Cboe Global Markets Extends Licensing Agreement with S&P Dow Jones Indices

By Ahmed Jamerson • Wednesday, September 30 01:44 • Permanent Link

Cboe Global Markets said its 25-year extension of the exclusive licensing agreement with S&P Dow Jones Indices will leave 2026 royalty fee terms unchanged, with the revised royalty structure taking effect in 2027.

The exchange operator said the 2027 royalty fee reset is expected to have a de minimis effect on 2027 net revenue growth, as it expects that impact to be offset by organic and ecosystem-driven volume growth, pricing optimization, and business execution.

Cboe said the new agreement runs through 2051. It also said future royalty fee adjustments should be smaller than the 2027 reset.

The company said it will provide more specific 2027 organic total net revenue guidance in February, when it reports fourth-quarter earnings. Following these announcements, the company's shares moved -1.85%, and are now trading at a price of $253.26. Check out the company's full 8-K submission here.

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