---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-111989"
form_type: "8-K"
ticker: "CBOE"
cik: "0001374310"
company_name: "Cboe Global Markets, Inc."
filed_at: "2026-09-29T21:25:31+00:00"
generated_at: "2026-10-12T13:54:20.664863+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cboe extends exclusive S&P 500 options license with S&P DJI through 2051; 2027 royalty reset called de minimis

## Summary
- Cboe Exchange signed a Master License Agreement with S&P Opco/S&P DJI on Sept 28, 2026, extending exclusive rights to list and trade S&P 500 (SPX) options through Dec 31, 2051.
- Updated per-contract royalty fees take effect Jan 1, 2027, with no impact on 2026 royalty terms; Cboe estimates the 2027 reset is a de minimis impact on 2027 net revenue growth.
- Future royalty fee adjustments will be smaller than the 2027 reset; specific 2027 organic total net revenue guidance comes in February with Q4 earnings.
- SPX options set a record 970.6 million contracts in 2025, average daily volume of 3.9 million, up 25% YoY and a fourth consecutive record year.
- Deal also covers cross-licenses for Volatility, BuyWrite and Variance Indices and allows collaboration on new products such as tokenized options contracts.

## SEC filing metadata
- accession: 0001104659-26-111989
- form_type: 8-K
- ticker: CBOE
- cik: 0001374310
- company_name: Cboe Global Markets, Inc.
- filed_at: 2026-09-29T21:25:31+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1374310/000110465926111989/0001104659-26-111989-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1374310/000110465926111989/tm2626203d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-111989
- JSON: https://secwatch.observer/filing/0001104659-26-111989.json
- Plain text: https://secwatch.observer/filing/0001104659-26-111989.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.