Opinion ID: 210724
Heading Depth: 3
Heading Rank: 3

Heading: The Super System/CFTS2.0

Text: 9 In the late 1980's Cantor began looking to replace its decade-old trade capture system with a new system. Between 1987 and 1992, programmers and software developers at Cantor wrote software code that would later become known internally as the Super System or the Cantor Fitzgerald Trading System (CFTS) 2.0. The district court found that the Super System would provide a platform to support both automated trading and traditional outcry trading [using trade capture]. eSpeed, Inc. v. BrokerTec USA, L.L.C. (Unenforceability Ruling ), 417 F.Supp.2d 580, 586 (D.Del.2006). The Super System included software code for various trading states including a workup state. 1 The Super System also included code that allowed brokers to use either the old rules or the new rules. 2 10 As early as 1993, the Super System was used in Cantor trading rooms to conduct trades. Id. at 588. After using the Super System in 1993, Cantor determined that the system was too slow to be commercially used as an automated trading system and used it solely as an order entry system, to support open outcry trading. Id. The Super System was used as a trade capture system in Cantor's trading rooms between 1993 and 1995 to transact billions of dollars worth of trades.