Realtime Data Offers Covenant Not to Sue through ICAP Patent Brokerage
The Covenant Covers Patents Related to Data Compression and the "FIX Adapted for Streaming" (FAST) Protocol, an Industry Standard Used by Options, Futures, and Equity Exchanges
CHICAGO, Aug. 24, 2011 /PRNewswire/ -- ICAP Patent Brokerage, a division of ICAP plc and the world's largest intellectual property and patent auction firm, today announced that it will offer a Covenant Not to Sue (CNS) from Realtime Data ("Realtime") at its upcoming CNS Auction September 27th in Los Angeles. The CNS covers Realtime's growing patent portfolio of thirty-five patents and pending patent applications protecting numerous compression technologies developed by Realtime, including the compression technologies adopted by the financial industry for use in the FIX Adapted for Streaming (FAST) protocol. Realtime's compression technologies enable real time, low-latency transmission and reception of financial market data essential to trading futures, equities and options on exchanges around the world. Realtime's patented compression technologies greatly reduce bandwidth and infrastructure costs and increase trading revenues and profits.
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Realtime is currently engaged in patent litigation with a number of major banks, exchanges, and market data providers, as follows:
BATS Trading Bloomberg CME Group Credit Suisse Goldman Sachs BNY Convergex HSBC Bank Penson / Nexa FactSet Interactive Data Boston Option Exchange (BOX) | International Securities Exchange (ISE) NASDAQ OMX NYSE Euronext Southwest Securities (SWS) Thomson Reuters Morgan Stanley JP Morgan Chase Chicago Board Options Exchange (CBOE) Options Price Reporting Authority (OPRA) Securities Industry Automation Corporation (SIAC) | |
The following patents are asserted in the litigations—U.S. Patent Nos. 6,624,761; 7,161,506; 7,400,274; 7,417,568; 7,714,747; 7,777,651. Realtime reported that the validity of many of the claims in these patents was recently confirmed by the United States Patent Office in ongoing patent reexamination proceedings, including confirmation of nearly all claims—more than one hundred patents claims were confirmed—in the '651 patent. According to Realtime, the Patent Office considered and rejected numerous alleged "Substantial New Questions of Patentability" containing thousands of proposed rejections advanced by counsel for the defendants, confirming the scope and validity of Realtime's patented inventions.
A CNS is an agreement that prevents assertion of a party's right to litigation. A company entering into a CNS with respect to the Realtime patents would gain the freedom to operate under the Realtime patents, and would avoid the uncertainty inherent in patent infringement litigation.
"Realtime's participation in our CNS auction further validates this new medium of alternative dispute resolution. By granting all interested parties an opportunity to make an anonymous market bid to resolve their differences, the CNS program truly levels the IP litigation playing field," commented ICAP Patent Brokerage's Senior Vice President Kevin Fiur.
Starting today, ICAP Patent Brokerage will accept anonymous bids on the Realtime CNS. To learn more about the assets available or to place a bid, contact Kevin Fiur at [email protected] or (512) 505-2308.
About ICAP Patent Brokerage
ICAP Patent Brokerage is a division of ICAP plc and the world's largest intellectual property brokerage and patent auction firm.
About Realtime Data
Realtime Data, founded in 1998, is a pioneer in the field of data compression and storage and develops hardware and software solutions for data compression, storage and networking markets worldwide. Realtime Data has offices in Armonk, New York and Tyler, Texas.
SOURCE ICAP Patent Brokerage
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