Miami International Holdings Reports Trading Results for June 2024; YTD Volumes Reach Record Levels on Multiple Options and Equities Exchanges
PRINCETON, N.J., July 11, 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 June 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(TM)).
June 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 115 million contracts, a 19.1% decrease year-over-year
(YoY). June 2024 market share reached 13.7%, a 15.5% decrease YoY. Total
year-to-date (YTD) volume reached 811.0 million contracts, a 2.3%
decrease from the same period in 2023.
-- MIAX Options reached a monthly volume of 51.2 million contracts, a 10.4%
decrease YoY. June 2024 market share reached 6.1%, a 6.4% decrease YoY.
Total YTD volume reached a record 331.5 million contracts, a 0.1%
increase from the same period in 2023.
-- MIAX Pearl Options reached a monthly volume of 32.2 million contracts, a
45.6% decrease YoY. June 2024 market share reached 3.8%, a 43.1%
decrease YoY. Total YTD volume reached 278.7 million contracts, an 18.6%
decrease from the same period in 2023.
-- MIAX Emerald Options reached a monthly volume of 31.6 million contracts,
a 22.2% increase YoY. June 2024 market share reached 3.8%, a 27.7%
increase YoY. Total YTD volume reached a record 200.8 million contracts,
a 28.5% increase from the same period in 2023.
-- In U.S. equities, MIAX Pearl Equities(TM) reached a monthly volume of
3.0 billion shares, 31.3% decrease YoY and representing a market share
of 1.3%, a 28.1% decrease YoY. Total YTD volume reached a record 25.8
billion shares, a 24.0% increase from the same period in 2023. YTD
market share reached a record 1.8%, an increase of 18.7% 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
346,016 contracts, a 27.4% increase YoY and a 57.1% increase from May
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 Year-to-Date Comparison
MIAX Exchange Group, Current Month
Multi-Listed Options Contracts Jun-24 Jun-23 % Chg May-24 % Chg Jun-24 Jun-23 % Chg
Trading Days 19 21 22 124 124
U.S. Equity Options Industry 837,628,620 875,309,560 -4.3 % 888,512,052 -5.7 % 5,291,681,759 5,063,978,540 4.5 %
MIAX Exchange Group 114,989,271 142,120,689 -19.1 % 130,439,711 -11.8 % 810,990,932 829,863,120 -2.3 %
MIAX Options 51,218,895 57,183,100 -10.4 % 52,569,134 -2.6 % 331,452,604 331,096,501 0.1 %
MIAX Pearl 32,151,900 59,058,771 -45.6 % 43,052,063 -25.3 % 278,700,899 342,516,530 -18.6 %
MIAX Emerald 31,618,476 25,878,818 22.2 % 34,818,514 -9.2 % 200,837,429 156,250,089 28.5 %
Multi-Listed Options ADV Jun-24 Jun-23 % Chg May-24 % Chg Jun-24 Jun-23 % Chg
U.S. Equity Options Industry 44,085,717 41,681,408 5.8 % 40,386,911 9.2 % 42,674,853 40,838,537 4.5 %
MIAX Exchange Group 6,052,067 6,767,652 -10.6 % 5,929,078 2.1 % 6,540,249 6,692,445 -2.3 %
MIAX Options 2,695,731 2,723,005 -1.0 % 2,389,506 12.8 % 2,673,005 2,670,133 0.1 %
MIAX Pearl 1,692,205 2,812,322 -39.8 % 1,956,912 -13.5 % 2,247,588 2,762,230 -18.6 %
MIAX Emerald 1,664,130 1,232,325 35.0 % 1,582,660 5.1 % 1,619,657 1,260,081 28.5 %
Multi-Listed Options Market Share for Year-to-Date Comparison
MIAX Exchange Group, Current Month
Multi-Listed Options Market Share Jun-24 Jun-23 % Chg May-24 % Chg Jun-24 Jun-23 % Chg
MIAX Exchange Group 13.73 % 16.24 % -15.5 % 14.68 % -6.5 % 15.33 % 16.39 % -6.5 %
MIAX Options 6.11 % 6.53 % -6.4 % 5.92 % 3.4 % 6.26 % 6.54 % -4.2 %
MIAX Pearl 3.84 % 6.75 % -43.1 % 4.85 % -20.8 % 5.27 % 6.76 % -22.1 %
MIAX Emerald 3.77 % 2.96 % 27.7 % 3.92 % -3.7 % 3.80 % 3.09 % 23.0 %
Equities Trading Volume for Year-to-Date Comparison
MIAX Pearl Equities, Current Month
Equities Shares (millions) Jun-24 Jun-23 % Chg May-24 % Chg Jun-24 Jun-23 % Chg
Trading Days 19 21 22 124 124
U.S. Equities Industry 225,690 236,192 -4.4 % 274,062 -17.7 % 1,458,681 1,396,922 4.4 %
MIAX Pearl Volume 3,022 4,395 -31.3 % 4,591 -34.2 % 25,847 20,846 24.0 %
MIAX Pearl ADV 159 209 -24.0 % 209 -23.8 % 208 168 24.0 %
MIAX Pearl Market Share 1.34 % 1.86 % -28.1 % 1.68 % -20.1 % 1.77 % 1.49 % 18.7 %
Futures & Options Trading Volume and Open Interest for
MGEX, Year-to-Date Comparison
Current Month
Futures Contracts Jun-24 Jun-23 % Chg May-24 % Chg Jun-24 Jun-23 % Chg
Trading Days 19 21 22 124 124
MGEX Futures Volume 346,016 271,495 27.4 % 220,302 57.1 % 1,627,528 1,424,896 14.2 %
MGEX ADV 18,211 12,928 40.9 % 10,014 81.9 % 13,125 11,491 14.2 %
MGEX Open Interest 79,968 53,926 48.3 % 68,418 16.9 %
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 Sapphire(TM)), Minneapolis Grain Exchange, LLC (MGEX(TM)), Ledger X LLC d/b/a MIAX Derivatives Exchange (MIAXdx), 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(TM). 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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SOURCE MIAX
