Miami International Holdings (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, has entered into a licensing agreement with Bloomberg Index Services to develop a suite of index futures, options on futures, and cash options products based on Bloomberg Indices’ portfolio of benchmarks.
MIH will initially offer a number of equity index products which will be exclusively listed and traded on MIH’s exchanges, subject to regulatory approval.
“Our collaboration with Bloomberg Indices will provide the financial industry with access to a broad range of futures and options products designed to meet the needs of both retail and institutional equity investors,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH.
“We are very encouraged with the long-term potential for our collaboration, particularly given the depth and breadth of Bloomberg’s global distribution capabilities and the growing trend of asset managers, funds, and other investors benchmarking to Bloomberg indices,” he said.
Bloomberg offers a complete set of global equity index families covering over 99+% of the eligible free float market cap in 48 developed and emerging countries.
Bloomberg Equity Indices are available in global, regional, country, and sector exposures, in various currencies and returns (price/total/net) for clients to utilize for benchmarking, asset allocation and product creation. Since launching its suite of equity index products in 2019, Bloomberg now calculates more than 6,000 global equity indices using transparent, rules-based methodologies.
“Bloomberg Indices has invested considerable resources in developing a suite of innovative equity benchmarks covering a broad range of geographies, sectors and industries using our rules-based and transparent methodology,” said Dave Gedeon, CEO, Bloomberg Indices.
“Our collaboration with MIH to offer financial derivative products based on Bloomberg equity indices will provide the global investment community with a new range of innovative tools to help manage its equity risk exposure,” he said.
Gallagher further added: “The combination of MIH’s expertise in operating futures and options exchanges and Bloomberg’s advanced index, calculation, research and distribution capabilities will bring much-needed competition to the equity index derivatives industry.”
