Cboe Extends S&P 500 Options License to 2051, Eyes Tokenized Contracts

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Cboe Extends S&P 500 Options License to 2051, Eyes Tokenized Contracts

Cboe Global Markets and S&P Dow Jones Indices renewed their exclusive licensing agreement through 2051 on September 29, 2026, keeping Cboe’s rights to offer options on the S&P 500 Index and naming tokenized options contracts as an area the two firms may explore together, Decrypt reported. Cboe shares rose more than 6% after the announcement, with premarket gains of 6.6%.

Cboe and S&P Dow Jones Indices extended their exclusive S&P 500 options license through 2051 and said they may explore tokenized options contracts. No tokenized product has been announced, filed, or scheduled, and any tokenized contract would be a separate product from the SPX options that trade today.

Key facts

• The renewed agreement preserves Cboe’s exclusive rights to offer S&P 500 Index, or SPX, options through 2051, replacing a prior horizon that ran through 2033 with exclusive index options rights through 2032.
• SPX options volume reached a record 970.6 million contracts in 2025, up 25% from 2024, with average daily volume of 3.9 million contracts — a fourth consecutive annual record, per crypto.news.
• Royalty terms stay the same during 2026, with revised terms taking effect in 2027; Cboe said it expects only a minimal effect on net revenue growth.
• The tokenization discussion is exploratory: the companies named no filing, trading venue, settlement design, or timetable for a tokenized contract.
• The partnership dates to 1983, when Cboe launched the first S&P 500 index options.