CME sues Canada's Globex Foreign Exchange
CME Group Inc.'s Chicago Mercantile Exchange unit sued an Alberta-based foreign exchange broker for trademark infringement.
Globex Foreign Exchange Corp. is accused of infringing CME's "Globex" trademark the Chicago company uses for its electronic trading platform. CME first used the mark in June 1988 and registered "Globex" with the U.S. Patent and Trademark Office in January 1990, according to the complaint filed April 13 in federal court in Chicago.
The Canadian company's Internet domain name -- www.globexfx.com -- infringes CME's own domain name www.globex.com, the Chicago company said in its pleadings. It listed 13 additional substantially similarly domain names registered by Globex that it claims also infringe.
CME accused Globex of registering the objectionable domain names "to profit for the goodwill and value associated with the Globex marks," and to "direct customers from CME's own Web site."
The two entities compete in foreign exchange transactions, and CME said it's harmed by the Canadian company's actions. The Chicago company filed the suit after a series of negotiations begun in November 2008 didn't settle the dispute.
The Chicago company said that although Globex had at one time said it would change its name, it was "unwilling to make a firm commitment to cease use of the Globex name within a definitive time frame."
CME requested it be transferred all the allegedly infringing domain names, and that the Canadian company be barred from using the Globex mark. Additionally, it requested the destruction of all allegedly infringing products and promotional materials, and an award of money damages in excess of $3.5 million.
The company also asked for all profits the Canadian company derived from its allegedly infringing actions, and for an award of litigation costs and attorney fees.
CME is represented by Joseph V. Norvell, Joseph T. Kucala Jr., and Jay M. Burgett of Chicago's Norvell IP LLC.
The case is Chicago Mercantile Exchange Inc., v. Globex Foreign Exchange Corp., 1:10-cv-02238, U.S. District Court, Northern District of Illinois (Chicago).