Chicago, IL – March 23, 2012 – The Chicago Board Options Exchange (CBOE) and The McGraw-Hill Companies, Inc. and its S&P Indices business (“S&P”) today announced that they have asked a court in Chicago to enforce the injunction against the International Securities Exchange, LLC (ISE) to prohibit it from listing and trading options on what ISE has called the ISE Max SPY™ index. S&P is the developer and publisher of the S&P 500® index and exclusively licenses CBOE and C2 Options Exchange (C2) to list and trade options based on the S&P 500.
CBOE and S&P’s court filing demonstrates that ISE’s options actually are structured to be options on the S&P 500. Therefore, CBOE and S&P seek enforcement of the injunction imposed against ISE in July 2010, which prohibits ISE’s “listing or providing an exchange market for the trading of...S&P 500 index options.”
“CBOE and S&P brought this action in order to prevent this violation of both CBOE’s license rights in S&P 500 index options and S&P’s proprietary rights in the S&P 500.These rights were firmly established by legal precedent years ago and were reinforced by the 2010 injunction that prohibited ISE from listing or trading options on the S&P 500,” said CBOE Chairman and CEO William J. Brodsky.