o -W\un\cn
`{:~ 2'\
`\ '1. lan. 1~
`
`Tot he
`EuropeanPatentOff~ee
`I
`
`for EPO 1151 only
`
`labutnon llliftsl
`
`Notice of Opposition to a European Patent
`I
`I
`I
`
`I
`
`I.
`
`Patent opposed
`
`Opp.No.
`
`OPPOI1l
`
`Patent No.
`
`1 319 211
`
`Applieation No.
`Date of mention ol the grant in the European Patent Bulletin
`!Art 97141, 99111 EPCI
`
`01920183.9
`
`13.04.2005
`
`Title of the invention:
`Click Based Trading with Intuitive Grid Display of Market Depth
`
`II.
`
`Proprietor of the Patent
`
`frst named in tile patent specifv.:ation
`
`Trading Technologies International, Inc
`
`Opponent's or representative's reference [ml>. 155p!US)
`
`IU. Opponent
`
`Name
`
`Address
`
`State of residence or of principal
`place of business
`
`Telaphone/T elex/Filll
`
`Mult~le opponents
`
`IV. Authorisation
`
`1. Representative
`(~arne only one rep15entative to
`v.t1om llOOfic<ltkln is to be made)
`
`Name
`
`Address of place of business
`
`Telepllone/Telexlfllll
`
`Additional representativelsl
`2. Employee(sl of the owonent
`authorised for these llpposrtion
`proceedings under An. 133(3)
`£PC
`
`Authorisationlsl
`
`To1./2.
`
`£PO F01m ZllO.I 04.93f~l o1 12191)
`
`OREF I
`
`EPE651TE
`
`OPP0(2) l I I I I I I I
`0d
`<"t·~
`\S'se bLOC
`
`DEUTSCHE BORSE AG
`
`Neue BoJSenstr. 1
`60487 Frankfurt am Main
`
`DE
`
`I
`p funher opponents see additional sheet
`
`OPPO)g) I I
`
`I
`
`I
`
`I
`
`I
`
`I
`
`I
`
`GrOnecker, Kinkeldey, Stockmair
`& Schwanhausser
`Anwaltssozietat
`- Association No. 72 -
`Maximilianstral!e 58
`80538 MOnchen
`Deutschland
`+49 89 212350 1
`tJ lon add~ional sheetlsee alllhorisationl
`
`Name!sl:
`
`o hasRlave been registered
`~ not considered l'lecessary
`tJ is/are enclosed
`
`under No.
`
`I
`
`+49 89 220287
`
`OPP015l
`
`1
`
`Page 1 of 24
`
`TRADING TECH EXHIBIT 2055
`IBG ET AL. v. TRADING TECH
`CBM2015-00182
`
`

`
`Representative's reference: EPE651TE
`
`V. Opposition is filed against
`
`-
`
`the patent as a whole
`
`- daim(s; No(s~
`
`~
`
`I
`
`VI. Grounds for opposition:
`
`Opposition is based on the following grooods:
`
`for EPO use only
`
`(a) the subject-matter of the European patent opposed is not patentable (Art 100(a) E~)
`because:
`
`-
`
`-
`
`-
`
`~is not new (Art. 52(1~ 5HPC}
`
`~does not involve aniJNefl!ivestep (Jilt 52(1): 56 E~)
`
`pi!lelltabiT~y is excluded I An.
`
`on other grnunds. i. e.
`
`I
`
`(b) the patent opposed does not disclose the invention in a manner sufficiently dear and comJjete
`fa ~to be carried out by a person sUied in the art (Art. lOO(b) EPC; see Art 83 EPC).
`
`(c) the subject·matter of the patent opposed extends beyornlllle cement of the application/
`of the ea!lier allJiicztion as ffied (Art. lOO(c) EPC, see An. 123(2) EPC).
`
`VII. Facts and arguments
`(Rule 55(c) EPC)
`presented in suppat of the opposition are submitted htrewith on a separate !fleet (annex 1)
`
`[!:
`~
`[
`
`[!:
`
`~
`
`l8
`
`VIII. Other requests:
`
`Oral Proceedings unless revocation of the patent as a whole in writing
`
`EPO F01m zm.z D4.9Jirn. ed. I :!'!Ill
`
`2
`
`Page 2 of 24
`
`

