Exhibit CC
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`Page 1 of 3
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`TRADING TECH EXHIBIT 2326
`TRADESTATION v. TRADING TECH
` CBM2015-00179
`
`

`
`From:
`Sent:
`To:
`
`Bee:
`Subject:
`
`Wednesday, December 23, 1998 7:27AM
`'aHart, Peter' <peterhart@epit.com>; 'Biddulph, Tom' <bid@skyweyr.com>; 'Bishop,
`Tom' <bishafloat@iscweb.com>; 'Carlston, Doug' <carlston@sonic.net>; 'Collins, Cliff
`<cliff@skyweyr.com>; 'Davidson, Gordy' <gkd@fwpa.com>; 'Dellenbach, Rob' <rbd
`@fwpa.com>; 'Donovan_Jeffrey' <jeffrey@inworldvr.com>; 'Ferris, Randall'
`<rferris@ferriscorp.com.au>; 'Friesen, Jeremy home' <jeremy@friesen.org>; 'Friesen,
`Marty' <marty@friesen.org>; 'Friesen, Rich Hm' <rich@friesen.org>; 'Goldberg, Linda'
`<lgoldberg@dand.com>; 'Grundfest, Joe' <joelaw@leland.stanford.edu>; 'Hancock,
`John' <jbh@fwpa.com>; 'O'Reilly, Tim' <tim@oreilly.com>; 'Pettibone, Stephen'
`<ametis@aol.com>; 'Porter, Mark' <mxp@fwpa.com>; 'Rahm, Rusty'
`<charlesrahm@home.com>; 'Sachs, Robert' <rrs@fwpa.com>; 'Sherman, David'
`<ds@davi dsherman. ca>
`'Fair, Paul' <Rrun123@aol.com>; 'Friesen, Eric home' <eric@friesen.org>
`ePIT newsletter 12/23/98
`
`THIS LETTER IS CONFIDENTIAL AND IS COVERED UNDER YOUR NON-DISCLOSURE AGREEMENT
`
`**********************************************************
`
`Another week without time to catch up. Rusty's list is getting longer and longer. Since he is not around to defend himself,
`the "let Rusty do it" list is growing. I haven't had the heart to send it to him just before the holidays.
`
`First off, I would like to give a big welcome to Doug Carlston who intends to join our board of directors. Doug is the
`founder and former Chairman of Broderbund. He started the company in the early eighties writing games and sold it this
`Summer for $420 million. Doug brings a strong interest in developing products and industry relationships. We are working
`with him to developing our target list of additional board members to join him. I look forward to working with Doug as we
`develop exchanges that are more closely aligned with customer interests. Doug's contact info: 415 458-3540 voice 454-
`9425 fax carlston@sonic.net He is away for the holidays until mid-January.
`
`I am reorganizing Trade Management with the Senior Traders taking more responsibility and ownership in preparation for
`a separation of ePIT and Trade Management offices. We currently have enough office space for 3 additional full time ePIT
`office workers, but beyond that we will have to create new facilities. We also hired a full time office manager, Mary
`Janssen. She will be starting Jan 4. She will be splitting her duties between Trade Management and ePIT for the time
`being. Mary Schremp, my current office manager will be returning to the trading floor. (At least I don't have to learn a new
`name!)
`
`We held our second trading contest using ePIT's real time trading platform with Trade Management Option Traders.
`Traders used both the original and Peter's "priority view" version. I took notes and the ideas from the traders came so fast,
`we needed more scribes. Tom and Cliff were there to monitor the technology, do some QA, watch the players and catch
`bugs.
`
`Peter and I continued discussions with Doug Engmann and Paul Koutoulas. Doug is leading a consortium to buy the
`equities exchange and just submitted their bid along with one other competitor. We want to be the internet exchange for
`the Pacific Exchange when it goes private. Some new SEC rulings, which allow 'for profit' exchanges and new products
`without prior approval, could be very significant. This is an interesting conversation which highlights the extreme
`differences between the old and the new. The prize is significant and the politics are complex.
`
`REDACTED- PRIVILEGED
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`Highly Confidential -Attorneys' Eyes Only
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`RF0041686
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`Page 2 of 3
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`

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`We completed the closing of the purchase of the software source code from SkyWeyr and BusinessBots on Monday. I
`would like to give a very big thank you to Rob Dellenbach and Peter Hart who both burned the midnight oil and went
`beyond the call of duty to get this done along with Mark Porter who shepherded the closing. (If Rob charges overtime we
`may have to redo the spreadsheets!)
`
`AOL has been added to the S&P 500 stocks and is up $12 this morning!
`
`Book review: I am halfway through Competing on Internet Time ... Lessons from Netscape. by Cusumano and Yoffie.
`Fascinating book. I have order a number of copies for distribution.
`
`*********************************************************************
`
`On the personal side and a sad note, I and everyone at ePIT give our condolences to Tom Biddulph whose brother died of
`cancer last week. We wish the family strength through this difficult time.
`
`***********************************************************************
`
`Rich Friesen
`
`Richard Friesen
`President
`Trade Management LLC 415 781 7430 x 447
`ePIT Inc.
`415 421-2919
`
`220 Montgomery St., Suite 437
`San Francisco, CA 941 04
`
`Member, Pacific Exchange
`
`415 730-8046 Cell phone during commute hours
`
`rich@trademan.com
`rich@epit.com
`
`www.trademan.com
`
`Highly Confidential -Attorneys' Eyes Only
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`RF0041687
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`Page 3 of 3