TRADING TECH EXHIBIT 2092
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`TRADESTATION V TRADING TECH
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`CBM2015-00161
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`35
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`Code §101—|nventior1s Patentable
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`101: Inventions Patentable
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`“Whoever invents or discovers
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`any new and useful process,
`machine, manufacture, or
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`composition of matter, or any
`new and useful improvement
`thereof, may obtain a patent
`therefor,
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`Page 3 of 112
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`EEVA LastQt
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`CDHO I 7626
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`Z IE]Z
`2-
`2-
`2-
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`7627
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`21
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`TT’s Inventive GUI is Described By All of the
`Words of the Claims
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`’132 Patent, Claim 1
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`’3 4 Patent, Claim 1
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`1' iA m°l'h_°d Qt filacmgha Wade Ord‘? t_C(’jr 3 Conlimodliyhon
`*”_1 9 *«'~”(_"l"» fix” ‘N139
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`hlghesl bld Price and 3 IOWCSI 35k Pncca Usmg 3 gmphlcal
`user iiitertace and at user input device, said method com-
`prising:
`setting a preset parameter for the trade order
`displaying market depth of mo Commodity’ through a
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`dynamic display of a plurality of bids and 21 plurality 0t
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`..
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`asks in the markettorthe commodity, including Ell least
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`1.
`h‘ h.‘
`1
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`a portion o
`t e
`, it
`ant
`as
`quantities o
`t e
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`commodity, the dynamic display being aligned with a
`static display of prices corresponding thereto, wherein
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`the static display of prices does not move in response
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`to a change in the inside market;
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`di5Pl5‘3t'iDg 3“ order en“? mg-ion aligned will] [he Slalic
`display prices comprising a plurality of areas for
`receiving commands from the user input devices to
`send trade orders, each area corresponding to H price of
`the static display of prices; and
`selecting a particular area in the order entry rcgion
`through single action of" the user input device with a
`pointer of the user input device positioned over the
`pamcular 31.63 [0 sel 3 plumb-ly or addilionaj pamm_
`etcrs for the trade order and send the trade order to the
`_
`-
`3 ,
`H
`electronic Wchankki
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`1. Amethod for displaying market information relating to
`1.
`and taeilitatiiig trading of a commodity lJt.'tt1:_ traded in an
`electronic exchange having an inside market with it highest
`bid price cinda lowest askpricc ma graphical uscrinlcrfucc,
`the method cornprising:
`dynamically displaying a First indicator in one of a plu-
`ralifily rE)l.Cl|o(t1_‘-zitirlins in
`bid display rggiciii. Cil-lCl1-l()c_.-l5ll()|':
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`representing quantity ;tssoei.tted with at least one order
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`.1 x
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`to buy the commodity at the highest bid price eurrenilv
`awihble in [he mar1'(el_
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`dynamically displaying a second indicator in one of at
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`_
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`plurality of locations in an ask display region, each
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`location in the ask display region cori'espoi'it':irig, to :1
`price level along the eorimon static price axis,
`the
`second indicator representing quantity ttsxociated with
`at
`least one order in \-.,-II the commodity at lht; [owcsl
`ask price currently il\:lil(]l)lC in the market;
`tlisplaying the bid and ask displiiy re;_1i0ns in relation to
`fixed [)I'ie‘€
`lc':\"¢lS POSlllO1'lCd LtiL)]1t__'_ the COIIIJDJOIJ static
`Prlceflxl-"~‘”°h”“1‘Wh°"lhclnsldl’ l_'"'*1rkF‘°l"°1_"E‘$«'-“»ll“4‘
`17”“: l°V“l»“ Wing W‘ C‘]"”m‘3" ’*l-"WC P“C*' “’}'1-“_‘l" "K"
`move and at least one of the hrst and second indicators
`'"“V°" 1" [Ih°[_l"d f" ""k_d"‘P1“Y r°3"’”5 ”’l‘””'‘‘ I" [he
`cornrnon s a re price axis;
`displaying an order entry region comprising a plurality of
`locations for receiving commands to send trade orders.
`€itClt
`location corresponding to a price level along the
`common static price axis; and
`in re-spoiisc to a selection of El particular loculioiit of the
`order entry region by a single action of at user input
`device. setting it plurality of pttt'EltTlClcI'S for :1
`trade
`order relating to the commodity and sending the trade
`order to the electronic exehuiige.
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`Page 32 of 112
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`XX
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`

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`TT’s Claims Cover a Specific GUI Tool
`
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`Pae 49 of 112
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`No Pre-emption
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`lhiTEI."D4-Ja1.'l-E313; 1?
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`Page 50 of 112
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`the Dynamic Price Scale button, The current prior: stays centered on
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`CQG’S Expert Admits
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`A. My—My response to that would be—And I’m
`sorry I'm taking so long.—
`so I’m just wondering if I'm missing something-
`_—When were the patients issued?
`I think, ’04—‘O3/’04?
`
`Q. Yeah. And I have them here if you would like to
`
`look at them.
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`A. That’s okay. That’s okay.
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`Page 55 of 112
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`—Depo. at 109310-24, 1/20/15
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`

