PR Newswire

Miami International Holdings Reports August 2023 Trading Results; MIAX Pearl Equities Hits Record 2.17% Daily Market Share with Options Volume Surging 26.5% to Record YTD Level

PRINCETON, N.J., Sept. 8, 2023 /PRNewswire/ — Miami International Holdings, Inc. today reported August 2023 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX™).

August 2023 and Year-to-Date Trading Volume Highlights

  • Total multi-listed monthly options volume for the MIAX Exchange Group reached 138.0 million contracts, a 27.7% increase year-over-year (YoY) and representing a monthly market share of 14.85%, a 16.1% increase YoY. Total year-to-date (YTD) volume reached a record 1.1 billion contracts, a 26.5% increase YoY.
  • MIAX Options reached a monthly volume of 55.2 million contracts, a 17.4% increase YoY and representing a monthly market share of 5.94%, a 6.8% increase YoY. MIAX Options reached a record YTD volume of 437.4 million contracts, up 21.3% from the same period in 2022.
  • MIAX Pearl Options reached a monthly volume of 58.2 million contracts, a 62.9% increase YoY and representing a monthly market share of 6.26%, a 48.2% increase YoY. MIAX Pearl Options reached a record YTD volume of 451.3 million contracts, up 57.8% from the same period in 2022.
  • MIAX Emerald reached a monthly volume of 24.7 million contracts, a 2.9% decrease YoY and representing a monthly market share of 2.65%, an 11.7% decrease YoY.
  • In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 4.2 billion shares, a 75.9% increase YoY and representing a monthly market share of 1.74%, a 76.8% increase YoY. MIAX Pearl Equities set a new daily market share record of 2.17% on August 25th and reached a record YTD volume of 28.6 billion shares, a 46.0% increase YoY.
  • In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 329,483 contracts, a 12.5% decrease YoY and a 34.4% increase from July 2023.
  • SPIKES® Futures volume totaled 26,687 contracts in August 2023, representing an 83.4% decrease YoY and an average daily volume of 1,160 contracts.

Additional MIAX Exchange Group volume information is included in the tables below.

Multi-Listed Options Trading Volume for

 MIAX Exchange Group, Current Month

Year-to-Date Comparison

Multi-Listed Options
Contracts

Aug-23

Aug-22

% Chg

Jul-23

% Chg

Aug-23

Aug-22

% Chg

Trading Days

23

23

20

167

167

U.S. Equity Options Industry

929,123,718

845,104,433

9.9 %

803,919,985

15.6 %

6,797,022,243

6,285,805,288

8.1 %

MIAX Exchange Group

137,982,535

108,079,977

27.7 %

125,287,676

10.1 %

1,093,133,331

863,818,014

26.5 %

MIAX Options

55,161,173

46,972,524

17.4 %

51,143,921

7.9 %

437,401,595

360,617,154

21.3 %

MIAX Pearl

58,153,595

35,696,808

62.9 %

50,643,890

14.8 %

451,314,015

286,036,788

57.8 %

MIAX Emerald

24,667,767

25,410,645

-2.9 %

23,499,865

5.0 %

204,417,721

217,164,072

-5.9 %

Multi-Listed Options ADV

Aug-23

Aug-22

% Chg

Jul-23

% Chg

Aug-23

Aug-22

% Chg

U.S. Equity Options Industry

40,396,683

36,743,671

9.9 %

40,195,999

0.5 %

40,700,732

37,639,553

8.1 %

MIAX Exchange Group

5,999,241

4,699,129

27.7 %

6,264,384

-4.2 %

6,545,709

5,172,563

26.5 %

MIAX Options

2,398,312

2,042,284

17.4 %

2,557,196

-6.2 %

2,619,171

2,159,384

21.3 %

MIAX Pearl

2,528,417

1,552,035

62.9 %

2,532,195

-0.1 %

2,702,479

1,712,795

57.8 %

MIAX Emerald

1,072,512

1,104,811

-2.9 %

1,174,993

-8.7 %

1,224,058

1,300,384

-5.9 %

Multi-Listed Options Market Share for

MIAX Exchange Group, Current Month

Year-to-Date Comparison

Multi-Listed Options Market
Share

Aug-23

Aug-22

% Chg

Jul-23

% Chg

Aug-23

Aug-22

% Chg

MIAX Exchange Group

14.85 %

12.79 %

16.1 %

15.58 %

-4.7 %

16.08 %

13.74 %

17.0 %

MIAX Options

5.94 %

5.56 %

6.8 %

6.36 %

-6.7 %

6.44 %

5.74 %

12.2 %

MIAX Pearl

6.26 %

4.22 %

48.2 %

6.30 %

-0.6 %

6.64 %

4.55 %

45.9 %

MIAX Emerald

2.65 %

3.01 %

-11.7 %

2.92 %

-9.2 %

3.01 %

3.45 %

-12.9 %

Equities Trading Volume for

MIAX Pearl Equities, Current Month

Year-to-Date Comparison

Equities Shares (millions)

Aug-23

Aug-22

% Chg

Jul-23

% Chg

Aug-23

Aug-22

% Chg

Trading Days

23

23

20

167

167

U.S. Equities Industry

242,103

243,296

-0.5 %

208,905

15.9 %

1,847,930

2,036,953

-9.3 %

MIAX Pearl Volume

4,216

2,396

75.9 %

3,583

17.7 %

28,646

19,624

46.0 %

MIAX Pearl ADV

183

104

75.9 %

179

2.3 %

172

118

46.0 %

MIAX Pearl Market Share

1.74 %

0.98 %

76.8 %

1.72 %

1.5 %

1.55 %

0.96 %

60.9 %

Futures & Options Trading Volume for

MGEX, Current Month

Year-to-Date Comparison

Futures & Options Contracts

Aug-23

Aug-22

% Chg

Jul-23

% Chg

Aug-23

Aug-22

% Chg

Trading Days

23

23

20

167

167

MGEX Futures Volume

329,483

376,441

-12.5 %

245,080

34.4 %

1,999,459

2,400,396

-16.7 %

MGEX ADV

14,325

16,367

-12.5 %

12,254

16.9 %

11,973

14,374

-16.7 %

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™), 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 (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 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 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.mgex.com.

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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