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ELECTRON TRADING, LLC v. MORGAN STANLEY & CO. LLC

4858, 651370/15.

157 A.D.3d 579 (2018)

69 N.Y.S.3d 633

2018 NY Slip Op 00380

ELECTRON TRADING, LLC, Appellant, v. MORGAN STANLEY & CO. LLC, Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided January 23, 2018.

Plaintiff, a developer of intellectual property relating to "spread" trading, a type of electronic securities trading, entered into two agreements with defendant: an Exclusive License Agreement (ELA) whereby it granted defendant an exclusive license for its alternative trading system (ATS) and a Consulting Services Agreement (CSA) whereby it agreed to perform related consulting services. The ELA required defendant to use commercially reasonable efforts to develop and implement...

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