Nymex/ICE settlement battle finally over but war far from over
The US Supreme Court has rejected further appeals by New York
Mercantile Exchange (Nymex) over the use of its
settlement data by Intercontinental Exchange (ICE). The
decision effectively brings an end to the legal battle between
the two exchanges on the issue of settlement but the battle
lines may have redrawn between the two US exchanges.
Legal proceedings started back in 2002, with Nymex initiating a
legal case against ICE following the Atlanta-based exchange use
of Nymexs settlement prices. However, the presiding judge
ruled in favour of ICE in 2005; ruling that ICEs citation
of Nymexs settlement was sufficient. Nymex appealed but
this latest court decision now brings to an end this long
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