OANDA vs. GAIN Capital: Swiss Testimony Sought in High-Stakes Patent Battle

The ongoing patent infringement lawsuit between OANDA Corporation and GAIN Capital has taken a significant step forward as GAIN Capital Holdings, Inc. and GAIN Capital Group, LLC seek international judicial assistance. On February 28, 2025, GAIN filed a request with the New Jersey District Court to issue a letter of request under the Hague Convention, aiming to obtain testimony from Dr. Richard Olsen, a key figure currently residing in Switzerland. Dr. Olsen is a named inventor on the two patents at the center of the dispute, U.S. Patent No. 7,146,336 and U.S. Patent No. 8,392,311.

OANDA has stated that it does not oppose the issuance of the letter, which seeks to gather evidence relevant to GAIN's defense against OANDA's infringement claims. The patents in question relate to electronic currency trading systems, specifically methods for aggregating rates, determining market exchange rates, and executing trades based on predefined parameters. GAIN has emphasized the urgency of the request, noting that Swiss authorities must review and approve the process despite Dr. Olsen's willingness to participate voluntarily.

The case, initially filed by OANDA in May 2020, alleges that GAIN infringed on its patented technologies. The outcome of this evidence-gathering process could play a pivotal role in determining the validity and enforceability of the patents.