8-KMaterial AgreementsExhibits & Filings

Cboe Global Markets, Inc. 8-K Report, Material Agreement (May 11, 2010)

Filed May 11, 2010For Securities:CBOE

Summary

Cboe Global Markets, Inc. (CBOE) announced on May 11, 2010, an amendment to its existing License Agreement with Standard & Poor's Financial Services LLC (S&P), effective April 29, 2010. This amendment, specifically Amendment No. 11, serves to expand the scope of the license previously granted to CBOE for the use of S&P Indexes. Crucially for investors, the amendment expressly includes any Affiliate of CBOE within the licensing rights. This specifically pertains to C2 Options Exchange, Incorporated ("C2"), a separate securities exchange controlled by CBOE. This extension ensures that C2 can also leverage the S&P Indexes under the existing agreement, potentially enhancing its product offerings and competitive positioning. The definition of "Affiliate" is detailed, with a specific condition related to third-party ownership of C2's voting securities requiring S&P's consent.

Key Highlights

  • 1Cboe Global Markets, Inc. (CBOE) amended its license agreement with Standard & Poor's Financial Services LLC (S&P) for the use of S&P Indexes.
  • 2The amendment, effective April 29, 2010, expands the license to cover CBOE's Affiliates.
  • 3Specifically, C2 Options Exchange, Incorporated ("C2"), a CBOE-controlled affiliate, is now explicitly included under the license.
  • 4This allows C2 to utilize S&P Indexes, potentially broadening its product suite and market reach.
  • 5The definition of "Affiliate" is clearly defined, including control thresholds and a proviso for third-party ownership of C2.
  • 6The amendment aims to formalize and extend the existing licensing arrangement to a related entity.

Frequently Asked Questions

The primary purpose of Amendment No. 11 is to explicitly extend the license granted by S&P to CBOE for the use of S&P Indexes to include any of CBOE's "Affiliates," specifically C2 Options Exchange, Incorporated ("C2"). This allows C2 to also leverage these indexes under the agreement.

The amendment solidifies CBOE's ability to utilize S&P Indexes through its affiliate, C2. This suggests a strategic move to enable C2 to offer products or services that incorporate S&P Indexes, thereby enhancing its operational capabilities and market offerings.

Yes, C2 is considered an Affiliate as long as it is controlled by, under common control with, or controls CBOE. However, if a single third party (not related to CBOE's control structure) acquires more than 20% of C2's voting securities, C2 will only continue to be deemed an Affiliate if S&P provides written consent, which shall not be unreasonably withheld.

No, this specific Form 8-K filing does not include any financial statements, pro forma financial information, or information about shell company transactions. It is solely focused on the material agreement amendment.