[ M A R K E T
R E V I E W
|
E X C H A N G E S ]
Patents pending
The long-running legal battle between IEX
and Nasdaq over technology patents took
another turn at the end of February, as IEX
filed a claim that two patents held by its
rival were invalid.
IEX has also petitioned patent authori-
ties to have the Nasdaq patents declared
invalid and while two of the claims have
been rejected at the time of writing, one is
to move forward and four are still pending.
Nasdaq initially filed suit against IEX in
March 2018, accusing IEX of copying seven
of its patents related to four exchange
processes representing millions of dollars
of investment.
IEX responded that the lawsuit was
“baseless” and sought a dismissal of the
infringement claims, on the basis that
it failed to identify where or how key
elements of its alleged inventions appear
on IEX’s exchange.
Sophia Lee, General Counsel at IEX, said
at the time: “This lawsuit is just the latest
in a series of baseless attempts by Nas-
daq to stop the march of progress toward
a fairer and more transparent market for
companies, investors, and brokers.”
Issue 59 // TheTradeNews.com // 55