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`
`US00?904374B2
`
`(12) United States Patent
`Kemp, 11 et at.
`
`(10) Patent No.:
`(45; Date of Patent:
`
`US 7,904,374 B2
`*Mar. 8, 2011
`
`(54)
`
`(75)
`
`CLICK BASED TR.-\l)lN(} \VI'l'H INTUITIVF.
`GRID DISPLAY OF MARKET DEPTH
`
`Inventors: Gary Allan Kemp, II. Winnetka. 11.,
`(US): Jens-Uwe Sehluetter. livanston.
`1L(US): HE-Il'1‘l§ Brumlield, Chicago, IL
`(US)
`
`(73)
`
`Assignee:
`
`Trading Technologies International,
`Inc.. Chicago, IL (US)
`
`1*)
`
`Notice:
`
`Subject to any disclainicr, the term of this
`patent is extended or adjusted under 35
`U.S.C‘. l54(b) by 559 days.
`
`This patent is subject to a tenninal dis-
`claimer.
`
`(21)
`
`Appl. No; 111585.905
`
`(22)
`
`Filed:
`
`Oct. 25. 2006
`
`(65)
`
`(63)
`
`Prior Publication Data
`
`US 200710038554Al
`
`Feb. 15, 2007
`
`Related U.S. Application Data
`
`Continuation of application No. 111415.163. filed on
`May 2, 2006, now Pat. No. 7,813,996, which is a
`continuation ofapplieation No. 101237.131, filed on
`Sep. 9. 2002. now abandoned, which is a continuation
`of‘ application No. 091590,692, filed on Jan. 9, 2000.
`now Pat. No. 6.772.132.
`
`(60)
`
`Provisional application No. 6011 86.322. tiled on Mar.
`2. 2000.
`
`(51)
`
`(52)
`(58)
`
`Int. Cl.
`
`Gt'}6Q 40/00
`
`(2006.01)
`
`Field ef('.'IassiIicatinn Search
`
`705135 45
`
`See application file for complete search liistory.
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`Richard C Weisberger
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`ABSTRACT
`
`A method and system for reducing the time it takes for a trader
`to place a trade when electronically trading on an exchange,
`thus increasing the likelihood t11at the trader will have orders
`lilled at desirable prices and quantities. Tlte “1V1eItcury" dis-
`play and trading method oftlte present invention ensure fast
`and accurate execution oftrades by displaying market depth
`on a vertical or liorizontal plane, which fluctuates logically up
`or down. hell or right across the plane as the market prices
`llnctuales. This allows the trader to trade quickly and elli-
`ciently.
`
`36 Claims, 6 Drawing Sheets
`
`OONNECTIUN T0 InlL|LTlPLE EJCGIIWGEES
`I-IOGTEXCHINGE
`HOST EXGHIMEE
`
`
`
`111
`I15
`IIS
`113
`I12
`I11
`“I1
`cuam GLIENTIIIE
`cueur
`cusarr cuarr
`'\......................................................._._...._....._..............I
`
`TS 1001
`
`TS 1001
`
`1
`
`

`
`US 7,904,374 B2
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`cial Markets". Apr. 7. 1993; DX 79.
`Terminal Use Manual-—Windows NT Version. Tokyo International
`Financial Futures Exchange (TIFFE). 0."0«'l994. Silvermtu1002552-
`Silv-enna.n0026t6. DTX I226.
`USI’l'O Press Release. “Electronic Patent Application Records
`Replace Paper Files at US1’1'0". DTX 2285. Sep. 19. 2007.
`Memorandum Opinion and Order Re: ‘ I32 and '304 Claim Construc-
`tion [425]. Oct. 31. 2006.
`Memorandum Opinion and Order Re: TT‘s Motion for Clarification
`[475]. Feb. 21. 2007.
`Memorandum Opinion and Order Re: Non-Infringement [708]. Jun.
`20, 2007.
`Memorandtlm Opinion and Order Re: Motions For Reconsidernt ion
`[875], Aug. 27, 2007.
`Memorandum Opinion and Order Re: “Single Action” Ruling [963].
`Sep. 12. 2007.
`Memorandum Opinion and Order Re: Preliminary Injunction [83].
`Feb. 9. 2005.
`Memorandum Opinion and Order Re: eSpeed’s Motion for Summary
`Judgment of Invalidity Denied [845]. Aug. 21. 2007.
`Memorandum Opinion and Order Re: "1”I"s Motion to Prcclude Prior
`Sale Defense Denied [873]. Aug. 27; 2007.
`Memorandum Opinion and Order Re: GI. ’s Motion for Reconsidera-
`tion Denied I994]. Sep. 19. 2007.
`Memorandum Opinion and Order Re: Priority Date [769]. Jul. 12.
`2007.
`Memorandum Opinion and Order Re: Priority Date [l0l3}. Sep. 25.
`2007.
`Memorandum Opinion and Order Re: Prior Public Use [S35]. Aug.
`16. 2007.
