Futures exchange accused of 'abusing its monopoly power'
Just weeks after New York Mercantile Exchange (Nymex) filed
suit against rival Intercontinental Exchange (ICE) for
copyright infringement, ICE has turned the tables filing a
counter-suit against Nymex.
At issue for both exchanges is the usage of settlement
prices on energy contracts traded on Nymex. Nymex's suit, filed
last November, states that ICE has been illegally "copying,
reproducing, distributing, and preparing derivative works"
based on settlement prices on natural gas futures contracts and
light sweet crude oil futures from Nymex since April 2002.
Because Nymex originates the closing price information at the
exchange, the suit claims that it has ownership of such
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