A pair of electronic trading patents contained “no technological invention” while a third failed to improve computer functions, a federal appeals court said in tossing all three patents.

The U.S. Court of Appeals for the Federal Circuit April 18 invalidated Trading Technologies LLC’s patents on a user interface for electronic trading technology. The Federal Circuit agreed with the Patent Trial and Appeal Board that the patents were ineligible for protection and also upheld the board’s decision to review the patents...