`
`lor EPO use only
`= ~
`dt>eliiE<lalBJoterclale =C
`
`Encbse<l
`
`Publication
`dote
`
`.
`
`Representative's reference: EPE651TE
`
`IX. Evidence presented
`
`A.
`
`Publations:
`
`1 seeAnnex2
`
`Particular relevance {page, column. line. fig.):
`
`2
`
`Particular relevance {page. collmn. Une, f~gJ:
`
`3
`
`PartiOJiar relevance {page. coU!ln.line. frg.):
`
`4
`
`PaJtiaJiar relevance {page. colurm, line. frg.):
`
`5
`
`PartiOJiar relevance {page. co\Jrnn, line. fiQJ:
`
`6
`
`PaJtiaJiar relevance (page. colurm,line. f19.):
`
`7
`
`Particular relevance (page. ~olumn. Hne. frgJ:
`
`B.
`
`Other evidence
`
`Continued on additional sheet
`
`~
`
`EPO Form 2300.3 Ot93[i1l. .c. 121911
`
`3
`
`Continued on additional slleet
`
`L
`
`Page 3 of 24
`
`

`
`Representative's reference: EPE651TE
`
`X.
`
`Payment of the opposition fee is made
`
`~ as indicated in the encloSed voucher For paynent of fees and costs (EPO Form 10'0)
`D
`
`XI. List of documents
`
`Erxiosure
`No.
`
`No. oftc(ies
`
`for EPO use only
`
`0 ~ Form for notice of opposi!Dn
`I2SJ Facts and arguments (see VII.)
`
`1
`
`m {mn2l
`m {mir<2)
`Copies of documents prl!SI!IIIed as evidence (sec IX.)
`m {min21feacn)
`[!] - Publications
`2b D - Other documents
`D
`3 D Signed alllhorisation(s) (see IV.)
`D
`m
`[!] Voucher for pa}fllent of fees and C05IS (see X.)
`~ D Cheque
`D
`6 D Additional sheetls)
`D
`1 0 Other (please specify here): Receipt for documenls OJ
`Annex 2: List of Prior Art Documents
`2
`
`2
`
`2a
`
`4
`
`{min2of03CII)
`
`!mn 2 of each)
`
`XII. Signature
`of opponent or representative
`
`GRONECKER, KINKELDEY, STOCKMAIR
`& SCHWANHAUSSER
`ANWAL TSSOZIETAT
`
`Place Munich
`
`Date
`
`12 January 2006
`
`'-(l·~~
`
`Dr. Thomas Elckelkamp
`
`Please t)llO """""nd9' •!JnaU.re.ln lheca>e dlo!Jlll""""" lhe JDSUinwhi:hlhe """""~nng 'llld»•<l'inlhe ""'l""Y Sllluld alsobo I)1IOd
`EPO lorm 2300.4 ()1.93 r"L ad. 12191)
`
`4
`
`Page 4 of 24
`
`

