The US Supreme Court has rejected further appeals by New York Mercantile Exchange (Nymex) over the use of it’s settlement data by Intercontinental Exchange (ICE). The decision effectively brings an end to the legal battle between the two exchanges on the issue of settlement but the battle lines may have redrawn between the two US exchanges.
Legal proceedings started back in 2002, with Nymex initiating a legal case against ICE following the Atlanta-based exchange use of Nymex’s settlement prices. However, the...