New NPE Files Six Suits against Trading System Providers
- June 25, 2012
Markets-Alert [NPE] filed six separate suits against Bloomberg, Charles Schwab, esignal.com, E*Trade, Interactive Brokers Corp., Interactive Data Corp., LightSpeed, optionMonster, OptionsXpress, Recognia, TD Ameritrade and Trade Monster, alleging that the defendants’ real-time stock trading platforms infringe a patent related a trading system that enables a user to receive alerts based on inputs from the user. These are the first patent infringement suits initiated by Markets-Alert. The patent-in-suit issued in 2011 and is based on a PCT application filed in 2002. The patent has a single independent claim that includes the limitation for “real-time notification directed to a remote communications device of the user so that the user can then provide instructions for share market transactions on an instantaneous basis.” According to the company’s website, Markets-Alert is a privately-held, Australian company focused on monetizing patents related to fraud detection (CAPS) and real-time financial analysis (RTA) technologies. Jeffrey Bruce McGeorge is the named inventor on the patent-in-suit, which was directly assigned to Share-Tech Software Pty in March 2001. Share-Tech Software Pty assigned its interest to Markets-Alert in June 2004. 6/20, District of Delaware, no judge yet assigned, 1:2012cv00780, 1:2012cv00781, 1:2012cv00782, 1:2012cv00783, 1:2012cv00784, 1:2012cv00785.