08 February 2016

Cboe claims victory in ISE patent suit; ISE vows to fight on

15 March 2013  |  1394 views  |  0 Source: Chicago Board Options Exchange

The Chicago Board Options Exchange (Cboe) announced today that the federal court in Chicago ended the trial on the International Securities Exchange's (ISE) patent suit.

ISE had sued CBOE for alleged infringement of ISE's patent relating to an "automated exchange." By its action, ISE now concedes that CBOE does not infringe ISE's patent, based on several recent decisions in CBOE's favor.

"We are gratified that this case has reached the correct result," said CBOE Chairman and CEO William J. Brodsky. Incoming CBOE CEO and current COO and President Ed Tilly added, "CBOE has always been and will continue to be the leading innovator in the options industry." 

ISE statement:

In the case of International Securities Exchange, LLC (ISE) v. Chicago Board Options Exchange, Inc. (CBOE), case no. 07C623, presiding Judge Joan H. Lefkow has issued a series of pre-trial rulings in CBOE's favor, thus forcing ISE to cease pursuit of the case in the United State District Court, Northern District of Illinois, at the present time.

ISE strongly believes in the merits of its case that CBOE copied and continues to infringe ISE's patented trading technology, and ISE plans to immediately file an appeal to the Federal Circuit to reverse these rulings. ISE will have no further comment at this time. 

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related company news

 

Top topics

Most viewed Most shared
Fintech rising: Resistance is futile, says...
10964 views comments | 48 tweets | 41 linkedin
Digital transformation driving earnings at...
9258 views comments | 45 tweets | 36 linkedin
ECB eyes up European P2P payments
7765 views comments | 28 tweets | 38 linkedin
Visa opens up to developers
7584 views comments | 23 tweets | 40 linkedin
It may take ten years, but blockchain tech...
6397 views comments | 20 tweets | 19 linkedin

Featured job

Find your next job