SPX options are among the world’s most actively traded index derivatives, with a record 970.6 million contracts changing hands in 2025, or an average of 3.9 million per day, Cboe said. S&P DJI, meanwhile, operates some of the world’s most widely followed financial benchmarks, led by the S&P 500, that underpin trillions of dollars worth of investment products.
Tokenization puts traditional assets such as stocks, funds and credit on blockchain rails, where they can potentially trade around the clock, settle faster and move more easily between trading, lending and collateral systems.
For derivatives, the potential appeal goes beyond simply extending trading hours. Tokenized contracts can use smart contracts to automate functions such as collateral management, margin requirements and settlement, potentially reducing the number of intermediaries involved and allowing capital to be redeployed more quickly after a trade settles.
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