`
`GRUNECKER KINKELDEY STOCKMAIR & SCHWANHAUSSER
`
`ANWAlTSSOZIETAT
`
`GKS & 5 MAXIMIUANSTRASSE 58 [).80538 MONCHE~ GERMANY
`
`European Patent Office
`ErhardtstraBe 27
`
`80298 Mi.inchen
`
`RE0115ANWAI.TE
`LAWIER!i
`
`M0NCHEN
`DR. H£l.HJT EICHMANN
`GERfWlll BA'!III
`DR. UlJIIOII!IJJMSjROIJER,LLM.
`CHRISTA NI~AUER
`DR. J.WQI4IUAN l(tjKEl.l>EY,LLM.
`DR. IWISTBI BRANDT
`ANJA FRANK£, LUI.
`lfJE STEPHANI
`DR. BERN:) AUEKOTIE. LLU.
`OR. ELVIRA BUTRAM, LLM.
`l:AR1H I.OCHitER
`BABffiERTU:
`OIRISTIN~ NELQIIEilL
`SABtiE P<Oc:l<1oER
`CORNEUA SCHMITT
`BERNHAII> MEHNERT, 01PL lNG.
`PETRA tiB8E
`DR. SQN.M. BIOTJE
`
`PATENTANWAI.JE
`EUROPEAN PATENT ATTORNEYS
`MUNCHEN
`DR. HERMANN ICJHKELOEV
`PETER H. JAAOB
`HANS HILGERS
`OR. HENNING MEYER-Pt.ATH.
`ANNEUE EHNOLD
`THOMAS SCHUSTER
`OR. KLARA GOLDBACH
`MAill1N 1\UFENNIGER
`GOTTFRIEO IWTZSCH
`OR. HElKE \IOGEf.SANG.MNKE
`RENHAROICNAIJER
`01£TIAAR KUI-t..
`OR. FRANZ.JOSEF ZIMMER
`BETllNA llliEICHELT
`OR. ANTON ll PfAU
`OR.UOOMGEIT
`RAINER 8ER1RAM
`JENS KOCH. M.S.(U ol PAl M.S.
`B~D ROTHAEMEL
`THOMAS W.I.AUBS'ffiiAL
`OR. ANDREAS KAYSER
`DR. JENS HAMMER
`DR. THOIMS BCKElXMIP
`DR. CARLO TORTI'
`•EUROPEAN PAJl'Pil Anc:JINO
`
`PATENTANWAl.TE
`EUROPEAN PATENT ATTORNE.'IS
`BERIJN
`'IOF. OR. MANFRED SONING
`JR. PATit.CK ERIC. M.S (MIT)
`KQIN
`JR. hiARTIN DROPMANtl
`CHEMNITZ
`JR. CARt.! EN STEINIGER'
`• PATINJAHW.ILliN
`AUCANTE
`WOLFHARD MEISlER
`DR ANDREAS TORKA'
`•REOmAHWJ,lT
`
`DR. WllfRIED SJ()CKNAIR
`:-1996)
`
`IHR ZEICHEN I YOUR REF.
`
`UNSE.~ ZEICHEN/OUR REF.
`
`EPE651TEkle
`
`January 12, 2006
`
`DATUM/DATE
`
`Application No.:
`01 920 183.9
`EP 1 319 211 81
`Patent No.
`Patent Proprietor: TRADING TECHNOLOGIES INTERNATIONAL, INC.
`DEUTSCHE B0RSE AG
`Opponent:
`
`ANNEX 1
`VII. FACTS AND ARGUMENTS
`
`1. Subject Matter of the Patent
`2. Inadmissible Extensions
`3. Lack of Enablement
`4. Lack of Patentability
`4.1 Independent Claims
`4.1.1 Lack of Novelty over E1
`4.1.2 Lack of Novelty over E2 and E3
`4.1.3 Lack of Inventive Step over E4 or E5
`4.1.4 Lack of Inventive Step over E4 or E5 in view of E6 to E9
`4.2. Dependent Claims
`5. Conclusion
`
`GRUNECKER KINKELDEY
`STOCKMAIR & SCHWANHAUSSER
`MAXIMIUANSTR. 58
`0..80538 MUNCHEN
`GERMAt-IY
`
`TEL +49 89 2123 50
`FAX +49 89 22 02 87
`FAX +49 89 21 86 92 93
`http://www.grunecker.de
`e-mail: info@grunecker.de
`
`DEUTSCHE BANK MUNCHEN
`No.17 51734
`BIZ 700 700 10
`SWIFT: DEUT DE MM
`
`Page 5 of 24
`
`

`
`2
`
`1. Subject Matter of the Patent
`
`The patent relates to a client device for receiving commands relating to a commodity
`being traded on an electronic exchange. According to independent claim 1, the client
`device is defined as follows:
`
`1. A client device (11 0- 116) for receiving commands relating to a commodity
`being traded on an electronic exchange (101 - 1 03), comprising:
`
`an interface for receiving data relating to said commodity from the electronic
`exchange, the data comprising at least a current highest bid price and a
`current lowest ask price (1020, 1101) available for said commodity;
`
`means for setting a trade order parameter;
`
`means for displaying a first indicator at a first area aligned with a first price
`level in a field of static prices (1005, 1203), the first indicator being associated
`with the current highest bid price for said commodity;
`
`means for displaying a second indicator at a second area aligned with a
`second price level in the field of static prices, the second indicator being
`associated with the current lowest ask price for the commodity;
`
`means for updating the display of the first and second indicators, wherein in
`response to new data representing a different highest bid price and/or lowest
`ask price of the commodity received from the interface, at least one of the first
`and second indicators is moved relative to the field of static prices to a
`different area aligned with a difterent price level within the field of static
`prices; and
`
`an order entry region (1003, 1004; 1201, 1202) comprising a plurality of
`areas, each area being aligned with a price level in the field of static prices
`and each area being selectable by a us~r input means, the order entry region
`being configured such that selection of one of the plurality of areas sends an
`order message to the electronic exchange based on the trade order
`parameter and the price level that is aligned with the selected area.
`
`Independent claim 29 specifies a corresponding operation method:
`
`29. A method of operating a client device (110- 116) for receiving commands
`relating to a commodity to be traded on an eleclronic exchange (101 - 103),
`comprising:
`
`receiving data relating to said commodity from the electronic exchange, the
`data comprising a current highest bid price and a current lowest ask price
`available for said commodity;
`
`setting a trade order parameter;
`
`GRONECKER KINKEL DEY STOC KMAIR & SCHWANHJ\USSER
`
`Page 6 of 24
`
`

