The Chicago Board Options Exchange, Incorporated® (CBOE®) announced today the United States Court of Appeals for the Federal Circuit ruled in its favor in a seven-year-old patent litigation with the International Securities Exchange (ISE), in which ISE claimed that CBOE's Hybrid system infringed ISE's patent for an automated exchange.
"CBOE is pleased that the Court has concluded what we always knew to be true - CBOE does not infringe ISE's asserted patent. Our unique Hybrid trading system, which combines the best features of electronic and open outcry trading, is just one of the many innovations that have made CBOE the leader in the options industry," said CBOE Holdings CEO Edward T. Tilly.
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