Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, reported September 2024 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl®, MIAX Emerald® and MIAX Sapphire™ (collectively, the MIAX Exchange Group), and MIAX Futures™.
September 2024 and Year-to-Date Trading Volume and Market Share Highlights
- Total multi-listed options volume for the MIAX Exchange Group reached 124.6 million contracts, a 7.0% increase year-over-year (YoY). September 2024 market share reached 14.2%, a 7.1% decrease YoY. Total year-to-date (YTD) volume reached 1.2 billion contracts, a 0.3% decrease from the same period in 2023.
- MIAX Sapphire reached a monthly volume of 9.8 million contracts, with September 2024 market share reaching 1.1%. MIAX Sapphire launched trading on August 12, 2024, listing a single class for the first week and additional classes in multiple phases on a weekly schedule through the week of October 21, 2024, at which time more than 3,800 classes will be available for trading.
- MIAX Options reached a monthly volume of 52.6 million contracts, a 12.9% increase YoY. September 2024 market share reached 6.0%, a 2.0% decrease YoY. Total YTD volume reached a record 506.0 million contracts, a 4.6% increase from the same period in 2023.
- MIAX Pearl Options reached a monthly volume of 28.8 million contracts, a 39.9% decrease YoY. September 2024 market share reached 3.3%, a 47.9% decrease YoY. Total YTD volume reached 372.0 million contracts, a 25.5% decrease from the same period in 2023.
- MIAX Emerald Options reached a monthly volume of 33.5 million contracts, a 52.0% increase YoY. September 2024 market share reached 3.8%, a 32.0% increase YoY. Total YTD volume reached a record 316.6 million contracts, a 39.8% increase from the same period in 2023.
- In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 4.1 billion shares, an 8.7% increase YoY and representing a market share of 1.7%, a 5.2% decrease YoY. Total YTD volume reached a record 37.9 billion shares, a 17.0% increase from the same period in 2023. YTD market share reached a record 1.7%, a 9.5% increase from the same period in 2023.
- In U.S. futures, MIAX Futures, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 185,195 contracts, a 3.6% decrease YoY.
Additional MIAX Exchange Group and MIAX Futures trading volume and market share information are included in the tables below.
| Multi-Listed Options Trading Volume for MIAX Exchange Group, Current Month | Year-to-Date Comparison | |||||||
| Multi-Listed Options Contracts | Sep-24 | Sep-23 | % Chg | Aug-24 | % Chg | Sep-24 | Sep-23 | % Chg |
| Trading Days | 20 | 20 | 22 | 188 | 187 | |||
| U.S. Equity Options Industry | 879,099,779 | 763,134,859 | 15.2 % | 962,386,101 | -8.7 % | 8,136,518,110 | 7,560,157,102 | 7.6 % |
| MIAX Exchange Group | 124,601,088 | 116,458,284 | 7.0 % | 131,705,816 | -5.4 % | 1,205,501,741 | 1,209,591,615 | -0.3 % |
| MIAX Options | 52,557,584 | 46,537,747 | 12.9 % | 61,027,610 | -13.9 % | 506,029,246 | 483,939,342 | 4.6 % |
| MIAX Pearl | 28,765,237 | 47,901,118 | -39.9 % | 30,611,320 | -6.0 % | 372,010,823 | 499,215,133 | -25.5 % |
