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McGraw-Hill Sues Major Options Players Over Index Trading

Law360 (January 7, 2005, 12:00 AM EST) -- The McGraw-Hill Companies has sued two major players in the options market, seeking an injunction to prevent them from trading options on Standard & Poor’s depositary receipts without a license.

The complaint, filed with the U.S. District Court Southern District of New York in Manhattan, targets the International Securities Exchange and the Options Clearing Corporation.

Standard & Poor’s, best know for its index services and its bond ratings division, is a subsidiary of the McGraw-Hill publishing conglomerate. The unit has been fiercely protective of its trademarked...
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