Cboe Global Markets and S&P Dow Jones Indices extended their exclusive licensing agreement by 25 years to 2051, continuing a partnership that began in 1983 with S&P 500 options. Under the renewed deal, Cboe retains exclusive listing and trading rights for S&P 500 Index options.
As part of the extension, the parties will explore potential tokenized options contracts, a development they say could improve market accessibility and efficiency while posing regulatory challenges. Cboe noted the contract suite exceeded 970 million contracts traded in 2025 and average daily volume rose 25% year over year to 3.9 million.