OANDA and GAIN Capital have not yet reached an agreement on the scope of the deposition of Glenn Stevens, the former GAIN CEO, as the patent infringement lawsuit brought by OANDA continues at the New Jersey District Court.

The brokers haved agreed to GAIN taking a second day of deposition of Dr. Michael Stumm on July 29, 2025, and OANDA taking a second day of deposition of Glenn Stevens on August 7, 2025. However, the parties have still to agree on the scope of the respective depositions.

Glenn Stevens was a founder and Chief Executive Officer of GAIN for over twenty years, building a business offering retail traders the ability to trade various financial products. Mr. Stevens has over thirty-five years experience in financial markets focusing on Forex products. Prior to GAIN, he held various senior roles for large financial institutions including NatWest Bank, Bank of America (Merrill Lynch) and Bankers Trust.

GAIN and OANDA have had disagreements regarding depositions in the patent lawsuit. The most recent example of such a conflict concerns the requested deposition of former CEO of ActForex Ilya Sorokin.

Plaintiff OANDA Corporation sued GAIN Capital Holdings, Inc. and GAIN Capital Group, LLC for alleged infringement of two United States Patents directed to trading currencies over a computer network.

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.