Nyse Euronext is suing Dutch MTF The Order Machine (TOM) for listing options based on the AEX index without a licence.
In January TOM began offering options based on Nyse Euronext's AEX Index for Dutch stocks and now claims 20% of the market.
A Nyse spokesman told the Financial Times that TOM was offered a licence and turned it down although TOM boss Willem Meijer has disputed this.
The companies are now scheduled to have their case head in an Amsterdam court on 3 June.
Earlier this week, Nyse Euronext rival Nasdaq OMX completed the acquisition of a 25% stake in TOM, joining existing investors BinckBanck, Optiver, IMC and ABN Amro.