Do You Need To Pay For Saying "DAX"?

Article by Dr Henning Harte-Bavendamm

A bank is entitled to use the DAX as "Underlying" and to mention the name "DAX®" to communicate that its financial instrument is linked to the rate of the DAX, the German stock exchange index. Such use does not require a trademark license from Deutsche Boerse. This follows from a decision of the Frankfurt Court of Appeal of Tuesday 13 February 2007. Since indirectly this court decision is also based on the European Trademark Directive, it is a relevant precedent for the other EC member states as well. It may affect the ability of index sponsors to charge trademark licence fees to banks and other financial institutions for using their indices.

The Judgment