`
`3
`
`displaying a first indicator at a first area aligned with a first price level in a field
`of static prices (1005, 1203), the first indicator being associated with the
`current highest bid price for said commodity;
`
`displaying a second indicator at a second area aligned with a second price
`level in the field of static prices, the second indicator being associated with
`the current lowest ask price for the commodity;
`
`displaying an order entry region (1003, 1004; 1201, 1202) comprising a
`plurality of areas, each area being aligned with a price level in the field of
`static prices and each area being selectable by a user input means so as to
`receive a command to send an order message based on the trade order
`parameter and the price level that is aligned with the selected area to the
`electronic exchange; and
`
`updating the display of the first and second indicators such that at least one of
`the first and second indicators is moved relative to the field of static prices to
`a different area aligned with a different price level within the field of static
`prices in response to the receipt of new data representing a different current
`highest bid price and/or current lowest ask price of the commodity.
`
`Finally. claim 53 specifies a corresponding computer program product.
`
`1009
`v
`101
`101
`1
`101
`2-'"
`v
`101
`4--
`101
`
`100 7
`
`5
`
`24
`
`98
`
`SYCOII FGBLDECS9
`EJEll!l
`10:48:44 BidQ ~ Pn: LTQ
`ENI
`r--= \l-1-
`--= R
`104 99
`-~ 72D
`97
`33
`1~\· 10
`115 96
`!----= ~
`:32
`10
`1H
`21
`3H
`1K 5H
`
`I'= 00
`1~024
`~ /Cl.R
`xl to
`
`s/
`101
`1-
`101 6/
`
`95
`94
`
`93
`92
`
`63
`45
`
`10
`
`1020
`
`28
`20
`
`91
`!KI
`
`89
`
`88
`
`87
`
`86
`85
`
`64
`
`83
`
`82
`
`81
`
`18
`
`ffl
`
`30
`
`43
`
`110
`
`23
`
`31
`
`125
`21"
`
`17
`
`, ...
`
`CXL
`
`~015
`~·"13.< I+J [·]
`
`NETO
`
`NET REAl
`
`1/
`101
`b=::::
`101 8,..
`~~7
`~
`
`1008
`
`101
`
`__...-'
`102 1/
`,.----
`,__·
`
`~.·
`
`1001
`
`1002
`
`100l 1tm 10051006
`
`GRONECKER KINKELDEY STOC KMAIR & SCHWANHAUSSER
`
`Page 7 of 24
`
`

`
`4
`
`The patent specification describes in [0013] that the claimed subject matter would ensure
`fast and accurate execution of trades by displaying market depth on a vertical or
`horizontal plane, which fluctuates logically up or down, left or right across the plane as the
`market prices fluctuate. This would allow the trader to trade quickly and efficiently.
`
`2. Inadmissible Extensions
`
`The independent claims and many of the dependent claims include features not disclosed
`in the application documents as originally filed.
`
`• Claim 1 specifies means for displaying a first indicator, means for displaying a
`second indicator and means for updating the display of the indicators so that the
`indicators move relative to the field of static prices. The indicators are associated
`with the current highest bid price and the current lowest ask price, respectively.
`Claim 29 includes corresponding features. However, the application as originally
`filed is silent with respect to such indicators.
`It is particularly noted that the
`application as originally filed does not explain the highest figure in the BidQ column
`1003 and the lowest figure in the AskQ column 1004 of Fig. 3 to be more than just
`the highest figure in the BidQ column and the lowest figure in the AskQ column. In
`addition, these figures do not even qualify for being used as moveable indicators
`since they disappear as soon as the respective quantities change, and are replaced
`by other figures.
`
`In addition, the claimed features cover indicator realizations where no disclosure can
`be found in the original application that this was intended to be protected. For
`instance, the indicators as claimed cover highlighting the inside market 1020 by
`shadowing, inverting or coloring the respective cells. Another example of indicators
`that would fall under the claimed definition would, for instance, be an arrow or any
`other marking next to the inside market where the marking moves up or down.
`However, it is not directly and unambiguously derivable from the application as
`originally filed that protection was sought also for these embodiments. The claims
`are therefore broader than what the patent proprietor is entitled for.
`
`GRUNECKER KINKELDEY STOCKMAIR & SCHWANHAUSSER
`
`Page 8 of 24
`
`

