Cboe Secures S&P 500 Options Deal Through 2051

Cboe Global Markets has secured its exclusive licensing agreement for S&P 500 Index options through 2051, giving it continued rights to offer this product. The deal extends a partnership that began in 1983 and covers Cboe's flagship SPX options business.

The partnership has reached record levels of demand, with SPX options recording 970.6 million contracts in 2025, representing a 25% increase from the previous year. Average daily volume reached 3.9 million contracts.

Cboe CEO Craig Donohue said the agreement gives the company a long-term runway to expand its SPX and VIX products while maintaining continuity for institutional traders.

The deal also shifts the partnership's focus to tokenized options on blockchain networks, allowing for 24/7 global trading. This could give investors access beyond traditional market hours and automate parts of margin management and trade settlement using smart contracts.