5/8/2012

A federal appeals court in Washington, D.C., has ruled in favor of the International Securities Exchange regarding an exchange patent. ISE appealed a lower-court ruling that said the Chicago Board Options Exchange did not infringe on ISE's patent called "Automated Exchange for Trading Derivative Securities." The CBOE maintains that its approach is not the same as an "automated exchange" covered by the patent because trades are matched or sorted on a trading floor.

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