Dow Jones Indexes was granted an extension of a Temporary Restraining Order (TRO) against the International Securities Exchange (ISE) and the Options Clearing Corporation (OCC) by the Federal District Court of the Southern District of New York. Dow Jones Indexes sought the TRO to prevent the ISE from listing and trading options on DIAMONDS, a unit investment trust that holds equity securities comprising the Dow Jones Industrial Average (DIAMONDS), and the OCC from clearing such options, without a license.
Dow Jones Indexes claims ISE and OCC are “engaging in this threatened unlawful act to capitalize on the intellectual property and trademark rights of Dow Jones,” and it alleges that the trading “undermined Dow Jones Indexes’ exclusive licensing relationship with the Chicago Board Options Exchange (“CBOE”) for this product.”
Dow Jones Indexes was first granted a TRO on May 24 that was extended after a further hearing by the Court today pending the Court’s final determination on the application for a TRO.