CBOE Hits ISE With $525M Suit Over Options Trading Patents

Law360, New York (November 13, 2012, 9:38 PM EST) -- The Chicago Board Options Exchange Inc. on Monday hit International Securities Exchange LLC with a suit seeking at least $525 million in damages for its alleged infringement of three patents related to its automated options trading system.

CBOE is seeking to protect its electronic systems and methods for automatically adjusting quotes on the exchange based on risk parameters.

"ISE uses such systems and methods and in doing so infringes the patents-in-suit," the complaint said.

CBOE, the largest U.S. options exchange, claims ISE has infringed three of...
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