CME sues globexfx.com for trademark infringement

It seems that everybody is suing everybody these days and just about for anything.

A few days ago Broadband Graphics LLC sued CMS Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term claiming that CMS's VT Trader 2.0 software infringes a pair of patents for technology that automatically resizes images to fit into an end-user’s device. It seems that Broadband is in the business of suing many companies for similar alleged infringements as I found at least three more such lawsuits filed by this company here, here and here.

Now we have Chicago Mercantile Exchange Corp (CME) suing a small Canadian FX broker for trademark infringement and for cyber squatting.

Futures and options exchange operator CME, a unit of Chicago's CME Group Inc., filed its lawsuit Tuesday in U.S. District Court for the Northern District of Illinois against Global Foreign Exchange Corp. of Edmonton, Alberta. CME’s suit accuses Global Foreign Exchange, which also goes by Globex FX, of trademark infringement, trademark counterfeiting, trademark dilution, cybersquatting, unfair competition and deceptive trade practices. At issue is the trademark for CME’s Globex electronic trading system, which it launched in 1992. Globex FX “intentionally uses CME’s Globex trademark without authorization” on its Web site, according to the suit. In addition, CME claims that Globex FX’s domain name is too similar to its own and, when Globex FX registered www.globexfx.com in September 2004 and later other similar URLs, it was doing so in “bad faith.”

Personally I think this is an unnecessary legal battle as I couldn't find any similar trademark on globexfx.com's website to that of CME's, nor do I think any client can confuse CME's Globex platform https://www.cmegroup.com/globex/ (which doesn't even offer forex rather futures and options) with globexfx.com which is esentially a Forex Broker Forex Broker In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke Read this Term mainly dealing with international currency transactions. My guess is that the people behind globexfx.com just thought that globex was a nice Portmanteau of the words globe and forex.