Cboe and S&P Dow Jones Extend Exclusive Index Deal to 2051
Cboe Global Markets secures exclusive S&P 500 options licensing rights for 25 more years, opening doors to next-generation market innovation.
Cboe Global Markets and S&P Dow Jones Indices have signed a 25-year extension of their exclusive licensing agreement, locking in Cboe's rights to list and trade S&P 500 Index options through 2051, the companies announced September 29, 2026, in Chicago and New York.
The renewed deal preserves one of the most commercially significant exclusive arrangements in derivatives markets. S&P 500 Index options traded on Cboe are among the most liquid and widely used instruments for institutional hedging and portfolio risk management in the world, making the licensing relationship a cornerstone of Cboe's business model.
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Beyond extending existing rights, the agreement is structured to create new opportunities for collaboration across what the companies describe as next-generation markets and technologies. While specific product pipelines were not detailed in the announcement, the broad mandate signals both firms intend the partnership to evolve alongside emerging trading infrastructure and asset classes over the coming decades.
The extension through 2051 provides Cboe with long-term competitive insulation in the index-options space, where rival exchanges have periodically sought to challenge its dominant position. For S&P Dow Jones Indices, a division of S&P Global, the deal secures a major licensing revenue stream well into the middle of the century.
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