Exchanges Face Copyright Suit Over Symbol System

Law360, New York (February 4, 2010, 5:16 PM EST) -- A New Jersey company that provides business products and services to the financial services industry has hit seven major stock exchanges with a suit accusing them of breaching various software agreements by illegally creating derivative versions of the company's copyrighted computer programs.

In a suit lodged Wednesday in the U.S. District Court for the Southern District of New York, SFB Market Systems Inc. claims that the seven options exchanges — including the International Securities Exchange LLC, Nasdaq Stock Market LLC and NYSE Amex LLC — and...
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