Justices Told Copyright Law Sinks Exchanges' Options Win

Law360, New York (February 5, 2013, 4:20 PM EST) -- International Securities Exchange LLC recently urged the U.S. Supreme Court to overturn a decision that blocked the exchange from selling options linked to the S&P 500 and Dow Jones Industrial Average, saying federal copyright law preempts misappropriation claims made by the indices' owners.

According to an ISE petition for writ of certiorari filed Jan. 25, ISE told the Supreme Court that an Illinois state appeals decision incorrectly found in favor of S&P 500 owner The McGraw-Hill Cos. Inc., Dow Jones owner CME Group Index Services LLC,...
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