Cboe Global Markets extends S&P 500 options license to 2051

Cboe Global Markets and S&P Dow Jones Indices have signed a 25-year extension of their exclusive licensing agreement, securing Cboe’s rights to trade S&P 500 Index (SPX) options through 2051.

The partnership, which dates back to 1983, aims to provide stability for Cboe’s flagship derivatives business. The agreement also includes provisions for the two companies to explore new product innovations, specifically naming tokenized options contracts as a potential area for future collaboration.

While the move toward blockchain-based derivatives is exploratory and lacks a specific timeline or defined product structure, it aligns with growing institutional interest in asset tokenization. The extension comes amid record-breaking activity for SPX options; in 2025, trading volume reached 970.6 million contracts, a 25% increase from the previous year.