page 2 of 2