Miami International Holdings Reports Trading Results for March 2024; MIAX Pearl Equities YTD Volumes and Market Share at Record Levels

PRINCETON, N.J., April 5, 2024 /PRNewswire/ — Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes and geographies, today reported March 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™).

March 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 137.0 million contracts, a 15.1% decrease year-over-year (YoY) and representing a decrease of 5.7% from February 2024. March 2024 market share reached 15.9%, a 5.0% decrease YoY. Total year-to-date (YTD) volume reached 422.7 million contracts, a 2.6% decrease from the same period in 2023.
  • MIAX Options reached a monthly volume of 55.1 million contracts, a 13.9% decrease YoY and a 5.5% decrease from February 2024. Total YTD volume reached 170.3 million contracts, a 2.0% decrease from the same period in 2023.
  • MIAX Pearl Options reached a monthly volume of 48.3 million contracts, a 27.0% decrease YoY, and a 9.4% decrease from February 2024. Total YTD volume reached 153.5 million contracts, a 13.9% decrease from the same period in 2023.
  • MIAX Emerald Options reached a monthly volume of 33.6 million contracts, a 7.6% increase YoY and a 0.2% decrease from February 2024. March 2024 market share reached 3.9%, a 20.3% increase YoY. Total YTD volume reached 98.9 million contracts, a 20.8% increase from the same period in 2023.
  • In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 4.5 billion shares, a 1.1% increase YoY and representing a market share of 1.87%, a 20.8% increase YoY. Total YTD volume reached a record 13.2 billion shares, a 39.6% increase from the same period in 2023. YTD market share reached a record 1.83%, an increase of 42.1% 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 171,307 contracts, a 29.4% decrease YoY and representing a 48.1% decrease from February 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

Mar-24

Mar-23

% Chg

Feb-24

% Chg

Mar-24

Mar-23

% Chg


Trading Days

20

23


20


61

62



U.S. Equity Options Industry

861,219,614

963,375,498

-10.6 %

888,779,369

-3.1 %

2,641,960,518

2,630,831,722

0.4 %


MIAX Exchange Group

136,950,995

161,313,643

-15.1 %

145,254,160

-5.7 %

422,730,969

433,956,534

-2.6 %


MIAX Options

55,108,636

63,968,591

-13.9 %

58,313,579

-5.5 %

170,277,384

173,801,092

-2.0 %


MIAX Pearl

48,290,830

66,151,794

-27.0 %

53,312,809

-9.4 %

153,535,300

178,258,282

-13.9 %


MIAX Emerald

33,551,529

31,193,258

7.6 %

33,627,772

-0.2 %

98,918,285

81,897,160

20.8 %


Multi-Listed Options ADV

Mar-24

Mar-23

% Chg

Feb-24

% Chg

Mar-24

Mar-23

% Chg


U.S. Equity Options Industry

43,060,981

41,885,891

2.8 %

44,438,968

-3.1 %

43,310,828

42,432,770

2.1 %


MIAX Exchange Group

6,847,550

7,013,637

-2.4 %

7,262,708

-5.7 %

6,930,016

6,999,299

-1.0 %


MIAX Options

2,755,432

2,781,243

-0.9 %

2,915,679

-5.5 %

2,791,433

2,803,243

-0.4 %


MIAX Pearl

2,414,542

2,876,165

-16.0 %

2,665,640

-9.4 %

2,516,972

2,875,134

-12.5 %


MIAX Emerald

1,677,576

1,356,229

23.7 %

1,681,389

-0.2 %

1,621,611

1,320,922

22.8 %



Multi-Listed Options Market Share for

MIAX Exchange Group, Current Month

Year-to-Date Comparison


Multi-Listed Options Market
Share

Mar-24

Mar-23

% Chg

Feb-24

% Chg

Mar-24

Mar-23

% Chg


MIAX Exchange Group

15.90 %

16.74 %

-5.0 %

16.34 %

-2.7 %

16.00 %

16.50 %

-3.0 %


MIAX Options

6.40 %

6.64 %

-3.6 %

6.56 %

-2.5 %

6.45 %

6.61 %

-2.4 %


MIAX Pearl

5.61 %

6.87 %

-18.3 %

6.00 %

-6.5 %

5.81 %

6.78 %

-14.2 %


MIAX Emerald

3.90 %

3.24 %

20.3 %

3.78 %

3.0 %

3.74 %

3.11 %

20.3 %



Equities Trading Volume for

MIAX Pearl Equities, Current Month

Year-to-Date Comparison

Equities Shares (millions)

Mar-24

Mar-23

% Chg

Feb-24

% Chg

Mar-24

Mar-23

% Chg

Trading Days

20

23


20


61

62


U.S. Equities Industry

240,460

287,366

-16.3 %

234,704

2.5 %

717,786

730,610

-1.8 %

MIAX Pearl Volume

4,485

4,438

1.1 %

4,062

10.4 %

13,152

9,424

39.6 %

MIAX Pearl ADV

224

193

16.2 %

203

10.4 %

216

152

41.8 %

MIAX Pearl Market Share

1.87 %

1.54 %

20.8 %

1.73 %

7.8 %

1.83 %

1.29 %

42.1 %


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

Year-to-Date Comparison

Futures Contracts

Mar-24

Mar-23

% Chg

Feb-24

% Chg

Mar-24

Mar-23

% Chg

Trading Days

20

23


20


61

62


MGEX Total

171,307

242,712

-29.4 %

329,921

-48.1 %

721,254

661,586

9.0 %

MGEX Average Daily Volume

8,565

10,553

-18.8 %

16,496

-48.1 %

11,824

10,671

10.8 %

MGEX Open Interest

75,737

73,365

2.9 %

71,095

6.5 %


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
[email protected]

SOURCE MIAX


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