Nasdaq Options Trading Patents Challenged by Rival MIAX Exchange
- Patents cover routing security orders, financial price quotes
- Nasdaq is embroiled in patent lawsuits with MIAX and IEX
Pedestrians are reflected in the window of the Nasdaq MarketSite in New York.
Photographer: Victor J. Blue/Bloomberg
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Nasdaq Inc. is trying to claim that it invented the concept of options trading, rival Miami International Holdings Inc. said in a series of petitions seeking to have seven of Nasdaq’s patents canceled.
Miami International, the parent company for fully electronic options trading exchanges known as MIAX, says in filings with the U.S. Patent and Trademark Office that the ideas that Nasdaq patented between 2003 and 2013 aren’t eligible for such protection. It’s asking the agency’s Patent Trial and Appeal Board to invalidate the patents.