PR Newswire

Miami International Holdings Reports Trading Results for February 2024; MIAX Exchange Group YTD Options and Equities Volumes at Record Levels while MGEX Futures Volume Surges 30.3%

PRINCETON, N.J., March 7, 2024 /PRNewswire/ — Miami International Holdings, Inc. (MIH) today reported February 2024 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX™).

February 2024 and Year-to-Date Trading Volume and Market Share Highlights

  • Total multi-listed options volume for the MIAX Exchange Group reached a monthly total of 145.3 million contracts, a 6.0% increase year-over-year (YoY) and representing an increase of 3.4% from January 2024. February 2024 market share reached 16.34%, a 2.7% decrease YoY. Total year-to-date (YTD) volume reached a record 285.8 million contracts, a 4.8% increase from the same period in 2023.
  • MIAX Options reached a monthly volume of 58.3 million contracts, a 6.3% increase YoY and a 2.6% increase from January 2024. February 2024 market share reached 6.56%, a 2.4% decrease YoY. Total YTD volume reached a record 115.2 million contracts, a 4.9% increase from the same period in 2023.
  • MIAX Emerald Options reached a monthly volume of 33.6 million contracts, a 22.7% increase YoY and a 6.0% increase from January 2024. February 2024 market share reached 3.78%, a 12.7% increase YoY.
  • In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 4.1 billion shares, a 48.1% increase YoY and representing a market share of 1.73%, a 36.7% increase YoY. Total YTD volume reached a record 8.7 billion shares, a 73.8% increase from the same period in 2023.
  • In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 329,921 contracts, a 30.3% increase YoY and representing a 49.9% increase from January 2024.

Additional MIAX Exchange Group and MGEX 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

Feb-24

Feb-23

% Chg

Jan-24

% Chg

Feb-24

Feb-23

% Chg

Trading Days

20

19

21

41

39

U.S. Equity Options Industry

888,779,369

816,156,925

8.9 %

891,961,535

-0.4 %

1,780,740,904

1,667,456,224

6.8 %

MIAX Exchange Group

145,254,160

137,080,466

6.0 %

140,525,814

3.4 %

285,779,974

272,642,891

4.8 %

MIAX Options

58,313,579

54,863,604

6.3 %

56,855,169

2.6 %

115,168,748

109,832,501

4.9 %

MIAX Pearl

53,312,809

54,820,051

-2.7 %

51,931,661

2.7 %

105,244,470

112,106,488

-6.1 %

MIAX Emerald

33,627,772

27,396,811

22.7 %

31,738,984

6.0 %

65,366,756

50,703,902

28.9 %

Multi-Listed Options ADV

Feb-24

Feb-23

% Chg

Jan-24

% Chg

Feb-24

Feb-23

% Chg

U.S. Equity Options Industry

44,438,968

42,955,628

3.5 %

42,474,359

4.6 %

43,432,705

42,755,288

1.6 %

MIAX Exchange Group

7,262,708

7,214,761

0.7 %

6,691,705

8.5 %

6,970,243

6,990,843

-0.3 %

MIAX Options

2,915,679

2,887,558

1.0 %

2,707,389

7.7 %

2,808,994

2,816,218

-0.3 %

MIAX Pearl

2,665,640

2,885,266

-7.6 %

2,472,936

7.8 %

2,566,938

2,874,525

-10.7 %

MIAX Emerald

1,681,389

1,441,937

16.6 %

1,511,380

11.2 %

1,594,311

1,300,100

22.6 %

Multi-Listed Options Market Share for

MIAX Exchange Group, Current Month

Year-to-Date Comparison

Multi-Listed Options Market
Share

Feb-24

Feb-23

% Chg

Jan-24

% Chg

Feb-24

Feb-23

% Chg

MIAX Exchange Group

16.34 %

16.80 %

-2.7 %

15.75 %

3.7 %

16.05 %

16.35 %

-1.8 %

MIAX Options

6.56 %

6.72 %

-2.4 %

6.37 %

2.9 %

6.47 %

6.59 %

-1.8 %

MIAX Pearl

6.00 %

6.72 %

-10.7 %

5.82 %

3.0 %

5.91 %

6.72 %

-12.1 %

MIAX Emerald

3.78 %

3.36 %

12.7 %

3.56 %

6.3 %

3.67 %

3.04 %

20.7 %

Equities Trading Volume for

MIAX Pearl Equities, Current Month

Year-to-Date Comparison

Equities Shares (millions)

Feb-24

Feb-23

% Chg

Jan-24

% Chg

Feb-24

Feb-23

% Chg

Trading Days

20

19

21

41

39

U.S. Equities Industry

234,704

216,694

8.3 %

242,622

-3.3 %

477,325

443,244

7.7 %

MIAX Pearl Volume

4,062

2,743

48.1 %

4,604

-11.8 %

8,667

4,986

73.8 %

MIAX Pearl ADV

203

144

40.7 %

219

-7.4 %

211

128

65.3 %

MIAX Pearl Market Share

1.73 %

1.27 %

36.7 %

1.90 %

-8.8 %

1.82 %

1.12 %

61.4 %

Futures & Options Trading Volume and Open
Interest for MGEX, Current Month

Year-to-Date Comparison

Futures Contracts

Feb-24

Feb-23

% Chg

Jan-24

% Chg

Feb-24

Feb-23

% Chg

Trading Days

20

19

21

41

39

MGEX Total

329,921

253,274

30.3 %

220,026

49.9 %

549,947

418,874

31.3 %

MGEX Average Daily Volume

16,496

13,330

23.7 %

10,477

57.4 %

13,413

10,740

24.9 %

MGEX Open Interest

71,095

57,070

24.6 %

80,674

-11.9 %

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®), MIAX Sapphire LLC (MIAX SapphireTM), Minneapolis Grain Exchange, LLC (MGEX™), LedgerX LLC (LedgerX), 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 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. MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes.

LedgerX is a CFTC regulated exchange and clearinghouse and is registered as a Designated Contract Market (DCM), Derivatives Clearing Organization (DCO) and Swap Execution Facility (SEF) with the CFTC.

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 U.S. offices located in Chicago, IL and Miami, FL. MGEX offices are located in Minneapolis, MN. LedgerX offices are located in Princeton, N.J. BSX offices are located in Hamilton, Bermuda. Dorman Trading offices are located in Chicago, IL.

To learn more about MIAX visit www.miaxglobal.com.

To learn more about MGEX visit www.miaxglobal.com/mgex.

To learn more about LedgerX visit www.ledgerx.com.

To learn more about BSX visit www.bsx.com.

To learn more about Dorman Trading visit www.dormantrading.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company), and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

Media Contact:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
anybo@miaxglobal.com

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