Nasdaq Sues IEX for Trading, Data Patent Infringements

Nasdaq's lawsuit alleges infringement of a number of patents covering its trading process and certain data elements by IEX.

EU-US data transfer rules declared invalid

The suit alleges that IEX hired four Nasdaq technology staff with knowledge of Nasdaq’s technology and patents, who then used that knowledge to create IEX’s trading platform and closing auction process, which is “substantially similar” to Nasdaq’s own closing auction. The lawsuit also alleges that IEX acknowledges its Auction Information is substantially similar to the Net Imbalance Order Indicator. It also cites IEX statements that the startup created its own processes after reviewing those of

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A tech revolution in an old-school industry: FX

FX is in a state of transition, as asset managers and financial firms explore modernizing their operating processes. But manual processes persist. MillTechFX’s Eric Huttman makes the case for doubling down on new technology and embracing automation to increase operational efficiency in FX.

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