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Trading Technologies International, Inc. v. IBG LLC

United States Court of Appeals, Federal Circuit

April 30, 2019

TRADING TECHNOLOGIES INTERNATIONAL, INC., Appellant
v.
IBG LLC, INTERACTIVE BROKERS LLC, Appellees UNITED STATES, Intervenor

          Appeal from the United States Patent and Trademark Office, Patent Trial and Appeal Board in Nos. CBM2015-00172, CBM2016-00040.

          Jennifer Kurcz, Baker & Hostetler LLP, Chicago, IL, argued for appellant. Also represented by Leif R. Sigmond, Jr., Michael David Gannon; Alaina J. Lakawicz, Philadelphia, PA; Cole Bradley Richter, McDonnell, Boehnen, Hulbert & Berghoff, LLP, Chicago, IL; Steven Borsand, Jay Quentin Knobloch, Trading Technologies International, Inc., Chicago, IL.

          Richard M. Bemben, Sterne Kessler Goldstein & Fox, PLLC, Washington, DC, argued for appellees. Also represented by Robert Evan Sokohl; Michael T. Rosato, Wilson, Sonsini, Goodrich & Rosati, PC, Seattle, WA.

          Katherine Twomey Allen, Appellate Staff, Civil Division, United States Department of Justice, Washington, DC, argued for intervenor. Also represented by Mark R. Freeman, Scott R. McIntosh, Joseph H. Hunt; Thomas W. Krause, Joseph Matal, Farheena Yasmeen Rasheed, Office of the Solicitor, United States Patent and Trademark Office, Alexandria, VA.

          Before Moore, Clevenger, and Wallach, Circuit Judges.

          MOORE, CIRCUIT JUDGE.

         Trading Technologies International, Inc., ("TT") appeals a decision of the Patent Trial and Appeal Board holding claims 1-22 of U.S. Patent No. 7, 783, 556 ineligible under 35 U.S.C. § 101. Because we agree that the patent is a covered business method patent and the claims are ineligible, we affirm.

         Background

         TT is the owner of the '556 patent, which "relates to displaying market information on a screen." '556 patent at 1:7-9. The specification states that the invention works "particularly well" with the trading screen shown in Figure 2. Id. at 3:8-11. Figure 2 is a prior art trading screen disclosed in U.S. Patent No. 6, 772, 132, which displays bids and offers in association with price values along an axis. Id. at 2:9-14, 3:12-16, Fig. 2. According to the specification, "traders are often interested in analyzing other pieces of highly relevant information that are not normally provided in an electronic exchange's data feed nor displayed by a trading screen." Id. at 2:18-22. Traders may "make quick mental calculations, use charting software, or look to other sources to provide additional insight beyond what is normally provided." Id. at 2:22-25.

         The specification discloses "generating values that are derivatives of price and then displaying these values along an axis on a screen." Id. at 3:22-25. The claims focus on a particular price derivative, profit and loss ("P&L"). The specification acknowledges that "there are numerous ways to calculate P&L and one of ordinary skill in the art would recognize the many different possibilities." Id. at 13:61- 63. Claim 1 recites:

1. A method for displaying market information on a graphical user interface, the method comprising:
receiving by a computing device a current highest bid price and a current lowest ask price for a tradeable object from an electronic exchange;
identifying by the computing device a long or short position taken by a user with respect to the tradeable object, wherein the long position is associated with a quantity of the tradeable object that has been bought by the user at a price, and wherein the short position is associated with a quantity of the tradeable object that has been sold by the user at a price;
computing by the computing device a plurality of values based on the long or short position, wherein each of the plurality of values represents a profit or loss if the long or short position is closed at a price level among ...

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