Patsystems, TT Quickly Settle Suit
VENDOR UPDATE
LONDON—Patsystems, a U.K. vendor of derivatives trading systems, last week reached a settlement with rival vendor Trading Technologies (TT) in a patent infringement lawsuit filed earlier this month.
The settlement was agreed to only 24-hours after the lawsuit was filed, suggesting that the two sides had been involved in prior discussions. Patsystems’ CEO Kevin Ashby says, "These types of agreements don’t get sorted within 24 hours."
Through the deal, Patsystems officials acknowledge the validity
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