Shortly after the New Jersey District Court partially trimmed OANDA’s patent infringement claims against GAIN Capital, which is now owned by StoneX Group, OANDA has filed an amended complaint with the Court.

The document, seen by FX News Group, was submitted at the Court on April 19, 2021.

OANDA Corporation alleges patent infringement by GAIN Capital Holdings, Inc. and GAIN Capital Group, LLC (dba FOREX.com) of two patents: ‘336 and ‘311.

The ʼ336 Patent teaches, among other things:

In one aspect, the present invention comprises a system for trading currencies over a computer network. A preferred embodiment comprises: (a) a server front-end; (b) at least one database; (c) a transaction server; (d) a rate server; (e) a pricing engine; (f) an interest rate manager; (g) a trade manager; (h) a value at risk server; (i) a margin control manager; (j) a trading system monitor; and (k) a hedging engine. In another aspect, the present invention comprises methods for trading currency over a computer network. In another aspect, the present invention comprises software for currency trading over a computer network.

The ’311 Patent teaches, among other things:

In one aspect, the present invention comprises a system for trading currencies over a computer network. A preferred embodiment comprises: (a) a server front-end; (b) at least one database; (c) a transaction server; (d) a rate server; (e) a pricing engine; (f) an interest rate manager; (g) a trade manager; (h) a value at risk server; (i) a margin control manager; (j) a trading system monitor; and (k) a hedging engine. In another aspect, the present invention comprises methods for trading currency over a computer network. In another aspect, the present invention comprises software for currency trading over a computer network.

Let’s note that the differences between the original complaint and the amended one appear to concern mostly the detailed description of what the two patents cover. There are barely any additional explanations regarding how exactly Forex.com allegedly infringed the patents.

OANDA claims that “GAIN Capital Holdings, Inc. uses GAIN Capital Group, LLC’s platform, including the APIs, to operate automated infringing trading systems”.

The plaintiff says that the defendants have infringed one or more claims of the ʼ336 Patent by making, using, selling, offering for sale, or selling products and/or services that meet each of the limitations of one or more claims of the ʼ336 Patent. According to OANDA, “GAIN Capital Group, LLC has made, used, sold, and offered for sale infringing instrumentalities at https://forex.com, and GAIN Capital Holdings, Inc. has used those infringing instrumentalities, including the application programming interfaces (“APIs”), to operate automated infringing trading systems”.

Similar allegations are made regarding the ʼ311 Patent. OANDA says that the “defendants have infringed one or more claims of the ʼ311 Patent by making, using, selling, offering for sale, or selling products and/or services that meet each of the limitations of one or more claims of the ʼ311 Patent”.

In addition, OANDA claims that the defendants continue to use subcontractors, managers, agents, or other third parties to operate or assist in the management of its online trading systems, or to provide additional services in connection with its services, including by use of its platform’s APIs. “These subcontractors or other third parties infringe one or more of the claims of the patent in suit”, OANDA says.

In this action, OANDA seeks, inter alia:

  • an award of damages pursuant to 35 U.S.C. §284 sufficient to compensate Plaintiff for Defendants’ past infringements, and any continuing or future infringement, up until the date that Plaintiff’s patent expires;
  • a determination of a reasonable royalty for any future infringement by Defendants, and an Order directing Defendants to pay such royalty on future infringement.