eSpeed, Nymex Settle Wagner Suit
CONNECTIVITY
NEW YORK--eSpeed has settled its suit against the New York Mercantile Exchange (Nymex) in which eSpeed alleged that Nymex violated eSpeed’s Wagner patent on automated futures trading systems.
According to the settlement, announced late last month, eSpeed will earn $8 million over three years, beginning with a payment of $2 million by the end of 2003, and $2 million payable per year until 2006. The payments will go to eSpeed’s Software Solutions business, which has collected most of its revenue
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