CME Group Inc. said it defeated a 15-year-old court case that argued it engaged in anti-competitive behavior that blocked a major German exchange from getting a foothold in the U.S.

The case has been dismissed, CME said in a statement Nov. 1. It faced damages estimated at about $1.5 billion. A message sent outside normal business hours to Deutsche Boerse AG, the Frankfurt-based owner of the Eurex exchange that never got traction in the U.S., wasn’t immediately answered.

The lawsuit...