The 377 and 311 Patent Against GAIN Capital Ignites
OANDA Corporation accused GAIN Capital of patent infringements (US Patent Nos. 7,14,336 and 8,392,311), of 377 and 311 patents, respectively.
The defendants from GAIN Capital Holdings, Inc. and GAIN Capital Group LLC. will ask for a dismissal of the complaint. This will be held in New Jersey before Brian R. Martinotti.
GAIN’s court document urges the court to dismiss the plaintiff for failure to state a claim to grant it.
According to OANDA, they infringed on 336 patent by basically profiting from the patented products and/or services they own. The accusation states that the company infringed on instrumentalities, including the application programming interfaces to operate automated infringing trading systems.
Furthermore, the plaintiff said that the defendants were well-aware of their infringement as early as October 25, 2018. In fact, the Japanese broker had informed GAIN of the 336 and 311 patents. Yet, the firm continued to operate with the third-party infringers to manage its online trading platforms.
About GAIN Capital and OANDA
Founded in 1999, GAIN Capital provides traders with low-cost access to forex markets around the world. The Bedminster, a New Jersey-based company, currently operates in 9 countries worldwide, such as Shanghai, Dubai, Singapore, and Hong Kong.
Other brands under GAIN includes FOREX.com, City Index, and Daniels Trading, who offer a variety of services in the US. Its nine offices are still continuing to expand its team in Poland through these leading brands.
The firm provides 140,000+ retail and institutional investors with access to over-the-counter and exchange-traded markets.
Meanwhile, OANDA is an award-winning global company that first went live in 1997. The forex firm provides free currency exchange information online.
CVC Capital Partners acquired the Delaware-founded firm in 2018, to expand into USD70 billion in assets around the world.
Notably, OANDA was also named Singapore’s number one forex broker for four years until 2017. It also became the largest foreign FX broker in Japan amid the Swiss National Bank crisis.
