12/22/2003
The Exchange has agreed to pay eSpeed $8 million over a three-year period. As part of the settlement, both companies have agreed to release each other from all legal claims brought against the other without admitting any liability.
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| Notice to Members |
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| Notice No. 475 12/22/2003 |
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| Exchange and eSpeed Settle Wagner Patent Suit |
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| The New York Mercantile Exchange, Inc., today announced that it has reached a settlement agreement resolving litigation with eSpeed, Inc., a subsidiary of Cantor Fitzgerald, over the Wagner patent on automated trading systems.
The Exchange has agreed to pay eSpeed $8 million over a three-year period. As part of the settlement, both companies have agreed to release each other from all legal claims brought against the other without admitting any liability. |
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| Should you have any questions or require any further information, please contact exchangeinfo@nymex.com |