PRINCETON, New Jersey, Sept. 3, 2020 /PRNewswire/ — Miami International Holdings, Inc. (MIH) today reported August 2020 trading results for its three options exchanges – MIAX®, MIAX PEARL® and MIAX Emerald™ (together, the MIAX Exchange Group™). The MIAX Exchange Group collectively executed over 70.9 million equity option contracts in August for a combined average daily volume (ADV) of 3,380,801 contracts, representing a total U.S. equity options market share of 12.19%.
|Trading Volume for MIAX Exchange Group,
|Equity Options Contracts||Aug-20||Aug-19||% Chg||July-20||% Chg||Aug-20||Aug-19||% Chg|
|U.S. Equity Options
|MIAX Exchange Group||70,996,814||43,160,673||64.5%||66,453,392||6.8%||518,728,761||289,502,363||79.2%|
|Equity Options ADV||Aug-20||Aug-19||% Chg||July-20||% Chg||Aug-20||Aug-19||% Chg|
|U.S. Equity Options
|MIAX Exchange Group||3,380,801||1,961,849||72.3%||3,020,609||11.9%||3,087,671||1,723,228||79.2%|
|Equity Option Market Share for MIAX Exchange Group,
|Equity Options Market
|Aug-20||Aug-19||% Chg||July-20||% Chg||Aug-20||Aug-19||% Chg|
|MIAX Exchange Group||12.19%||10.31%||18.3%||11.41%||6.8%||11.75%||9.90%||18.8%|
Other news and achievements include:
- Announced that its proposed rule filing to provide for the trading of equity securities under the MIAX PEARL exchange license has been approved by the U.S. Securities and Exchange Commission.
- Trading on MIAX PEARL Equities, MIH’s first equities exchange, is expected to begin on September 25, 2020.
MIAX Exchange Group
- New daily market share record
- 15.29% market share on September 2, 2020
- Jointly announced with the Minneapolis Grain Exchange, Inc. (MGEX) that the parties have entered into a definitive agreement and plan of merger under which MIH has agreed to acquire MGEX following a demutualization of MGEX by its members.
- The transaction is expected to close in the fourth quarter of 2020, subject to MGEX membership approval and customary closing conditions including certain regulatory approvals.
|Corporate Communications Contact:||Natalie Kay, Karma Agency|
About MIH and the MIAX Exchange Group
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 options trading exchanges. MIH also owns a controlling interest in the Bermuda Stock Exchange.
MIAX, MIAX PEARL and MIAX Emerald options exchanges 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 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.
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