CBOE, S&P Dow Jones Indices extend license agreement to 2033

March 13 Wed Mar 13, 2013 9:07am EDT

March 13 (Reuters) - The Chicago Board Options Exchange (CBOE) will keep exclusive rights to offer trading in indexes published by S&P Dow Jones Indices through 2032 and non-exclusive rights through 2033 under an agreement with owner McGraw-Hill Companies Inc.

The agreement between McGraw-Hill and CBOE owner CBOE Holdings Inc, which gives the CBOE rights to use the S&P 500 and the S&P 100 indexes to create options on those indexes and other derivative indexes, was set to expire in 2022.

CBOE will pay S&P Dow Jones Indices royalties on S&P 500 options and on its widely watched CBOE Volatility Index, or VIX . Financial terms were not disclosed.

The S&P 500 options contract is the most-active U.S index option, averaging nearly 700,000 contracts traded daily in 2012.