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PTAB Invalidates Third NASDAQ Patent in Favor of MIAX; Finds all 49 Claims Unpatentable

PRINCETON, New Jersey, Oct. 4, 2019 /PRNewswire/ — Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Options®, MIAX PEARL® and MIAX Emerald exchanges (MIAX), today announced that a third Nasdaq patent asserted against MIAX as part of its infringement complaint has been found invalid by the Patent Trial and Appeal Board (PTAB) of the United States Patent and Trademark Office. In its final written decision, the PTAB ruled that all 49 claims of Nasdaq’s U.S. Patent No. 7,921,051 are unpatentable under 35 U.S.C. Section 101.

Nasdaq asserted infringement on six patents in its complaint against MIAX. This PTAB ruling marks the third consecutive Nasdaq patent to be invalidated, as the PTAB made the same ruling on two other patents earlier this week. The three remaining patents have yet to be decided by the PTAB.

“We could not be more pleased with these PTAB rulings and how this case is progressing,” said Thomas P. Gallagher, Chairman and CEO of MIH. “With each PTAB ruling that invalidates another Nasdaq patent it becomes more and more apparent that this infringement complaint is groundless and should have never been filed in the first place.”

For further information regarding MIAX, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.

Corporate Communications Contact: Dominique Prunetti-Miller
(609) 897-1465
dprunetti@miami-holdings.com

About MIH

Miami International Holdings, Inc. (MIH) is the parent holding company of Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX PEARL®) and MIAX Emerald, LLC (MIAX Emerald™ and together with MIAX and MIAX PEARL, the MIAX Exchange Group), three fully electronic options trading exchanges.

MIAX, MIAX PEARL and MIAX Emerald leverage the MIAX Exchange Group’s industry-leading technology and infrastructure to provide their member firms with traditional pricing and pro rata allocation (MIAX), maker-taker pricing and price-time allocation (MIAX PEARL) market structures, and a hybrid market structure with maker-taker pricing and pro rata allocation (MIAX Emerald).

MIAX Options serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).

The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, NJ, with a Miami Operations Center and additional offices located in Miami, FL.

To learn more about MIH and the MIAX Exchange Group visit www.MIAXOptions.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company), and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

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