Espeed Boosts Intellectual Property Portfolio Purchase with Lawrence Patent

NEW YORK--Espeed has stepped up its efforts to gain a competitive edge through the acquisition of intellectual property. Most recently, it has purchased the Lawrence Patent, which protects the electronic bid-wanted auction model used by Espeed and several of its competitors for trading municipal bonds and other illiquid instruments online.

The purchase of the Lawrence patent follows Espeed’s acquisition of the Wagner patent (TTW, May 7), which covers the use of an auction model for the online