The Chicago Board Options Exchange (CBOE) today announced that it has filed a suit in Cook County, Illinois against the International Securities Exchange, LLC (ISE). Joining CBOE as plaintiffs in this lawsuit are The McGraw-Hill Companies, Inc. and its Standard & Poor's Division (S&P) and Dow Jones & Company, Inc. (Dow Jones), which exclusively license CBOE to list and trade options based, respectively, on the S&P 500 Index (SPX options) and the Dow Jones Industrial Average (DJX options).
The CBOE lawsuit seeks a ruling that ISE may not list or trade SPX options or DJX options, because of CBOE's exclusive license rights to those options. On November 2, 2006 ISE sued Dow Jones and S&P in federal court in New York, seeking a declaration that ISE was entitled to trade SPX and DJX options without a license. CBOE has brought its lawsuit in Illinois because it believes that Illinois is the appropriate forum for the resolution of this dispute.
"CBOE initiated this action in order to enforce our contractual rights with our partners, S&P and Dow Jones. Those rights were firmly established by legal precedent set years ago in Illinois," said CBOE Chairman and CEO William J. Brodsky.
CBOE, the largest options marketplace in the U.S. and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, visit the CBOE website at: www.cboe.com.