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`CQG’S Expert Admits
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`Q. Okay. And I think you testified earlier that some traders
`that have or that use and algorithmic trading tools
`sometimes like to have graphical user interfaces to get
`out of positions, so they don’t have to carry them
`overnight; is that right?
`
`Yes.
`
`‘k
`
`‘k
`
`‘k
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`‘k
`
`‘k
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`And would an electronic trader today require
`the software technology embodied by the asserted
`patents in order to get out of those positions, or could
`they use some other
`software or technology?
`
`AF‘k
`
`‘k‘k**
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`elfijrgi-;‘g_.§;;;::_fi_1
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`Q. Okay. Would an electronic trader in 2010 consider the
`technology embodied by the asserted patents—and
`what I mean by that
`is the technolo
`described in the
`asserted patents
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`As-
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`—Depo_ at 215:18—216:9; 217114-24, 1/20/15
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`Page 56 of 112
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`CQG’S Expert Admits No Pre-emption
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`Yeah. And you’ve talked about how they—
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`the patents deal with a static price column, a
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`dynamic display of depth of bids and asks of
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`each price and single-click order entry?
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`. Yes.
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`.
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`Is it fair to say that the—that the TT patents are
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`not trying to stop or preclude anybody from
`doing these strategies of—of which you’ve
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`‘
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`Steven Van Dusen
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`CQG‘s Expett
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`Page 57 of 112
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`provided-
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`. Thetwo—Thetwo that l mentioned?
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`. Yeah.
`
`A.
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`I think that is a fair statement.
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`—Depo_ at 108:13—109:1, 1/20/15
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`TT’s Invention Solved the Problem
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`Page 59 of 112
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`5 ,2 .
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`CQG’s Experts Admit That
`Claims Directed to Technology
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`Q. You are not an expert in electronic
`
`trading, correct?
`
`A.
`
`I would not say that I’m an expert in
`
`electronic trading, but I understand
`the needs of a trader as it relates to
`
`the issues in this case, which is the
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`matter here is a graphical user
`interface, that’s a different matter.
`
`Dr. John Mellor
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`CQG’s Expert
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`D
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`Page 65 of 112
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`—Depo_ at 39117-4011, 1/16/‘l5
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`

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`CQG’s Experts Admit That
`Claims Directed to Technology
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`Q. Would it be fair to say that Mr. Thomas has
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`more experience than you in the field of
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`graphical user interfaces for electronic trading?
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`I’m not sure that would be a fair
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`characterization.
`
`Why not?
`
`Because I think that the underlying technology
`is the graphical user interface, there are-
`
`you know, every graphical user interface
`application has sort of needs and goals and
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`I have extensive experience in graphical user
`
`interfaces. And as I sort of detail in my report,
`it’s over my career there have been numerous
`instances where I’ve been asked to create a
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`graphical user interface in a domain that I had
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`D“ J°,h” Mew”
`CQG 5 Expert
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`’
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`no prior experience.
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`PT-X 6051
`
`—Depo. at 45:8—26:2, 1/16/15
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`Page 66 of 112
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`CQG’s Experts Admit That
`Claims Directed to Technology
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`Q.
`
`Is it fair to say—and I believe you testified about
`
`this ear|ier—that MD Trader was an
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`improvement over prior systems?
`
`That’s my understanding, that's accurate.
`
`*
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`*
`
`*
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`*
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`*
`
`. Why is it that MD Trader was an improvement
`
`overpriorsystems?
`
`. Yeah. It seems to me that the reason was, is it
`
`facilitated more precision in execution. Because
`the prices weren’t moving, that axis was static,
`it allowed traders better precision In terms of
`their execution.
`
`sf‘ »
`
`‘
`
`Steven Van Dusen
`CQG’5 Expert
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`PT-X 6054
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`—Depo_ at 17419-174214; 17517-17518; 175:12—175:15, 1/20/15
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`Page 67 of 112
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`CQG’s Experts Admit That
`Claims Directed to Technology
`
`Q.
`
`Is it fair to say that the technology described in the patents
`is directed to a specific type of—
`
`*
`
`A.
`
`point and click, static
`display of prices, dynamic indicators meaning the size has
`changed, sing|e—c|ick order entry, yes.
`
`0- And sothe
`E is that a fair statement?
`
`A.
`
`Q.
`
`A.
`
`is it fair to—in your view, to character"
`t
`e of
`ra hical user interface in the
`
`e—
`
`'
`
`*
`
`~k
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`*
`
`~k
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`*
`
`—Depo. at 11023-5; 11028-11; 110213-15, 110218-21, 11123-4, 1/20/15
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`‘5-E?-“.=.1.'.EI“.I
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`Page 68 of 112
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`TT Was Issued a European Patent Where
`Standards for Eligibility are Much Higher
`
`E..,.,,,,.,.....
`Plllrlllrrlt
`European
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`2::-::_'::=m
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`The chairman announced the following:
`
`“Concerning claim 1 of the first auxiliary re uest. the ED
`is of the opinion that the subject matter of
`
`It relates to the fact
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`that the user is confronted with two correlated changing
`measures in a real-time environment and the need to
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`perform an action (order placing) on one measure
`(prices) at a guaranteed level. The solution is to use
`metadata to create a field of static values (prices). The
`other measures (bids and asks) are moved relative to
`the static field. This assures both speed and accuracy.
`
`p
`“ ““'”““““““““““""‘“""‘
`Q”.
`I
`W
`m
`In
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`Page 72 of 112
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`Claims To GUI Tools Are Patent Eligible
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`__
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`I
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`Composers
`Audiobooks
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`Page 80 of 112
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`Claimed GUI Analogous to a Device
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`M 81 of 112
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`New PTO Guidelines: Streamlined Analysis
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`“For purposes of efficiency in examination, a
`streamlined eligibility analysis can be used for a
`claim that ma or ma not recite a 'udicial
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`exception but
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`As an example, a robotic arm assembly having
`a control system that operates using certain
`mathematical relationships is clearly not an
`attempt to tie up use of the mathematical
`relationships and would not require a full
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`analysis to determine eligibility.”
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`Page 82 of 112