CME sues Canadian FX broker over trademark infringement

CME sues Canadian FX broker over trademark infringement

The CME is suing a Canadian foreign exchange broker, accusing it of trademark infringement and cybersquatting relating to the Globex name, according to Crain's Chicago Business.

Globex is the CME's electronic trading system, launched in 1992.

The Exchange's suit centre's on Global Foreign Exchange and the fact it also goes by the name Globex FX. It is accused of trademark infringement, trademark counterfeiting and trademark dilution.

CME is also accusing the Canadian outfit of using a domain name too similar to its own, claiming www.globexfx.com was registered in September 2004 in "bad faith", says Crain's.

"The intent of Globex FX in registering the Globex FX domain names was to profit from the goodwill and value associated with the Globex marks, causing harm to CME," says the suit.

CME says it asked Globex FX to cease its actions in 2008 but no progress was made. It is now asking a judge to award it all profits Globex FX may have received as a result of the alleged actions and to prevent firm from using any trademarks similar to Globex.

CME sues Canadian firm for trademark infringement - Crain's Chicago business

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