Nymex sues Ice as battle for market supremacy mounts

The New York Mercantile Exchange (Nymex) is suing IntercontinentalExchange (Ice), the Atlanta-based online commodities trading platform, for alleged copyright infringement, a Nymex spokeswoman told RiskNews . Nymex and Ice have been fighting for dominancy in the energy trading markets ever since Enron’s bankruptcy.

Nymex alleges that Ice has been using its copyrighted settlement prices of its natural gas futures and light sweet crude oil futures contracts to clear and settle derivatives trades on the Ice platform.

Nymex has asked for an injunction to stop Ice using the settlement prices, and is seeking damages.

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