10-Year Anniversary of the MIAX Options Exchange Launch
Miami International Holdings Commemorates
10-Year Anniversary of the MIAX Options Exchange Launch
PRINCETON, N.J. — December 7, 2022 — Miami International Holdings, Inc. (MIH), owner of Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), Minneapolis Grain Exchange, LLC (MGEXTM), The Bermuda Stock Exchange (BSXTM), and Dorman Trading LLC announced today the celebration of the 10-year anniversary of the launch of MIAX Options® with a ceremonial bell ringing at its Princeton, N.J. headquarters.
“Today is a truly momentous day in the history of Miami International Holdings as we celebrate the 10-year anniversary of the launch of MIAX Options,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. “I would like to thank all of our investors, directors and member firms for their unwavering support over the past decade. I also would like to extend my gratitude to all of our employees who have worked tirelessly to build MIAX Options into what it has become today.”
Since its launch on December 7, 2012, over 2.6 billion contracts have been executed on MIAX Options, with the exchange experiencing 99.999% operational uptime since inception. MIAX Options has reported a number of key milestones during 2022, including record year-to-date volume of 501.2 million contracts through November and a single day volume record of 3.9 million contracts on November 11, 2022.
“Our focus on providing industry-leading technology, superior customer service and outstanding risk protections have all contributed to the success of MIAX Options,” said Douglas M. Schafer, Executive Vice President and Chief Information Officer. “The growth of MIAX Options is a result of the dedication of our employees who have focused on providing a technology-first, customer centric approach to building an exchange that caters to the exacting needs of our customers and trading communities.”
“The 10-year anniversary of MIAX Options and its growth record are a clear testament to our strategy of working with our member firms to build a marketplace designed to meet the needs of today’s electronic options markets,” added Shelly Brown, Executive Vice President of Strategic Planning and Operations. “We will continue to work with our members and the industry to provide new technology and tools to support the constantly evolving options markets.”
About MIAX
MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), Minneapolis Grain Exchange, LLC (MGEX™), The Bermuda Stock Exchange (BSX™) and Dorman Trading, LLC (Dorman Trading).
MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission (SEC) that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all three exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism. MIAX also 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).
MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Hard Red Spring Wheat Futures and also serves as the exclusive market for SPIKES Futures. MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM, DCO and cash market services in an array of asset classes.
BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.
Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.
MIAX’s executive offices and National Operations Center are located in Princeton, N.J., with additional offices located in Miami, FL, Minneapolis, MN, Hamilton, Bermuda and Chicago, IL.
To learn more about MIAX visit www.MIAXOptions.com.
To learn more about MGEX visit www.mgex.com.
To learn more about BSX visit www.bsx.com.
To learn more about Dorman Trading visit www.dormantrading.com.
