Cboe Global Markets, the major U.S. derivatives exchange, and S&P Dow Jones Indices announced on September 29 that they will extend their exclusive licensing agreement for index derivatives by 25 years, continuing it through 2051. Under the agreement, Cboe will retain the exclusive right to offer trading in S&P 500 index options, its flagship product, through 2051. The two companies said they may also collaborate on innovations beyond traditional index derivatives, citing tokenized options contracts as a candidate for future cooperation, though no specific product launch has been decided at this point, and the start date, the blockchain to be used, and the product's structure have not been disclosed. According to Cboe, annual trading volume in SPX options reached a record 970.6 million contracts in 2025, with a daily average of 3.9 million contracts, up 25 percent from the previous year. Cboe CEO Craig Donohue said the extension will allow the company to grow its SPX and VIX-related businesses while expanding room to pursue innovations that respond to changing investor needs and new technologies.
Cboe Global Markets IncCboe extends its exclusive S&P 500 index options licensing agreement through 2051, securing its flagship SPX product and VIX-related business.
S&P Global IncS&P DJI extends its exclusive index derivatives licensing deal with Cboe by 25 years, locking in long-term licensing revenue.
