Miami International Holdings Reports 2019 Trading Results, Market Share and Volume Records for MIAX Exchange Group

PRINCETON, New Jersey, Jan. 29, 2020 /PRNewswire/ — Miami International Holdings, Inc. (MIH) today reported the 2019 year-end trading activity for its three fully electronic options exchanges – MIAX®, MIAX PEARL® and MIAX Emerald™ (together, the MIAX Exchange Group™), with MIAX PEARL, MIAX Emerald and the MIAX Exchange Group setting new market share and volume records over the course of the year.

Trading Volume for MIAX Exchange Group,

Current Month

Year-to-Date Comparison
Equity Options Contracts Dec-19 Dec-18 %Chg. Nov-19 % Chg. Dec-19 Dec-18 % Chg.
Trading Days 21 19 20 252 251
U.S. Equity Options Industry 373,792,463 376,883,978 -0.8% 357,882,106 4.4% 4,420,542,768 4,572,482,342 -3.3%
MIAX Exchange Group 36,464,337 36,720,823 -0.7% 35,880,024 1.6% 439,614,442 421,320,501 4.3%
MIAX 14,723,870 14,935,763 -1.4% 15,451,719 -4.7% 177,085,434 200,711,418 -11.8%
MIAX PEARL 18,507,078 21,785,060 -15.0% 17,121,215 8.1% 233,794,910 220,609,083 6.0%
MIAX Emerald 3,233,389 3,307,090 -2.2% 28,734,098
Equity Options ADV Dec-19 Dec-18 % Chg. Nov-19 % Chg. Dec-19 Dec-18 % Chg.
U.S. Equity Options Industry 17,799,641 19,835,999 -10.3% 17,894,105 -0.5% 17,541,836 18,217,061 -3.7%
MIAX Exchange Group 1,736,397 1,932,675 -10.2% 1,794,001 -3.2% 1,744,502 1,678,568 3.9%
MIAX 701,137 786,093 -10.8% 772,586 -9.2% 702,720 799,647 -12.1%
MIAX PEARL 881,289 1,146,582 -23.1% 856,061 2.9% 927,758 878,921 5.6%
MIAX Emerald 153,971 165,355 -6.9% 114,024
Equity Option Market Share for MIAX Exchange Group,

Current Month

Year-to-Date Comparison
Equity Options Market
Share
Dec-19 Dec-18 % Chg. Nov-19 % Chg. Dec-19 Dec-18 % Chg.
MIAX Exchange Group 9.76% 9.74% 0.1% 10.03% -2.7% 9.94% 9.21% 7.9%
MIAX 3.94% 3.96% -0.6% 4.32% -8.8% 4.01% 4.39% -8.7%
MIAX PEARL 4.95% 5.78% -14.3% 4.78% 3.5% 5.29% 4.82% 9.6%
MIAX Emerald 0.87% 0.92% -6.4% 0.65%

2019 Market Share and Volume Records:

MIAX Exchange Group MIAX Exchange Group Records
Single Day Market Share 11.98% October 7, 2019
Volume 2,901,043 August 23, 2019
Monthly Market Share 10.75% April 2019
Quarterly Market Share 10.06% Q4 2019
MIAX PEARL MIAX PEARL Records
Single Day Market Share 6.79% June 26, 2019
Quarterly Market Share 5.62% Q1 2019
MIAX Emerald MIAX Emerald Records
Single Day Market Share 1.32% April 3, 2019
Volume 249,353 April 3, 2019
Monthly Market Share 0.98% April 2019
Volume 3,614,965 October 2019
Quarterly Market Share 0.90% Q4 2019
Volume 10,155,444 Q4 2019

Other 2019 achievements and announcements include:

MIAX

  • Successfully launched volatility options trading on the SPIKES® Volatility Index (Ticker: SPIKE) on February 19, 2019; its first proprietary trading product.
  • Won the “Most Innovative Exchange Technology” category at the Fund Technology and WSL Awards 2019.

MIAX Emerald

  • Joined the MIAX Exchange Group following a successful launch on March 1, 2019.
  • Reached 1% market share on April 2, 2019, 23 days following launch.

MIH

  • Announced acquisition of a controlling interest in the Bermuda Stock Exchange.
  • Announced partnership with the Minneapolis Grain Exchange, Inc. (MGEX) pursuant to which MGEX will serve as the exclusive exchange to list, trade and clear futures products on the SPIKES Volatility Index, subject to regulatory approval.
  • Announced partnership with Advanced Fundamentals, LLC (Advanced Fundamentals), an owner and developer of next generation beta indexes, to develop a complex of proprietary financial products based on Advanced Fundamentals’ commercial real estate indexes (CRE Indexes) and which are expected be listed exclusively on the MIAX Exchange Group beginning in 2020, subject to regulatory approval.
  • Announced partnership with MidChains, an upcoming digital asset trading exchange based in Abu Dhabi Global Market (ADGM) seeking to operate under the Financial Services Regulatory Authority (FSRA) framework, to pursue joint technology licensing and product listing opportunities internationally, following MIH’s agreement to purchase an equity stake in MEEG Holdings Limited, the parent holding company of MidChains.
  • Announced that it had partnered with a number of industry-leading liquidity providers and market makers to launch MIAX PEARL Equities, a cash equities exchange under MIAX PEARL’s exchange license expected to launch in Q3 2020, subject to SEC approval. Partnering firms include CTC Trading Group, Hudson River Trading, IMC, Simplex Trading, Susquehanna Securities, and Two Sigma Securities.
  • Announced that the Patent Trial and Appeal Board (PTAB) of the United States Patent and Trademark Office invalidated all claims asserted by Nasdaq under six of its patents in its infringement complaint against MIH, determining that all such claims were unpatentable under current law.

For further information regarding the MIAX Exchange Group, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.

Corporate Communications Contact: Dominique Prunetti-Miller
(609) 897-1465
dprunetti@miami-holdings.com

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 fully electronic options trading exchanges.

MIAX, MIAX PEARL and MIAX Emerald 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.

MIH also owns a controlling interest in the Bermuda Stock Exchange.

To learn more about MIH and the MIAX Exchange Group visit www.MIAXOptions.com.

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