`
`5
`
`• Independent claims 1, B. 15, 22, 29 and 35 as originally filed include the features of
`dynamically displaying a plurality of bids and asks. In addition, the summary of the
`invention section of the application as originally filed also specifies this feature to be
`part of the invention (page 5, lines 4 to 8). However. this feature has been omitted
`from the independent claims. The independent claims as granted merely refer to the
`current highest bid price and the current lowest ask price. Thus, protection is now
`also sought for client devices and corresponding methods which do not display a
`plurality of bids and asks but merely the current highest bid price and current lowest
`ask price. However, the application as originally filed does not directly and
`unambiguously show that this was intended at the time of filing the application.
`Moreover, bids and asks include not only prices but also quantities, but the
`independent claims as granted fail to specify any quantities to be displayed.
`
`• The independent claims of the patent specify an order entry region that comprises a
`plurality of areas where each area is aligned with a price level and is selectable by
`user input means. This definition is broader than justified by the original disclosure.
`Original claims 22, 29 and 35 specify that the pointer of the user input device is
`positioned over an area in the dynamic display of bids and asks. This is also what is
`described in the description section of the specification. However, the independent
`claims of the patent now also include the use of an order entry region which is not a
`dynamic display of bids and asks. For instance, a series of aligned software buttons
`next to the field of static prices would also fall into the scope of the independent
`claims. However, the application as originally filed does not allow for directly and
`unambiguously deriving that this would be an embodiment Rather, it can be taken
`from the application as originally filed that the order entry areas have to dynamically
`display bid and ask quantities.
`
`• Independent claims 1 and 29 specify that the indicators are moved in response to
`new data representing a different highest bid and/or lowest ask price. This feature is
`not found in the application as originally filed. The description of Figures 3 and 4
`indicate that the inside market and market depth ascend and descend as prices in
`the market increase and decrease. It is however not described that this happens in
`
`GRONECKER KINKELDEY STOCKMAJR & SCHWANHAUSSER
`
`Page 9 of 24
`
`

`
`6
`
`response to new data representing a different highest bid price and/or lowest ask
`price. Rather, the client device could also collect any incoming oata and update the
`display not earlier than in response to a received command, or on a regular basis.
`
`• Dependent claim 3 specifies that a plurality of parameters, which are set for the
`order message in response to selection of an area of the order entry region, include
`an order type. While the application as originally filed describes that depending on
`whether column 1003 or 1004 was clicked a sell limit order or a buy limit order is
`sent, no disclosure can be found for setting an order type parameter.
`
`• Claims 5 and 34 specify that the re-centering command comprises a predetermined
`action of a user input device. This definition is broad enough to include keystroke
`operations or double-clicks. However, the application as originally filed merely
`discloses a single mouse click as user input action {page 15,1ines 10 to 15).
`
`For the same reason, claims 6 and 35 extend beyond the application as originally
`filed since the claims refer to a single action of the user input device but a single
`action may also include more than one click (page 6, line 31 to page 7, line 2).
`
`• Claims 8 and 47 specify that the first indicator is displayed in one of a plurality of
`areas in a bid display region and the second indicator is displayed in one of a
`plurality of areas in an ask display region. However, even when taking the highest
`figure in column 1003 as first indicator and the lowest figure in column 1004 as
`second indicator, no disclosure is found for displaying the indicators in other areas.
`Nevertheless, displaying the indicators in other areas is covered by these claims.
`
`• Claim 13 specifies that the bid and ask display regions are oriented horizontally.
`The claim depends on claim 11 which specifies that the bid and ask display regions
`comprise columns with cells that are aligned. The application as originally filed does
`not describe horizontally oriented bid and ask display regions comprising columns of
`aligned cells.
`
`GRONECKER KINKELDEY STOCKMAIR & SCHWANHAUSSER
`
`Page 10 of 24
`
`

