Nyse Euronext sues Dutch MTF TOM

Nyse Euronext sues Dutch MTF TOM

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.

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