NYSE Euronext's Liffe is taking the Dutch alternative trading system The Order Machine to court over TOM's launch of equity-index options based on NYSE Euronext's AEX Index. "We offered TOM a license in line with the industry standards for index license fees for derivatives," said Ade Cordell, head of equity derivatives at NYSE. "They did not accept our reasonable offer and chose to ignore rules and agreements, which violates our legal rights under IP law, and is unfair to market participants." TOM CEO Willem Meijer said the platform doesn't need a license. "We didn't ask for a proposal because we think that using a license is not applicable," Meijer said.
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