Cboe Extends S&P 500 Options License Through 2051

Cboe Global Markets and S&P Dow Jones Indices have extended their exclusive licensing agreement for S&P 500 Index options through 2051, securing Cboe’s rights to offer the contracts for another 25 years. The companies also said they may explore tokenized options, but announced no product, launch date or technical plan. The extension applies to Cboe’s SPX options, a major part of its derivatives business. The companies’ partnership dates to 1983, when Cboe launched options tied to the S&P 500. The renewed agreement preserves Cboe’s exclusive license to offer those options through 2051. Cboe reported that 970.6 million SPX options contracts traded in 2025, a 25% increase from 2024. Average daily volume was 3.9 million contracts, according to the company. Those figures were cited alongside the licensing announcement; the agreement’s financial terms were not disclosed in the reports. The companies described tokenized options as a possible area of collaboration beyond traditional index derivatives. They did not say whether any future contract would use blockchain infrastructure, how it might trade or settle, what approvals it would need, or when it could be developed.