Nasdaq claims Miami International copied its core trading technology. Photo: AFPChicago/Newark, New Jersey: Nasdaq Inc. sued a rival exchange operator, accusing Miami International Holdings Inc. of infringing patents and stealing trade secrets with help from former Nasdaq employees. Nasdaq claims Miami International copied its core trading technology. Miami International operates two options exchanges, MIAX Options and MIAX Pearl, that handle about 6% of the US equity options market. At least five times between August 2010 and January 2011, that person “forwarded to his personal email technical documentation containing Nasdaq trade secrets, as well as other confidential Nasdaq documents including employee salary information,” according to the complaint.

Source: Mint September 02, 2017 07:30 UTC