CBOE Touts End Of Litigation With ISE

February 24, 2014

In late January, S&P Dow Jones Indices and the Chicago Board Options Exchange announced in a press release an end to the long-running litigation with the International Securities Exchange, a U.S.-based subsidiary of Deutsche Borse.

In 2006, the ISE had sought to launch options on the S&P 500 Index and the Dow Jones industrial average, despite the fact that the CBOE had exclusive licensing agreements with S&P and Dow Jones Indexes—which had not yet merged—that gave it the sole right to list options based on the benchmarks. Both sides in the dispute ended up filing legal actions against each other, but it appears the situation has finally been resolved.

On Dec. 18, in U.S. district court, the ISE lost its case to the defendants when the judge ruled against the exchange. The deadline for an appeal passed in late January without any filings from the ISE, leaving the CBOE and S&P DJI with their licensing agreement intact.


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