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AI brief of an SEC Form 8-K · Cboe Global Markets (CBOE)

Cboe extends exclusive S&P 500 index options license with S&P DJI through 2051

Neutral Impact 3 of 5 product/contract Written later

Cboe Exchange signed a Master License Agreement with S&P Opco, LLC, effective September 28, 2026 and running until December 31, 2051, extending its rights to the S&P 500 index for standardized options. Updated per-contract license fees start January 1, 2027, and Cboe estimates they will have a de minimis impact on its 2027 net revenue growth.

Key points

  • Agreement effective September 28, 2026, through December 31, 2051
  • No impact on 2026 royalty fee terms; updated fees begin January 1, 2027
  • Cboe estimates a de minimis impact on 2027 net revenue growth and will give 2027 organic net revenue guidance with fourth quarter earnings in February
  • SPX options set a record 970.6 million contracts in 2025, with average daily volume of 3.9 million contracts, up 25%

The filing

CompanyCboe Global Markets (CBOE)
Form8-K, current report
Filed with the SECSep 29, 2026, 5:25 PM ET
Accession number0001104659-26-111989

Items reported: 1.01 Material Definitive Agreement7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 29, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.