On Friday morning, the Supreme Court of Canada will hand down its decision in a US$150-million dispute over the use of securities market data. On appeal, in 2024, the Court of Appeal for Ontario upheld the lower court’s ruling on liability, but set aside the award of $922,887 that was tied to the data shared with CIBC Mellon. SS&C then took the case to the Supreme Court, arguing that the damages award should be much greater. “BNY not having produced any evidence to demonstrate otherwise, the damages award SS&C seeks from this court is the only possible award on this record,” it said in its filings to the Supreme Court. “Moreover, only this damages award would ensure that BNY does not enjoy a windfall from reselling SS&C’s market data to the unauthorized entities,” it said.