Source: Chicago Board Options Exchange
The Chicago Board Options Exchange (CBOE) today announced that the United States District Court for the Northern District of Illinois found that CBOE does not infringe a patent entitled "Automated Exchange for Trading Derivative Securities," held by International Securities Exchange, LLC (ISE).
In its ruling the Court held that CBOE's proprietary Hybrid and CBOEdirect systems do not infringe ISE's patent. As a result of the ruling, ISE's patent infringement suit against CBOE has been terminated.
"We are gratified that the Court has ruled in CBOE's favor," said CBOE Chairman and CEO William J. Brodsky. "This ruling vindicates our long-held position that CBOE's innovative systems in no way infringe ISE's patent."