I'm conflicted on whether or not a patent should have been granted. I've worked in equity execution for about a decade and do feel that this is novel.
On the other hand, this is a clear case of using the patent system to secure and persist an inefficiency in the market. It's hard to measure the cost of such an inefficiency to institutional investors (mutual funds, pensions, endowments, etc) but I suspect that it is well into the billions annually.
On the other hand, this is a clear case of using the patent system to secure and persist an inefficiency in the market. It's hard to measure the cost of such an inefficiency to institutional investors (mutual funds, pensions, endowments, etc) but I suspect that it is well into the billions annually.