`Memorandum Opinion and Order Re: Det'enda.nt‘s Motion for Judg-
`ment as a .V1attcrofLaw on Indcfiniteness [l 141]. Jan. 2. 2008.
`Notification of Docket Entry Re: Defendants eSpeed‘s Motion for
`Judgment as a Matter of Law on Invalidity is denied [1 140]. Jan. 3.
`2008.
`Notification of Docket Entry Re: Defendant eSpeed's Motion for it
`New Trial is denied [1 142]. Jan. 3. 2008.
`Memorandum Opinion a.nd Order Re: Defendant’s Motion for Judg-
`ment as a Matter of Law on Wiilfulness [l 144]; Jan. 3; 2008.
`Deposition testimony ot'I-Iiroyuki Kida dated May 17. 2007 and May
`18. 2007 with DDX 617-624. PDX 519-524 and PDX 531.
`Trial testimony of Hiroyuki Kida dated Sep. 28. 2007 and Oct. 1.
`2007 with DTX 617.
`Deposition testimony of Atsushi Kawashima dated Nov. 21. 2005
`with DDX 178-185.
`Trial testimony ofAtsushi Kawashima dated Sep. 26. 2007 with DTX
`I83.
`
`Deposition testimony of Philip Carre dated Jun. 22.2007. Sep. 6.
`2007 & Sep. 13. 2007 with DDX 384-385: 473;494; 527;537-541:
`592; 593A; 595-598; 605; 626; 629; 719-723; 728-732; 897-898;
`896.
`Deposition testimony of Miehaei Cartier dated May 9. 2007 with
`DDX 587-588; DDX 5.92—593A and PDX 498-500.
`Deposition testimony of Cristina Dobson dated May 18. 2007 with
`DDX 625-635; DDX 637; PDX 533 and PDX 535.
`Deposition testimony of Nicholas C-arrow dated Jun. 14; 2007 with
`DDX I16 and DDX 592.
`Trial testimony of Nicholas Garrow {via expert witness) dated Oct. 2.
`2007.
`
`Deposition testimony of Michael Glista dated Feb. 20. 2007 with
`DDX 382-386.
`Trial testimony of Michael Giista dated Sep. 24; 2007 and Sep. 25,
`2007 with DTX 382-386; DTX 524; DTX 570', DTX 579; DTX 592;
`DTX 3020; DTX 3050; DTX 3057; DTX 3110; PTX 1993; PTX
`2065; PTX 2092; PTX 2094.
`Deposition testimony of Laurent Havard dated Apr. 24-26. 2007.
`May I2. 2007. Jun. 2 l. 2007 and Sep. 5. 2007 with DDX 506: DDX
`508; DDX 517; DDX 539; DDX 551-568; DDX 570-573; DDX 575;
`DDX 603; PDX 462; PDX 464-483; PDX 767-769; PDX 771-774;
`PDX 875-877; PDX 882-888 and PDX 893.
`Trial Testimony of Laurent Iiavard dated Sep. 21. 2007 with [)"1'X
`384; DTX 520; DTX 561-62; DTX 570: DTX 573; DTX 575; DTX
`593; DTX 750-52; DTX 3011; DTX 3017-18; DTX 3050; PTX 575;
`PTX 2064; PTX 2074; PTX 2077; PTX 2079.
`Deposition testimony ot'.lean Cedric Jollant dated Apr. 26. 2007 and
`Jun. 13. 2007 with DDX 384; DDX 517; DDX 520; DDX 551-568;
`DDX 575-577; PDX 465-483.
`Trial testimony ot'Jean Cedric Joliant dated Sep. 20; 2007 with DTX
`157; DTX 473; DTX 719; DTX 551-64; DTX 598; DTX 722; DTX
`I903: DTX 3009-I0; DTX 3014: DTX 3016-I8 DTX 3020; DTX
`3023; DTX 3025; PTX 166; PTX 520; PTX 526; PTX 539; PTX 573;
`PTX 575; PTX 579; PTX 2065.
`Deposition testimony of Marc Lorin dated Sep. 5. 2007 with DDX
`385; DDX 721-722; DDX 730.
`Deposition testimony of Christopher Malo dated May 23. 2007 widt
`DDX 524.
`Deposition testimony oI‘Fred Mastro dated May 21. 2007 with DDX
`638; PDX 538: 1-‘OX 540-543.
`Trial testimony of Fred Mastro dated Sep. 25. 2007 with DTX 592.
`Deposition testimony of William Meilorris dated Apr. 10. 2007 with
`PDX 416-417.
`Deposition testimony of Josephine Sheng dated Jun. 26, 2007 with
`DDX 520; DDX S22; DDX 536; DDX 575; PDX 493; PDX 683-
`68321; PDX 775.
`Deposition testimony oI'Bmno Spada (L1t.eI’.1Apr. 30; 2007 and May 2.
`2007 with DDX 384-385; DDX 519-21; DDX 537-38; ‘DDX 579-
`580; DDX 522: DDX S38; PDX 493-495: PDX 519-522.
