Cboe and S&P DJI Extended Licensing Until 2051

The long-term agreement secures continued access to S&P 500 Index options for market participants.

Updated on Sept. 29, 2026 in Stock Markets

Isometric editorial illustration featuring a sculptural, metallic lattice structure, evoking long-term stability in financial market infrastructure. — Cboe Global Markets and S&P Dow Jones Indices have extended their licensing agreement for S&P 500 Index options through 2051. AI Illustration. Upload story photo >

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Cboe Global Markets and S&P Dow Jones Indices have officially extended their long-standing licensing partnership for an additional 25 years. The deal, which runs through 2051, preserves Cboe's exclusive rights to offer S&P 500 Index options.

Why it matters

This agreement provides long-term stability for the trading infrastructure used by many institutional and individual investors to manage market exposure. It also sets the stage for future financial innovations, as the two entities plan to explore the development of tokenized options.

The SPX options suite saw 970 million contracts traded in 2025, with an average daily volume of 3.9 million contracts. This marks a 25% increase in daily trading volume compared to the prior year.

The players

Cboe Global Markets

An exchange operator that provides trading platforms and options contracts used by investors to manage portfolio risk.

S&P Dow Jones Indices

A provider of financial market indices that licenses its data and benchmarks for investment products and derivatives.

The details

The partnership between Cboe and S&P Dow Jones Indices originally began in 1983 and serves as the foundation for the S&P 500 Index options market. By locking in the licensing rights for another 25 years, the firms ensure the continued availability of these derivative products. The companies also noted that their renewed collaboration will include research into tokenized options contracts, a move that could potentially modernize how these instruments are accessed and settled in the future.

1983 marked the beginning of the partnership between Cboe and S&P DJI.
During 2025, the SPX options suite recorded over 970 million contracts traded.
The agreement extension was formally announced on September 29, 2026.
The new licensing term is set to conclude in 2051.

Money Landscape

This extension secures the infrastructure for a market that has seen significant growth in recent years. It cements the partnership that began in 1983 for a new multi-decade horizon.

The agreement ensures that popular S&P 500-based derivative products remain available for market participants to hedge or manage investment accounts. Consult with a qualified financial advisor to understand how these tools fit into your long-term wealth management and risk strategy.

The takeaway

The renewal of this decades-long partnership signals long-term stability for the primary index options market in the United States. Investors should continue to monitor how new technologies, such as the proposed tokenized options, may eventually impact the cost and accessibility of these instruments.