PTAB

IPR2024-00375

Askeladden L.L.C. v. Intercurrency Software LLC

Title: Method and Apparatus for Displaying Trading Assets in a Preferred Currency
Brief Description: The ’863 patent describes a method for executing financial trades using a three-tier architecture. It enables a trader to view and transact assets in a "preferred currency" (e.g., their domestic currency) that is different from the asset's "market currency" by performing a real-time currency conversion at the transactional level.

Prior Art Relied Upon: Calo (Application # 2002/0087454), Rude (Application # 2006/0095361), and Sellberg (Application # 2004/0236664).
Core Argument for this Ground:
- Prior Art Mapping: Petitioner argued that Calo and Rude, both of which describe systems for cross-border securities trading, collectively teach the foundational elements of the challenged claims. This includes a three-tier architecture coupling trading, market, and currency exchange servers; receiving a trader’s preferred currency; and displaying asset prices converted into that currency. Petitioner asserted that Sellberg supplements these disclosures by explicitly teaching the use of a "prevailing exchange rate" taken "just prior to the submitting the order" to perform the transaction, directly corresponding to the ’863 patent's method of preventing uncertainty from exchange rate fluctuations.
- Motivation to Combine: A POSITA would combine the base trading platforms of Calo and Rude with Sellberg's specific teaching on using a contemporaneous exchange rate. This combination represented a simple and predictable solution to the well-known problem of exchange rate risk in international transactions.
- Expectation of Success: A POSITA would have a reasonable expectation of success in integrating Sellberg’s rate-locking feature into the established trading frameworks of Calo and Rude, as it was a combination of familiar elements to achieve a predictable result.

Prior Art Relied Upon: Calo (Application # 2002/0087454), Rude (Application # 2006/0095361), and Szoc (Application # 2002/0023053).
Core Argument for this Ground:
- Prior Art Mapping: This ground presented Szoc as an alternative to Sellberg for teaching the "prevailing exchange rate" limitation. Petitioner maintained that Calo and Rude provided the core trading system architecture. Szoc was cited for its disclosure of a system that provides real-time, constantly-changing foreign exchange quotes that can be "locked in" for a transaction. Szoc further taught executing limit or standing orders only when a specific, desired exchange rate is achieved, thereby linking the transaction execution to a prevailing rate.
- Motivation to Combine: The motivation was identical to Ground 1. A POSITA seeking to improve the functionality of the Calo and Rude systems would have been motivated to incorporate the real-time rate-locking and conditional execution features of Szoc to mitigate currency risk, a known objective in the field.

Prior Art Relied Upon: The combination from Ground 1 or 2, plus Davidwitz (Application # 2004/0267655).
Core Argument for this Ground:
- Prior Art Mapping: Petitioner argued that dependent claims 11 and 12 add limitations related to monitoring market conditions and executing a trade only when certain conditions are met. The base combination (Calo/Rude + Sellberg/Szoc) taught the core transactional system. Davidwitz was introduced for its disclosure of an automated system that "continuously monitor[s] the various markets and automatically execute[s] transactions based upon the realization of specific conditions chosen by the investor," including revaluing securities into a single currency.
- Motivation to Combine: A POSITA would combine Davidwitz’s automated monitoring and conditional execution logic with the underlying cross-currency trading platform. This would create a more sophisticated and automated trading system capable of reacting to dynamic market and currency conditions, representing a logical and desirable enhancement.

Prior Art Relied Upon: The combination from Ground 1 or 2, plus Kidea (Application # 2007/0005481).
Core Argument for this Ground:
- Prior Art Mapping: Petitioner contended that claim 5, which recites a transaction involving "first and second portions," addresses the well-known concept of partial order fills. While the base combination taught currency conversion upon execution, Kidea was cited for teaching a GUI that explicitly tracks and displays both historical filled order data and current unfilled order data. This disclosure demonstrated a system designed to handle the separate portions of a partially filled order.
- Motivation to Combine: A POSITA would have found it obvious to apply the currency conversion logic of the base references to the well-understood concept of partial fills. Integrating the tracking and display functionality of a system like Kidea's with the conversion mechanism of the base system would be a common-sense step to ensure accurate accounting for each executed portion of an order.

"prevailing exchange rate": Petitioner proposed this term, recited in claims 1, 4, and 6, should be construed to mean "a selected current exchange rate."
Rationale: Petitioner argued that this construction is compelled by the specification, which only describes using a "forward" rate or a "spot" rate for conversion. Since both are types of current exchange rates selected for a transaction, the construction is necessary and supports the argument that prior art teaching the use of spot or locked-in rates meets this claim limitation.

Petitioner requests the institution of an inter partes review and the cancellation of claims 1-12 of Patent 10,776,863 as unpatentable.