CBOE wins four year battle to stop ISE listing S&P options
Judge William Maki in the Circuit Court of Cook County, Illinois, upheld CBOE’s challenge, banning the New York-based options exchange from offering options linked to the Standard & Poor’s 500 Index and the Dow Jones Industrial Average.
He also forbade the Options Clearing Corporation to clear such contracts.
The legal battle between the two leading US options exchanges began in 2006 when ISE sued the CBOE to end its exclusive hold, and the CBOE countersued ISE and the Options Clearing Corporation.
Separately, ISE has fallen into line with most of the other US options exchanges by introducing Do Not Route orders, allowing customers to choose to keep their order at ISE, even if the national best price is at another exchange.
Found this useful?
Take a complimentary trial of the FOW Marketing Intelligence Platform – the comprehensive source of news and analysis across the buy- and sell- side.
Gain access to:
- A single source of in-depth news, insight and analysis across Asset Management, Securities Finance, Custody, Fund Services and Derivatives
- Our interactive database, optimized to enable you to summarise data and build graphs outlining market activity
- Exclusive whitepapers, supplements and industry analysis curated and published by Futures & Options World
- Breaking news, daily and weekly alerts on the markets most relevant to you
