GAIN Capital Seeks Witness in OANDA Patent Case

GAIN Capital is moving ahead with its legal fight against OANDA, highlighting how the OANDA patent case witness could play a key role in challenging the validity of two patents at the heart of the dispute. On April 29, 2025, GAIN filed a letter with the New Jersey District Court requesting approval to subpoena Mr. Ken Ford, a former FX trader believed to possess key knowledge about a trading platform known as PrimeTrade FX. 

GAIN argues that Credit Suisse developed PrimeTrade FX, which qualifies as prior art and predates the patents OANDA claims GAIN infringed. This dispute began when OANDA filed suit on May 11, 2020, alleging that GAIN infringed U.S. Patent No. 7,146,336 and U.S. Patent No. 8,392,311. These patents describe systems for trading foreign currency by aggregating rates, calculating exchange values, and executing trades based on user-defined parameters. 

GAIN Capital Seeks Witness in OANDA Patent Case

GAIN contends that PrimeTrade FX carried out similar functions and entered public use over two decades ago, predating the asserted patents’ priority date of March 8, 2001. GAIN’s outside counsel previously issued subpoenas to Credit Suisse for documents and depositions regarding PrimeTrade FX. However, Credit Suisse disclosed that it held only limited documentation due to the passage of time and changes in ownership. 

Furthermore, the bank failed to identify any individuals involved in developing or operating the system, which prompted GAIN to conduct independent research. Through this effort, GAIN discovered Mr. Ford, who reportedly used PrimeTrade FX in his role at Credit Suisse before 2001. GAIN emphasized in its filing that “Mr. Ford likely has relevant information through his use of the PrimeTrade FX product,” adding that “his testimony could play a significant role in establishing the system as prior art.” 

The company further stated that it “acted diligently in discovering Mr. Ford’s relevance and promptly sought the Court’s permission to proceed with the subpoena.” The lawsuit revolves around whether OANDA’s patents are valid or should be invalidated due to prior art. Since the patents are related and share a common technical foundation, proving the existence of an earlier, similar system like PrimeTrade FX could be decisive. GAIN continues to pursue this line of defense, arguing that it has uncovered strong evidence to support its position and has made every effort to uncover relevant facts.

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