CHICAGO, IL - March 14, 2013 -- The Chicago Board Options Exchange (CBOE) announced today that the federal court in Chicago ended the trial on the International Securities Exchange's (ISE) patent suit. ISE had sued CBOE for alleged infringement of ISE's patent relating to an "automated exchange." By its action, ISE now concedes that CBOE does not infringe ISE's patent, based on several recent decisions in CBOE's favor.
"We are gratified that this case has reached the correct result," said CBOE Chairman and CEO William J. Brodsky. Incoming CBOE CEO and current COO and President Ed Tilly added, "CBOE has always been and will continue to be the leading innovator in the options industry."
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 offers equity, index and ETF 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 is home to the world-renowned Options Institute and www.cboe.com, the go-to place for options and volatility trading resources. CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC.
CBOE®, Chicago Board Options Exchange®, Flexible Exchange®, FLEX®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, COPSSM, SPXSM, and The Options Institute are service marks of Chicago Board Options Exchange, Incorporated (CBOE). Standard & Poor's®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC and have been licensed for use by CBOE. All other trademarks and service marks are the property of their respective owners.