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Nasdaq withdraws part of patent infringement claim against Miami exchange

Nasdaq Inc. voluntarily withdrew and dismissed with prejudice a portion of its claims against MIAX Options and MIAX Pearl exchanges over alleged infringement of Nasdaq's patents.

The withdrawn claim was related to systems and methods for quoting securities.

Three other Nasdaq patents are now under review by the Patent Trial and Appeal Board, which MIAX parent company Miami International Holdings Inc. had asked to review the patents. In granting Miami International Holdings' request, the board found that it is more likely than not that the claims of the three patents are unpatentable under current law, MIAX said.

Nasdaq brought the suit against the Miami exchanges in September 2017. The company said that its former employees stole proprietary information and brought it to MIAX when they were hired there.