`
`7
`
`• Claims 14, 15, 50 and 51 specify that the bid and ask display regions overlap the
`order entry region. It is noted that "overlapping" is synonymous to "extending over
`and covering a part or. or "covering and extending beyond". Consequently, the
`claims specify that the bid and ask display regions would extend over the order entry
`region and cover a part of it. However, the application as originally filed does not
`show that bids and asks are displayed in regions extending beyond the order entry
`region.
`
`• Claims 22. 23 and 44 refer to a last trade indicator. Similar to what was stated
`above with reference to the first and second indicators, this claim definition is
`broader than justified by the application as originally filed since it includes other
`forms of a last trade indicator than originally disclosed.
`
`• Claim 25 specifies that the first and second indicators comprise numbers. However,
`the application as originally filed is devoid of any mentioning of numbers other than
`those reflecting bid/ask quantities.
`
`• Claim 28 specifies that at least a portion of a field of static prices is displayed in a
`column. However, no disclosure is found in the application as originally filed that
`only a portion of the field of staUc prices is displayed in a column.
`
`Moreover, claim 28 depends, inter alia, on claim 13 which specifies that the bid and
`ask display regions are oriented horizontally. According to claim 8, on which claim
`13 depends, the first and second indicators are displayed in respective areas in the
`bid and ask display regions. Claim 1, on which claim 8 depends, specifies that at
`least one of the first and second indicators is moved relative to the field of static
`prices. However, no disclosure is found in the application as originally filed to move
`an indicator relative to a field of static prices which is displayed in a column, i.e.
`vertically, where the indicators are displayed in bid and ask display regions which
`are oriented horizontally.
`
`For the above reasons, the subject matter of the patent extends beyond the content of the
`application as filed.
`
`GRONECKER KINKELDEY STOCKMAIR & SCHWANHAUSSER
`
`Page 11 of 24
`
`

`
`8
`
`3. Lack of Enablement
`
`Claims 13 and 28 define subject maHer which the skilled person is not enabled to carry
`oul
`
`• Claim 13 specifies that the bid and ask display regions are oriented horizontally.
`The claim also depends on claim 11 which specifies that the bid and ask display
`regions comprise columns with aligned cells. However, the patent does not disclose
`the invention in a manner sufficiently clear and complete for it to be carried out by a
`person skilled in the art since the skilled person is not enabled to provide a column
`of aligned cells in horizontally oriented bid and ask display regions.
`
`• Claim 28 specifies that at least a portion of the field of static prices is displayed in a
`column with a plurality of cells which each correspond to different price level. The
`claim is, inter alia, dependent on claim 13 which specifies that the bid and ask
`display regions are oriented horizontally. According to claim 8, on which claim 13
`depends, the first and second indicators are displayed in respective areas in the bid
`and ask display regions. Claim 1, on which claim 8 depends, specifies that at least
`one of the first and second indicators is moved relative to the field of static prices.
`However, the patent does not disclose this combination of features in a manner
`sufficiently clear and complete for it to be carried out by a person skilled in the art.
`In particular, the skilled person is not enabled to move an indicator relative to a field
`of static prices which is displayed in a column. i.e. vertically, where the indicators are
`displayed in bid and ask display regions which are oriented horizontally.
`
`Consequently, the patent does not disclose the claimed subject maHer in a manner
`sufficiently clear and complete for it to be carried out by a person skilled in the art.
`
`GRONECKER KINKELDEY STOCKMAIR & SCHWANHAUSSER
`
`Page 12 of 24
`
`

`
`9
`
`4. Lack of Patentability
`
`4.1 Independent Claims
`
`4.1.1 Lack of Novelty over E1
`
`Document E1 describes computer-based techniques for managing orders placed in a
`
`physical market for trading instruments such as stocks, bonds, stock options, futures
`
`options and futures contracts on commodities (see page 1, lines 1 to 6). For that purpose,
`
`a broker work station is provided that comprises a computer for receiving orders and
`
`controlling display means (first paragraph of summary section}. Thus, a client device is
`
`described for receiving commands relating to a commodity being traded on an electronic
`
`exchange.
`
`A workstation receiver module receives suitable communications from an electronic order
`
`entry system and price reporting system that are provided by the exchange and are
`
`electronically connected to the workstation by a suitable link (page 16, lines 11o 5). Thus,
`
`an interface is provided for receiving data relating to the commodity from the electronic
`
`exchange.
`
`As apparent from Figure 2b, the data comprise, inter alia, a current highest bid price and a
`
`current lowest ask price, which are the prices of the highest figure in the bid column and
`
`the lowest f~gure in the ask column, respectively.
`
`135
`l
`BUY
`~~~ U.IT SIP l SIP U.IT
`
`0
`0
`
`136
`
`00
`
`"-... 31 @)
`
`1J9-9
`
`GRONECKER KINKELDEY STOCKMAIR & SCHWANHAUSSER
`
`Page 13 of 24
`
`