| MIAX Emerald | 33,473,285 | 22,019,419 | 52.0 % | 39,015,174 | -14.2 % | 316,604,978 | 226,437,140 | 39.8 % |
| MIAX Sapphire(1) | 9,804,982 | – | – | 1,051,712 | 832.3 % | 10,856,694 | – | – |
| Multi-Listed Options ADV | Sep-24 | Sep-23 | % Chg | Aug-24 | % Chg | Sep-24 | Sep-23 | % Chg |
| U.S. Equity Options Industry | 43,954,989 | 38,156,743 | 15.2 % | 43,744,823 | 0.5 % | 43,279,352 | 40,428,648 | 7.1 % |
| MIAX Exchange Group | 6,230,054 | 5,822,914 | 7.0 % | 5,986,628 | 4.1 % | 6,412,243 | 6,468,404 | -0.9 % |
| MIAX Options | 2,627,879 | 2,326,887 | 12.9 % | 2,773,982 | -5.3 % | 2,691,645 | 2,587,911 | 4.0 % |
| MIAX Pearl | 1,438,262 | 2,395,056 | -39.9 % | 1,391,424 | 3.4 % | 1,978,781 | 2,669,600 | -25.9 % |
| MIAX Emerald | 1,673,664 | 1,100,971 | 52.0 % | 1,773,417 | -5.6 % | 1,684,069 | 1,210,894 | 39.1 % |
| MIAX Sapphire(1) | 490,249 | – | – | 47,805 | 925.5 % | 57,748 | – | – |
| Multi-Listed Options Market Share forMIAX Exchange Group, Current Month | Year-to-Date Comparison | |||||||
| Multi-Listed Options Market Share | Sep-24 | Sep-23 | % Chg | Aug-24 | % Chg | Sep-24 | Sep-23 | % Chg |
| MIAX Exchange Group | 14.17 % | 15.26 % | -7.1 % | 13.69 % | 3.6 % | 14.82 % | 16.00 % | -7.4 % |
| MIAX Options | 5.98 % | 6.10 % | -2.0 % | 6.34 % | -5.7 % | 6.22 % | 6.40 % | -2.8 % |
| MIAX Pearl | 3.27 % | 6.28 % | -47.9 % | 3.18 % | 2.9 % | 4.57 % | 6.60 % | -30.8 % |
| MIAX Emerald | 3.81 % | 2.89 % | 32.0 % | 4.05 % | -6.1 % | 3.89 % | 3.00 % | 29.9 % |
| MIAX Sapphire(1) | 1.12 % | – | – | 0.11 % | 920.6 % | 0.13 % | – | – |
| (1) | MIAX Sapphire launched trading on August 12, 2024, listing a single class for the first week and additional classes in multiple phases on a weekly schedule through the week of October 21, 2024, at which time more than 3,800 classes will be available for trading. |
| Equities Trading Volume forMIAX Pearl Equities, Current Month | Year-to-Date Comparison | |||||||
| Equities Shares (millions) | Sep-24 | Sep-23 | % Chg | Aug-24 | % Chg | Sep-24 | Sep-23 | % Chg |
| Trading Days | 20 | 20 | 22 | 188 | 187 | |||
| U.S. Equities Industry | 237,154 | 206,831 | 14.7 % | 252,333 | -6.0 % | 2,194,890 | 2,054,761 | 6.8 % |
| MIAX Pearl Volume | 4,054 | 3,730 | 8.7 % | 4,003 | 1.3 % | 37,874 | 32,376 | 17.0 % |
| MIAX Pearl ADV | 203 | 187 | 8.7 % | 182 | 11.4 % | 201 | 173 | 16.4 % |
| MIAX Pearl Market Share | 1.71 % | 1.80 % | -5.2 % | 1.59 % | 7.8 % | 1.73 % | 1.58 % | 9.5 % |
| Futures & Options Trading Volume and Open Interest for MIAX Futures, Current Month | Year-to-Date Comparison | |||||||
| Futures Contracts | Sep-24 | Sep-23 | % Chg | Aug-24 | % Chg | Sep-24 | Sep-23 | % Chg |
| Trading Days | 20 | 20 | 22 | 188 | 187 | |||
| MIAX Futures Volume | 185,195 | 192,064 | -3.6 % | 373,653 | -50.4 % | 2,411,625 | 2,191,523 | 10.0 % |
| MIAX Futures ADV | 9,260 | 9,603 | -3.6 % | 16,984 | -45.5 % | 12,828 | 11,719 | 9.5 % |
| MIAX Futures Open Interest | 79,682 | 75,234 | 5.9 % | 81,709 | -2.5 % | |||
Source: MIH
