Citadel Securities Hit With Patent Lawsuit From HFT Solutions

Citadel Securities LLC was hit with a lawsuit from HFT Solutions LLC accusing it of infringing three patents with its high frequency trading.

The patents at issue in the case are US Patent Nos. 10,931,286; 11,128,305; and 11,575,381, each of which covers a “field programmable gate array with external phase-locked loop,” according to the complaint filed Dec. 24 in the US District Court for the Northern District of Illinois.

Citadel’s high frequency trading strategies reliant on speed for transactions use instrumentalities that infringe HFT Solutions’ patents, the suit said.

Citadel didn’t immediately respond to a request for ...