`
`10
`
`In the screen, fill pane 140 is provided to allow entering an identification code of the
`counterpart broker and firm by means of a keyboard or other suitable data entry device
`(see sentence bridging pages 28 and 29). Consequently, means is provided for setting a
`trade order parameter.
`
`In the order screen, column 136 is a display of price ticks. As can be seen from Figure
`2b, no order exists at a price of 00 but this price tick is nevertheless shown.
`Consequently, column 136 is a field of static prices as the displayed prices do not depend
`on the presence of an order.
`
`In Figure 2b, the current highest bid price is 28, and the blue squares 139-2 and 139-7
`(see page 26, lines 8 to 9) are indicators at first areas aligned with a first price level
`associated with the current highest bid price.
`
`Similarly, the current lowest ask price is 29 and the red circles 139-4 and 139-6 (see page
`26, lines 9 to 10) are second indicators at second areas aligned with a second price level
`associated with the current lowest ask price. Further, the market bar 137 is yet another
`indicator (see last paragraph on page 27).
`
`According to page 26, lines 3 to 4, the market bar (and therefore also the remaining
`indicators) move up and down along the price column in response to changes in the
`market price. Consequently, the display of the first and second indicators are updated
`such that in response to new data presenting a different highest bid price and/or lowest
`ask price of the commodity received from the interface, at least one of the first and second
`indicators is moved relative to the field of static prices to a different area aligned with a
`different price level within the field of static prices.
`
`The screen is described to be an input screen (see last paragraph on page 21). The
`screen includes a deck pane 135 which comprises order icons 139 (last paragraph on
`page 26). The order icons are within a touch-sensitive area (last line on page 26) and can
`be touched to select the respective order (last paragraph on page 28). The input screen
`therefore has an order entry region comprising a plurality of areas, and each area is
`
`GRONECKER KINKELDEY STOCKMAIR & SCHWANHAUSSER
`
`Page 14 of 24
`
`

`
`11
`
`selectable by a user input means. According to Figure 2b, each order icon 139 is aligned
`with a price level in the field of static prices.
`
`According to the last paragraph on page 28, an order is selected by touching the
`corresponding order icon. When the order is selected, price and quantity appear in the fill
`pane, and a message relating to this order (i.e., an order message) is sent out right after
`pressing the SEND FILL button on the screen, without any additional intermediate steps
`(see paragraph bridging pages 28 and 29, particularly lines 5 to 8 on page 29). Thus, it is
`just necessary to press two buttons (the order icon and the SEND FILL button) to send an
`order message to the electronic exchange based on trade order parameters and the price
`level that is aligned with the selected area.
`
`In claim 1 of the patent, it is stated that ·selection of one of the plurality of areas sends an
`order messagep. Claim 30 makes clear that "selection· can be interpreted as being a
`"single action·. Paragraph [0018) of the patent specification defines "single action" to be
`"any action by a user within a short period of time, whether comprising one or more clicks
`of a mouse button or other input device". Thus, pressing two screen buttons within a short
`period of time would fall under "selection". As E1 explicitly describes on page 29, lines 5
`to B that pressing two buttons without intermediate information entry is to expedite the
`sending of the order message, it is directly and unambiguously clear that both buttons are
`pressed within a short period of time. Consequently, the manner of how to select an order
`according to the prior art of E1 covers what is claimed in claim 1 of the patent when
`saying that •selection of one of the plurality of areas sends an order message".
`
`In conclusion. as all of the features of claim 1 are disclosed in document E 1, the claimed
`subject matter lacks novelty. The same holds true with independent method claim 29
`since this claim corresponds to claim 1 without claiming additional features. Similarly, the
`subject matter of claim 53 lacks novelty since E1 discloses a computer-based system and
`thus does at least implicitly disclose a computer program product having a program
`recorded thereon.
`
`GRONECKER KINKELDEY STOCKMAIR & SCHWANHAUSSER
`
`Page 15 of 24
`
`

