MIAX Sapphire Electronic Options Exchange
Launches on August 12, 2024
MIAMI AND PRINCETON,
N.J., Sept. 10, 2024 /PRNewswire/ -- Miami
International Holdings, Inc. (MIH), a technology-driven leader in
building and operating regulated financial markets across multiple
asset classes, today reported August
2024 trading results for its U.S. exchange subsidiaries –
MIAX®, MIAX Pearl® MIAX Emerald®,
and MIAX SapphireTM (collectively, the MIAX Exchange
Group), and Minneapolis Grain Exchange (MGEX™).
August 2024 and Year-to-Date
Trading Volume and Market Share Highlights
- Total multi-listed options volume for the MIAX Exchange Group
reached 130.7 million contracts, a 5.3% decrease year-over-year
(YoY). August 2024 market share
reached 13.6%, an 8.6% decrease YoY. Total year-to-date (YTD)
volume reached 1.1 billion contracts, a 1.1% decrease from the same
period in 2023.
- On August 12, MIH launched MIAX
Sapphire, its fourth national securities exchange for U.S.
multi-listed options, with the rollout of options on its first
class, IBM. MIAX Sapphire will offer trading in additional classes
in multiple phases on a weekly schedule through October 21, 2024. Monthly volume for the 97
classes available for trading in August reached 1.1 million
contracts.
- MIAX Options reached a monthly volume of 61.0 million
contracts, a 10.6% increase YoY. August
2024 market share reached 6.3%, a 6.8% increase YoY. Total
YTD volume reached a record 453.5 million contracts, a 3.7%
increase from the same period in 2023.
- MIAX Pearl Options reached a monthly volume of 30.6 million
contracts, a 47.4% decrease YoY. August
2024 market share reached 3.2%, a 49.2% decrease YoY. Total
YTD volume reached 343.2 million contracts, a 23.9% decrease from
the same period in 2023.
- MIAX Emerald Options reached a monthly volume of 39.0 million
contracts, a 58.2% increase YoY. August
2024 market share reached 4.1%, a 52.7% increase YoY. Total
YTD volume reached a record 283.1 million contracts, a 38.5%
increase from the same period in 2023.
- In U.S. equities, MIAX Pearl Equities™ reached a monthly volume
of 4.0 billion shares, a 5.1% decrease YoY and representing a
market share of 1.6%, an 8.9% decrease YoY. Total YTD volume
reached a record 33.8 billion shares, an 18.1% increase from the
same period in 2023. YTD market share reached a record 1.7%, an
11.4% 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 373,659 contracts, a 13.4% increase YoY.
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
|
Aug-24
|
Aug-23
|
% Chg
|
Jul-24
|
% Chg
|
Aug-24
|
Aug-23
|
% Chg
|
|
Trading
Days
|
22
|
23
|
|
22
|
|
168
|
167
|
|
|
U.S. Equity Options
Industry
|
962,386,101
|
929,123,718
|
3.6 %
|
1,003,350,471
|
-4.1 %
|
7,257,418,331
|
6,797,022,243
|
6.8 %
|
|
MIAX Exchange
Group
|
130,654,104
|
137,982,535
|
-5.3 %
|
138,203,905
|
-5.5 %
|
1,080,900,653
|
1,093,133,331
|
-1.1 %
|
|
MIAX
Options
|
61,027,610
|
55,161,173
|
10.6 %
|
60,991,448
|
0.1 %
|
453,471,662
|
437,401,595
|
3.7 %
|
|
MIAX
Pearl
|
30,611,320
|
58,153,595
|
-47.4 %
|
33,933,367
|
-9.8 %
|
343,245,586
|
451,314,015
|
-23.9 %
|
|
MIAX
Emerald
|
39,015,174
|
24,667,767
|
58.2 %
|
43,279,090
|
-9.9 %
|
283,131,693
|
204,417,721
|
38.5 %
|
|
MIAX
Sapphire(1)
|
1,051,712
|
-
|
-
|
-
|
-
|
1,051,712
|
-
|
-
|
|
Multi-Listed Options
ADV
|
Aug-24
|
Aug-23
|
% Chg
|
Jul-24
|
% Chg
|
Aug-24
|
Aug-23
|
% Chg
|
|
U.S. Equity Options
Industry
|
43,744,823
|
