ICE Countersues Nymex over Prices

EXCHANGE WATCH

The Intercontinental Exchange (ICE), an Atlanta-based electronic commodities exchange, countersued the New York Mercantile Exchange (Nymex) last week over its use of Nymex’s settlement prices. The suit, which focuses on whether Nymex’s settlement prices are copyright-protected, could have a wider impact on the financial market if Nymex wins.

Nymex sued ICE in November, claiming that the Nymex settlement prices are copyright-protected and that ICE is illegally using them to clear and settle tr