TrueEX, LLC obtained a preliminary injunction against MarkitSERV Limited from a federal district court in New York City, preventing MarkitSERV from cutting off certain interest rate swaps trade processing services trueEX claimed it required to operate its IRS swap execution facility. After trueEX announced it was developing a new IRS trade processing system of its own in December 2015, MarkitSERV served notice that it would terminate its trade processing services to trueEX effective May 14, 2017; it later extended this date to July 24. trueEX filed a lawsuit against MarkitSERV claiming, among other things, that MarkitSERV’s conduct constituted a violation of federal anti-trust laws. In granting a preliminary injunction to trueEX, the court noted that it was not ruling on the merits, but solely balancing potential hardships between the parties. Without a preliminary injunction, “trueEX is likely to suffer economic injury in the form of lost clients and lost revenue, injury that has the potential to be ruinous in nature,” said the court.