Jan. 24, 2014
/PRNewswire/ -- S&P Dow Jones Indices LLC (SPDJI) and
Board Options Exchange, Incorporated (CBOE
) reported today that the International Securities Exchange (ISE) has not appealed a federal court decision that rejected ISE's attempt in the
courts to challenge SPDJI's rights to control the use of the S&P 500® and the Dow Jones Industrial Average
as the basis of index options. CBOE holds an exclusive license to list options on the S&P 500
index, the Dow Jones Industrial Average, and select other indices calculated and published by SPDJI.
ISE's decision not to appeal brings to an end more than seven years of unsuccessful challenges to SPDJI's and CBOE's rights.
Most recently, on
December 18, 2013
federal judge dismissed ISE's lawsuit after finding that the earlier rulings by the
courts were final and binding on ISE. ISE's final deadline to appeal the federal court decision has passed.
"Intellectual property rights are the cornerstone of creativity and innovation, not just in the financial markets, but within all industries and businesses throughout the world," said
, CEO of S&P Dow Jones Indices. "As we had made blatantly clear more than seven years ago when this litigation first began, S&P Dow Jones Indices will vigorously and fiercely protect its well-established intellectual property rights from all those that seek to infringe upon them - ensuring that we remain the preeminent index provider in the world."
"CBOE is gratified that after seven years, ISE has given up its efforts to pursue this meritless litigation," CBOE CEO
Edward T. Tilly
said. "This is a victory for innovation at CBOE, which continues to shape and lead the index options marketplace by pioneering new product frontiers."
CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options and volatility trading through product innovation, trading technology and investor education. CBOE Holdings offers equity, index and ETP options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options and futures on the CBOE Volatility Index (the VIX Index). Other products engineered by CBOE include equity options, security index options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE Holdings is home to the world-renowned Options Institute and
, the go-to place for options and volatility trading resources.
About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average
, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 830,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit
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