The Chicago Board Options Exchange yesterday (July 8) won its legal battle with the International Securities Exchange to keep the exclusive rights to list its suite of index options.
Judge William Maki in the Circuit Court of Cook County, Illinois, upheld CBOE’s challenge, banning the New York-based options exchange from offering options linked to the Standard & Poor’s 500 Index and the Dow Jones Industrial Average.
He also forbade the Options Clearing Corporation to clear such contracts.
A spokesperson for ISE, owned by Deutsche Börse’s Eurex, said: “We believe this result is incorrect based on the facts and the applicable law in this case, and we will proceed to appeal this decision.”