St. Louis, Paris – March 13, 2023 – Exegy, Inc., the global leader in low-latency market data and execution solutions, predictive trading signals, and hardware-acceleration technology, and NovaSparks, Inc., a leading provider of pure FPGA ultra-low latency trading solutions for financial markets, today announced settlement of their intellectual property dispute. Under the license and settlement agreement, sales of NovaSparks products and services incorporating Exegy technology will be subject to a 9% royalty.
The lawsuit Exegy filed against NovaSparks in the United States District Court for Massachusetts asserting patent infringement of ten patents will be dismissed. Associated lawsuits filed by NovaSparks in the United States District Court for the District of Massachusetts and the United States District Court of the District of Delaware also will be dismissed. Neither party has admitted any liability.
Exegy has produced over 150 granted patents worldwide, as well as other intellectual property covering high-performance data processing technology. The law entitles patent holders to fair compensation for using their protected technologies and Exegy remains committed to defending its intellectual property assets. “Our expansive intellectual property portfolio is the result of our relentless commitment to innovation and sustained investment of capital for more than 20 years. This proven expertise enables us to deliver invaluable products and services to our clients and has driven significant advancement in the capital markets ecosystem,” said David Taylor, chief executive officer of Exegy.
“Reaching a swift and acceptable settlement deal between Exegy and NovaSparks is a great outcome for both parties. We can now fully focus on further developing and enhancing our cutting edge technology products again and continue to offer the most innovative pure FPGA products with the high performance features that traders desire,” said Luc Burgun, president and chief executive officer of NovaSparks.
About Exegy, Inc.
Exegy provides global market data and execution solutions, predictive trading signals, and hardware trading platforms to elite firms in the financial services industry. Today Exegy serves as a strategic partner to leading principal traders, agency brokers, Alternative Trading System (ATS) and dark pool operators, market makers, hedge funds, and asset managers. At the heart of Exegy solutions are purpose-built, hardware-accelerated appliances derived from an extensive portfolio of patented and patent-pending technology. For more information, please visit www.exegy.com and follow Exegy on LinkedIn and Twitter.
About NovaSparks, Inc.
NovaSparks is the leader in FPGA-based high performance and ultra-low latency trading solutions for financial markets. NovaTick™, its flagship Ticker Plant product, supports 70 feeds across the major Equities, Futures and Options trading venues in North America, Europe and Asia and is packaged in scalable easy-to-deploy appliances or in tightly coupled PCIe cards. NovaSparks FPGA approach delivers normalized market data, including book building and consolidation in less than one micro-second, even during market peaks period. This level of performance is extended to the whole trading cycle with the NovaSparks pure FPGA Tick-to-Trade solutions or can be leveraged for custom projects through the NovaSparks open FPGA trading development platform. NovaSparks is headquartered in Paris (France) and has offices in Nantes (France) and New York City (USA).