I led the @tradexyz / S&P deal and am excited to see the reception to yesterday’s launch. There have been a lot of questions about the details, and though the specific terms are confidential, I wanted to clarify a few important points.
This was eight months in the making and involved a significant effort on both sides as the intention was not to just land a licensing deal, but rather form a much deeper relationship. We view SPDJI as co-owners of this product and we collaborated closely to design and launch it together.
While this is the first product of its kind, it is also the only official S&P 500 perp product, meaning trade[XYZ] holds the exclusive license for an S&P 500 perp. Both sides recognized the importance of this and so we worked persistently to reach an agreement for exclusivity.
This is just the beginning, though. SPDJI has an extremely robust set of iconic products, and they fully recognize the opportunity our collaboration enables. We’re excited to continue to work with their forward thinking team to make this product a success and bring many more innovative products to market in the future.
