Industry relieved over CLS Supreme Court win
Settlement service defeats Alice Corp over technology patent
Industry participants have responded to CLS's Supreme Court victory over 'patent troll' Alice Corporation last week with a sigh of relief, after fears a defeat could have resulted in severe market disruption.
"This case had enormous ramifications for the entire financial ecosystem. CLS is a systemically important utility, which is critical to the safe functioning of markets," says Marshall Bailey, president of the Financial Markets Association (ACI). "An adverse decision would have had a major
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