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At Deadline

Traders Magazine, August 2002

Editorial Staff

Patent *Direct access vendor Lava Trading is threatening legal action against competitors over patent infringement. Lava notified direct access firms offering ECN aggregation that their systems violate a patent on its ColorBook front-end. ColorBook made a big splash last year as the first vendor-built trading system to aggregate and provide access to every quote on multiple ECNs. Now used by 11 of the top investment banks, according to Lava, it was patented in August 2001. In the wake of its success, several direct access firms have begun offering similar functionality.

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