`Trial testimony of Bruno Spatia dated Sep. 24. 2007 with DTX 306;
`DTX 384; D"D( 518-522; DTX 524; DTX 575; DTX 579-580; DTX
`593; DTX 626; DTX 628; DTX 646; DTX 1899 DTX 2086; DTX
`3020-3021; DTX 3058-3059; DTX 306 I; DTX 3085; PTX 737:1-‘TX
`840; PTX 2083; PTX 2087; PTX 2099; PTX 2101.
`Deposition testimony of Marcel Tchitchiama dated May 10. 2007-
`May 11.2007 with DDX 156-157; DDX I68; DDX 384-85; DDX
`538; DDX 592-93A; DDX 595-98; DDX 602-06; DDX 608-II;
`DTX 494; PDX 503; PDX 506; PDX 612.
`Deposition testimony ofNeil Treloar dated Jun. 19. 2007 with DDX
`384; DDX 539-39A; DDX 724; DDX 726; PDX 492; PDX 750-752.
`Trial testimony ot'Neil Treloztr dated Sep. 21. 2007 a.nd h. 24. 2007
`with DTX 2040-2042.
`Trial testimony of Gerard Vat-jacques dated Sep. 28. 2007 with PTX
`509-510 and PTX 513.
`
`Deposition testimony o1'Amy Watson dated Jun. 12; 2007 with DDX
`626.4: DDX 700 and PDX 636.
`Deposition testimony of Barbara Watliez dated Jim. 16. 2007 with
`DDX 719-723.
`Trial testimony of Barbara Wattiez dated Sep. 28, 2007 with DTX
`592—593A; DTX 597-598; DTX 718-719; DTX 722.
`Deposition testimony of Christopher Buist dated Jun. 22; 2006 with
`PDX 358-364 and DDX 283-284.
`
`4
`
`

`
`US 7,904,374 B2
`Page 5
`
`Deposition testimony ot'Walter Buist dated Jun. 23. 2006 with DDX
`315; PDX 310-315; PDX 365 and PDX 368-370.
`Digital trading facility weekly operations meeting outline. DX 444.
`DTX 444. CM 006661-CM 006661. May [0, 1999.
`Chart re DSM QA Test i’la.il1—projec£ plan in progress. DX 432.
`DTX 432. Nov. 4, 1998.
`User interface design specification for WIT capital digital stock mar-
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`Updated negotiations design to E. Lang from C. Mauro for review
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`Notes re final additionstrevisions. DX 43 5. CM 002949-CNI 007955.
`DTX 435. Jan. 2, 1999.
`Position paper: On —line training and customer acquisition; WIT Capi-
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`DTX 436. (‘M 006580-CM 006590. Feb. 22. 1999.
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`1 1. I998.
`Presentation re WIT Capital Digital stock martket Phase I usability
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`WIT Capital limit order book to I.. Forrest from C. Mauro. DX 425.
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`User Interface Design for display options design. DX 426. CM
`000249-CM 000287. DTX 426. Jul. 8, I998.
`l..etter from EPO to TT Re: Five Recently Filed Ettropean Patent
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`Notice of Opposition to a European Patent EP l3l92ll Bl. Anitra
`Medienprojekte Gmbl-I. Jan. 13. 2006.
`Notice of Opposition to a European Patent by Deutsche Borse AG.
`Jan. 12, 2006.
`Notice ol‘Opposition to a European Patent by Eceoware I.td.. Jan. I3.
`2006.
`Notice of Opposition to a European Patent by Rosenthal Collins
`Group LLC. Jan. 12.2006.
`Notice of Opposition to a European Patent by Tick-ll GmBh. Jan. I3.
`2006.
`Declaration of Walter Buist. Exhibit 17. Apr. 26. 200?; with Faxed
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`
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`
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`LlI"l-'E’s New Electronic Trading Platform for Futures. LII"-‘I-"E 202-
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`TIFFE Internet Article. "New On-Screen Trading Terminals”. E2.
`System for Buying and Selling Futures and Options Transztction
`Terminal Operational Guidlines. TSE Business Systems Dept.
`TSE0064'.l'-810, eS06229T 7-eS062366, D1 (2 ).
`ORC Instructions for Use. Version 2.2.8.. 1999.
`Fut1.I res.-’Optio us Trading System Guidiines forOperat ing the Trading
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`German Document from Tick-IT Gmbi-I Filing New European Oppo-
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`Faxed copy of German Document from Tick-[T GmbH Filing New
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`
`5
`
`

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`
`6
`
`

`
`U.S. Patent
`
`Mar. 3, 2011
`
`Sheet] of6
`
`US 7,904,374 B2
`
`FIG. 1
`
`_
`CONNECTION T0 MULTIPLE EXCHANGES
`
`HOST EXCHANGE
`HOST EXCHANGE
`1°‘ ....-£°.‘.‘.:£”.‘§3.'.L.‘