The options market is about to get another exchange where the buyside can find liquidity – and using a twist on pricing.
Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Options Exchange announced its plans to launch a second U.S. options exchange. The new exchange will leverage MIAXs technology and infrastructure to employ a price-time allocation model, and will enable MIH to compete for a segment of order flow that does not trade on the pro-rata market that MIAX currently operates.
MIH anticipates launching its new price-time exchange in the third quarter of 2016, pending SEC approval.
With recent industry trends shifting an increasing amount of U.S. options market volume to price-time model exchanges, we see a tremendous opportunity to bring our innovative technology, operating efficiency, enhanced risk protections and quality customer service to participants in this market segment, said Thomas P. Gallagher, Chairman and CEO of MIH.
Additional information concerning MIHs new price-time options exchange will be forthcoming, the exchange said in a release.
MIAX Options lists and trades options on over 2,300 multi-listed classes.
