S&P Gets Injunction Against Spider Trading, But Signs Last-Minute Licensing Deal With ISE

Law360, New York (January 9, 2005, 12:00 AM EST) -- McGraw-Hill Cos., the parent company of Standard & Poor’s, has been granted a preliminary injunction in a licensing dispute with two top players in the options industry, but agreed to a last-minute deal on Monday that still allows the International Securities Exchange to trade options on popular S&P Depositary Receipts known as “Spiders.”

Late last week, a judge with the U.S. District Court for the Southern District of Manhattan granted S&P the injunction against the ISE, a fast-growing options exchange.

On Thursday, McGraw Hill sued to...
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