Source: International Securities Exchange
The International Securities Exchange (ISE) announced today that the U.S. Court of Appeals for the Federal Circuit unanimously ruled in ISE's favor in the exchange's patent infringement case against the Chicago Board Options Exchange (CBOE).
This decision clears the way for the case to move back to the District Court where ISE will aggressively pursue its claims of patent infringement.
ISE originally brought the action against the CBOE in November 2006 for infringement of its primary patent, U.S. Patent No. 6,618,707, titled "Automated Exchange for Trading Derivative Securities." Among other aspects, this patent covers ISE's trade matching algorithm.
Gary Katz, ISE's President and CEO, said, "We are very gratified that the Appeals Court ruled unanimously in ISE's favor. We will continue to vigorously pursue our ongoing effort to protect our patented technology as this case moves back to the trial judge for further consideration."
ISE is represented in the litigation by Goodwin Procter LLP.