OANDA Corporation is Suing StoneX Group Inc. for Alleged Patent Infringement
OANDA Corporation is suing StoneX Group Inc (NASDAQ:SNEX) over alleged patent infringement. OANDA’s complaint, seen by FX News Group, was filed at the Illinois Northern District Court.
The patents at the core of this legal dispute are U.S. Patents Nos. 7,356,504 (the ʼ504 Patent), 7,702,548 (the ’548 Patent), and 7,742,959 (the ʼ959 Patent). OANDA is the owner of these three patents.
The ʼ504 Patent teaches, among other things:
A preferred embodiment comprises a method for determining value-at-risk based on tick-by-tick financial data. Major steps of the method comprise the following: (1) financial market transaction data is electronically received by a computer; (2) the received financial market transaction data is electronically; (3) a time series z is constructed that models the received financial market transaction data; (4) an exponential moving average operator is constructed; (5) an operator is constructed that is based on the exponential moving average operator; (6) a causal operator Ω[z] is constructed that is based on the iterated exponential moving average operator; (7) values of predictive factors are calculated; (8) the values calculated by the computer are stored in a computer readable medium, and (9) value-at-risk is calculated from the values stored in step (8).