`
`12
`
`4.1.2 Lack of Novelty over E2 and E3
`
`E2 and E3 describe the GL TRADE trading pad that allows a trader to enter orders quickly
`
`and efficiently with the mouse. The trading pad has an Instrument Information Matrix 21M
`
`which displays information across all prices available for one given instrument market
`
`depth (see page 3 of E2).
`
`The price column includes all possible prices (see screen shot on page 3 of E2). Section
`
`II on page 5 describes that the market depth of a given instrument can go beyond.
`
`Consequently, the instrument information matrix displays a field of static prices.
`
`The current highest bid price and the current lowest ask price and respective indicators
`
`are derivable from the trading pad screen shot in the same manner as from Figure 3 of the
`
`patent. Thus, if Figure 3 of the patent is supposed to show first and second indicators
`
`which move along the field of static prices in response to new data, the same holds true in
`
`the prior art software of E2 and E3.
`
`Page 7 of E2 and section 1.1.15.9.a of E3 describe that the trader is allowed to click on a
`
`buy or sell column's cell, and another click will send the order to the market. Thus, the
`
`prior art system of E2 and E3 shows an order entry region having a plurality of areas
`
`GRONECKER KJNKELDEY STOCKMAIR & SCHWANHAUSSER
`
`Page 16 of 24
`
`

`
`13
`
`being aligned with respective price levels and being selectable by a user input means
`
`where selection of one of the areas sends an order message to the exchange based on
`
`trade order parameters and the respective price level.
`
`In consequence, the subject matter of the independent claims lacks novelty over each of
`
`E2 and E3.
`
`4.1.3 Lack of Inventive Step over E4 or ES
`
`Each of documents E4 and E5 describes a futures and options trading system including
`
`client devices for receiving commands relating to a commodity being traded on an
`
`electronic exchange (see page 2-1 of E4 and pages 3 and 13 of ES).
`
`2
`2
`
`5
`
`10
`
`250
`10
`
`H
`1
`L
`
`p
`
`42588_
`
`17
`4"1
`5
`36
`44
`46
`123
`141
`2
`817
`6084
`
`3
`
`6
`3
`6
`2
`5
`3
`4
`:l
`169
`
`I
`
`L ____________________ - -_ _I,!~~ER
`
`@ K 13320 (13: 17):....!...( .::;2;:,01:.::2::,):---~@~IL l..t.=..J.I..:...H,:,!-fy~='""@"""'s:;:---1
`<ID 15 1iiiG:t4l
`@
`(fg)
`<;I -~
`10
`250
`1 ®l 0
`® ~------·
`fit f'T
`13291
`157
`1810
`OVER
`( 9;05)
`1
`3
`13029
`13320
`4
`132
`13020
`( 9:46)
`13274
`4
`145
`13027
`2
`70
`13025
`( 9: 10)
`2
`29
`13025
`13310
`13024
`(13: 16)
`I
`20
`11a1E
`13023#@
`( 2021)
`@
`13022
`+J3
`1:1021
`13020K'-(tlj)
`13019
`130Ul
`13017
`13016
`13015
`13014
`13013
`13012
`13011
`13010
`
`sic
`\'1
`iL5 13005@
`2ltl3 ::!~~~
`
`'
`iL4
`
`(13: 14)
`13008
`
`Lt
`
`L2 13008
`(13: 16)
`13009
`(13: 16)
`5 ®
`w
`
`The board screens shown on page 7-17 of E4 and page 5 of E5 display order information
`
`which
`
`includes the current highest bid price and the current lowest ask price.
`
`GRONECKER KINKELDEY STOCKMAIR & SCHWANHAUSSER
`
`Page 17 of 24
`
`

`
`14
`
`Consequently, an interface is provided for receiving those data from the electronic
`exchange.
`
`Trade order parameters may be set. for instance, in the window "Inputting a New Order"
`shown on page 9-5 of E4 or on page 7 of E5. ConsequenUy. means is provided for setting
`a trade order parameter.
`
`At least two different screens are provided in the system of E4 and E5 that have a field of
`static prices: the ·uncompressed" board screen and the "scroll screen·.
`
`The board screens on page 7-17 of E4 and page 5 of E5 are "uncompressed" since they
`display all prices even though some of the prices have no orders (see bottom of page 7-
`21 of E4). Consequently, the prices are static since they do not depend on whether there
`are associated orders.
`
`Moreover, it is described on page 7-25 of E4 that for an "uncompressed" screen, the
`prices are not re-centered unless the "center price· moves out of specific boundaries.
`Taking the example of page 7-17 which is an "uncompressed" "screen divided into two",
`page 7