OANDA and GAIN Capital are currently in the midst of a patent infringement lawsuit, which is taking place in the New Jersey District Court. Both companies are still negotiating the details concerning the deposition of a key individual connected to GAIN. This negotiation has not yet resulted in an agreement regarding the extent of the deposition.
As part of the lawsuit proceedings, GAIN is scheduled for a second day of deposition for a separate witness, Dr. Michael Stumm, on July 29, 2025. Concurrently, OANDA plans to conduct a second day of deposition for the former CEO of GAIN on August 7, 2025. Despite these scheduled dates, discussions about the content and parameters of the depositions are ongoing and unresolved.
The individual in question played a significant role in the establishment and growth of GAIN Capital, leading efforts that allowed retail traders to access various financial products. With over three decades of experience in financial markets, particularly in foreign exchange (Forex) products, this former CEO previously held prominent positions in several major financial institutions prior to founding GAIN.
Conflict between OANDA and GAIN has been prevalent throughout the litigation process, with disagreements arising on various matters related to depositions. A recent dispute focused on the request for a deposition involving a former CEO of another company within the same industry.
The lawsuit initiated by OANDA Corporation alleges that both GAIN Capital Holdings, Inc. and GAIN Capital Group, LLC infringed upon two specific U.S. Patents, which detail systems and methods for trading currencies over digital networks.
The first patent contains comprehensive descriptions of the components necessary for a currency trading system, including essential infrastructure like servers, databases, transaction handling, and various managerial systems. It also outlines the software elements involved in facilitating such trading activities.
Similarly, the second patent mirroring the first discusses the structural and functional components essential for trading currencies through an online framework, highlighting the technological innovations necessary for executing such trades effectively.
The ongoing discussions and legal proceedings underscore the complexities and challenges within the competitive landscape of the Forex trading market, particularly concerning protecting intellectual property rights. The outcomes of these depositions and the resulting legal interpretations will likely have significant implications not only for the parties involved but for the broader industry as well.