40,396,683
|
8.3 %
|
45,606,840
|
-4.1 %
|
43,198,919
|
40,700,732
|
6.1 %
|
|
MIAX Exchange
Group
|
5,938,823
|
5,999,241
|
-1.0 %
|
6,281,996
|
-5.5 %
|
6,433,932
|
6,545,709
|
-1.7 %
|
|
MIAX
Options
|
2,773,982
|
2,398,312
|
15.7 %
|
2,772,339
|
0.1 %
|
2,699,236
|
2,619,171
|
3.1 %
|
|
MIAX
Pearl
|
1,391,424
|
2,528,417
|
-45.0 %
|
1,542,426
|
-9.8 %
|
2,043,128
|
2,702,479
|
-24.4 %
|
|
MIAX
Emerald
|
1,773,417
|
1,072,512
|
65.4 %
|
1,967,231
|
-9.9 %
|
1,685,308
|
1,224,058
|
37.7 %
|
|
MIAX
Sapphire(1)
|
47,805
|
-
|
-
|
-
|
-
|
6,260
|
-
|
-
|
|
Multi-Listed Options
Market Share for
MIAX Exchange Group,
Current Month
|
Year-to-Date
Comparison
|
|
Multi-Listed Options
Market
Share
|
Aug-24
|
Aug-23
|
% Chg
|
Jul-24
|
% Chg
|
Aug-24
|
Aug-23
|
% Chg
|
|
MIAX Exchange
Group
|
13.58 %
|
14.85 %
|
-8.6 %
|
13.77 %
|
-1.4 %
|
14.89 %
|
16.08 %
|
-7.4 %
|
|
MIAX
Options
|
6.34 %
|
5.94 %
|
6.8 %
|
6.08 %
|
4.3 %
|
6.25 %
|
6.44 %
|
-2.9 %
|
|
MIAX
Pearl
|
3.18 %
|
6.26 %
|
-49.2 %
|
3.38 %
|
-6.0 %
|
4.73 %
|
6.64 %
|
-28.8 %
|
|
MIAX
Emerald
|
4.05 %
|
2.65 %
|
52.7 %
|
4.31 %
|
-6.0 %
|
3.90 %
|
3.01 %
|
29.7 %
|
|
MIAX
Sapphire(1)
|
0.11 %
|
-
|
-
|
-
|
-
|
0.01 %
|
-
|
-
|
|
(1)
|
MIAX Sapphire launched
trading August 12th listing a single class for the first
week, followed by seven additional classes the week of August
19th, and 89 additional classes the week of August
26th. MIAX Sapphire will offer trading in additional
classes in multiple phases on a weekly schedule completing the
rollout of more than 3,800 classes the week of October
21st.
|
|
Equities Trading
Volume for
MIAX Pearl Equities,
Current Month
|
Year-to-Date
Comparison
|
|
Equities Shares
(millions)
|
Aug-24
|
Aug-23
|
% Chg
|
Jul-24
|
% Chg
|
Aug-24
|
Aug-23
|
% Chg
|
|
Trading
Days
|
22
|
23
|
|
22
|
|
168
|
167
|
|
|
U.S. Equities
Industry
|
252,333
|
242,103
|
4.2 %
|
246,723
|
2.3 %
|
1,957,736
|
1,847,930
|
5.9 %
|
|
MIAX Pearl
Volume
|
4,003
|
4,216
|
-5.1 %
|
3,970
|
0.8 %
|
33,820
|
28,646
|
18.1 %
|
|
MIAX Pearl
ADV
|
182
|
183
|
-0.7 %
|
180
|
0.8 %
|
201
|
172
|
17.4 %
|
|
MIAX Pearl Market
Share
|
1.59 %
|
1.74 %
|
-8.9 %
|
1.61 %
|
-1.4 %
|
1.73 %
|
1.55 %
|
11.4 %
|
|
|
Futures &
Options Trading Volume and Open Interest for MGEX,
Current Month
|
Year-to-Date
Comparison
|
|
Futures
Contracts
|
Aug-24
|
Aug-23
|
% Chg
|
Jul-24
|
% Chg
|
Aug-24
|
Aug-23
|
% Chg
|
|
Trading
Days
|
22
|
23
|
|
22
|
|
168
|
167
|
|
|
MGEX Futures
Volume
|
373,653
|
329,483
|
13.4 %
|
225,249
|
65.9 %
|
2,226,430
|
1,999,459
|
11.4 %
|
|
MGEX
ADV
|
16,984
|
14,325
|
18.6 %
|
10,239
|
65.9 %
|
13,253
|
11,973
|
10.7 %
|
|
MGEX Open
Interest
|
81,709
|
63,217
|
29.3 %
|
85,383
|
-4.3 %
|
|
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 Sapphire™), Minneapolis Grain Exchange,
LLC (MGEX™), Ledger X LLC d/b/a MIAX Derivatives Exchange (MIAXdx),
The Bermuda Stock Exchange (BSX) and Dorman Trading, LLC (Dorman
Trading).
MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire 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 four 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.
MIAXdx is a CFTC regulated exchange and clearinghouse and is
registered as a DCM, 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. MIAXdx 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 MIAXdx visit www.miaxdx.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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