Canadian Exchanges Settle $101M IP Suit

Law360 (April 11, 2008, 12:00 AM EDT) -- TSX Inc., which operates Canada's largest stock exchange, has settled a suit in which it accused rival Canadian Trading and Quotation System Inc. of illegally making use of TSX's trading systems specifications and sought more than $100 million in damages.

Pursuant to the settlement deal, Canadian Trading and Quotation System's Pure Trading unit will get commercial licenses for the continued use of the intellectual property at the heart of dispute and Canadian Trading and Quotation System acknowledged TSX's ownership rights with respect to the disputed materials,...
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