S&P Dow Jones Indices announced today that it has licensed the S&P 500 to Trade[XYZ] to launch the first and only officially licensed perpetual derivative contract based on The 500.

XYZ is the leading provider of real world asset markets via perpetual derivatives on Hyperliquid, a high-performance, decentralized trading-focused blockchain. This collaboration represents the first time eligible, non-US investors can gain leveraged exposure to the S&P 500 through an officially licensed, digitally native product designed for 24/7 trading on a decentralized platform.

The collaboration extends the S&P 500’s liquidity ecosystem on-chain, making the world’s most iconic benchmark available around the clock. The 500® sits at the center of a global trading ecosystem, with over $1 trillion traded daily in linked exposures across exchange-traded futures, options, ETFs, and structured products. This launch marks the first officially licensed perpetual derivative based on a major index benchmark.

Perpetual derivatives allow eligible investors to take leveraged long or short positions on an underlying asset without fixed expiry, with XYZ markets available 24/7, 365 days a year. The new product represents the first and only official S&P 500 Index perpetual supported directly using institutional-quality S&P DJI index data, extending S&P DJI’s trusted benchmark exposure into the rapidly growing perpetual derivatives market.

“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,” said Cameron Drinkwater, Chief Product & Operations Officer at S&P Dow Jones Indices.

“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. It represents the most widely tracked equity index on earth and has been the defining benchmark for global equities for decades. 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,” said Collins Belton, Chief Operating Officer and General Counsel of Trade[XYZ]’s parent company.

The announcement builds on S&P DJI’s prior decentralized finance initiatives, including its recent launch of the S&P Digital Markets 50 index. The company continues evaluating opportunities to make index-based data and benchmarks available across emerging digital market structures.