S&P Dow Jones Indices announced on March 18 2026 that it has licensed the S&P 500® benchmark to Trade[XYZ] for the launch of the first officially licensed perpetual derivative contract based on the index, which will trade 24/7 on the Hyperliquid decentralized platform.
The new product delivers institutional‑quality S&P DJI index data directly to the on‑chain contract, ensuring that the perpetual derivative meets the same standards as traditional exchange‑listed futures and options. It is the first time a major benchmark has been made available as a perpetual contract on a blockchain‑based exchange, giving non‑U.S. investors 24/7 leveraged exposure to the world’s most iconic equity index.
By entering the DeFi market, S&P Global expands the liquidity ecosystem for the S&P 500 and positions itself at the forefront of the growing perpetual‑derivatives space. The partnership is expected to generate incremental licensing and transaction‑fee revenue as the product gains traction among digitally‑native traders.
S&P Global’s Q4 2025 results, released on February 10 2026, showed revenue of $3.916 billion, up 9% year‑over‑year, and GAAP diluted EPS of $3.75, a 32% increase. The company’s full‑year 2025 revenue was $15.336 billion, up 8% YoY, with GAAP diluted EPS of $14.66, up 19% YoY.
Cameron Drinkwater, Chief Product & Operations Officer at S&P Dow Jones Indices, said, “This collaboration expands access and utility of our flagship benchmarks within digital trading environments. We believe digitally‑native investors should demand the institutional‑quality standards that define our indices, and we are thrilled to work with Trade[XYZ] to do so.” Collins Belton, Chief Operating Officer and General Counsel of Trade[XYZ]’s parent company, added, “We developed XYZ with a vision of bringing the world’s most important markets on‑chain. The S&P 500 is a natural starting point. Through our collaboration with S&P DJI, an S&P 500 perpetual contract is now accessible 24/7 on Hyperliquid, bringing us one step closer to that vision.”
The launch underscores S&P Global’s commitment to building growth in digital‑assets markets and signals confidence in the long‑term viability of blockchain‑based derivatives. As the Hyperliquid platform continues to process over $100 billion in volume since October 2025, the new perpetual contract is positioned to attract a broad base of non‑U.S. investors seeking continuous, leveraged exposure to the S&P 500.
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