Miami International Holdings Reports Trading Results for November 2024; Multi-listed Options Market Share Up 9.3% with Record Volume across Multiple Options and Equities Exchanges
MIAX Sapphire Reaches 1.8% Market Share
MIAMI and PRINCETON, N.J., Dec. 4, 2024 /PRNewswire/ -- Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today reported November 2024 trading results for its U.S. exchange subsidiaries - MIAX(®), MIAX Pearl(®), MIAX Emerald(®) and MIAX Sapphire(TM) (collectively, the MIAX Exchange Group), and MIAX Futures(TM).
November 2024 and Year-to-Date Trading Volume and Market Share Highlights
-- Total multi-listed options volume for the MIAX Exchange Group reached a
record 163.0 million contracts in November 2024, a 34.9% increase
year-over-year (YoY). November 2024 market share reached 16.1%, a 9.3%
increase YoY. Total year-to-date (YTD) volume reached a record 1.5
billion contracts, a 4.5% increase from the same period in 2023.
-- MIAX Sapphire reached a monthly volume of 18.5 million contracts, with
November 2024 market share reaching 1.8%. On November 15, MIAX Sapphire
set a daily volume record of 1.2 million contracts. MIAX Sapphire
launched trading on August 12 and now has over 3,800 classes available
for trading.
-- MIAX Options reached a monthly volume of 60.8 million contracts, a 25.5%
increase YoY. November 2024 market share reached 6.0%, a 1.7% increase
YoY. Total YTD volume reached a record 628.2 million contracts, a 7.8%
increase from the same period in 2023.
-- MIAX Pearl Options reached a monthly volume of 32.0 million contracts, a
33.6% decrease YoY. November 2024 market share reached 3.2%, a 46.2%
decrease YoY. Total YTD volume reached 436.7 million contracts, a 27.3%
decrease from the same period in 2023.
-- MIAX Emerald reached a record monthly volume of 51.7 million contracts,
a 113.5% increase YoY. November 2024 market share reached 5.1%, a 73.1%
increase YoY. Total YTD volume reached a record 413.1 million contracts,
a 50.0% increase from the same period in 2023.
-- In U.S. equities, MIAX Pearl Equities(TM) reached a monthly volume of
3.8 billion shares, an 18.3% decrease YoY and representing a market
share of 1.3%, a 37.9% decrease YoY. Total YTD volume reached a record
46.0 billion shares, an 8.2% increase from the same period in 2023. YTD
market share reached 1.7%, a 1.4% decrease from the same period in 2023.
-- In U.S. futures, MIAX Futures, a Designated Contract Market (DCM) and
Derivatives Clearing Organization (DCO), reached a monthly volume of
342,348 contracts, a 4.3% increase YoY.
Additional MIAX Exchange Group and MIAX Futures 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 Nov-24 Nov-23 % Chg Oct-24 % Chg Nov-24 Nov-23 % Chg
Contracts
Trading Days 20 21 23 231 230
U.S. Equity Options Industry 1,010,941,318 819,353,114 23.4 % 1,019,395,795 -0.8 % 10,166,855,223 9,260,697,779 9.8 %
MIAX Exchange Group 163,035,002 120,847,771 34.9 % 156,101,259 4.4 % 1,524,638,002 1,458,725,010 4.5 %
MIAX Options 60,797,990 48,435,412 25.5 % 61,385,978 -1.0 % 628,213,214 582,625,524 7.8 %
MIAX Pearl 32,006,908 48,184,598 -33.6 % 32,700,382 -2.1 % 436,718,113 600,756,195 -27.3 %
MIAX Emerald 51,730,078 24,227,761 113.5 % 44,769,481 15.5 % 413,104,537 275,343,291 50.0 %
MIAX Sapphire 18,500,026 17,245,418 7.3 % 46,602,138
Multi-Listed Options ADV Nov-24 Nov-23 % Chg Oct-24 % Chg Nov-24 Nov-23 % Chg
U.S. Equity Options Industry 50,547,066 39,016,815 29.6 % 44,321,556 14.0 % 44,012,360 40,263,903 9.3 %
MIAX Exchange Group 8,151,750 5,754,656 41.7 % 6,787,011 20.1 % 6,600,165 6,342,283 4.1 %
MIAX Options 3,039,900 2,306,448 31.8 % 2,668,956 13.9 % 2,719,538 2,533,154 7.4 %
MIAX Pearl 1,600,345 2,294,505 -30.3 % 1,421,756 12.6 % 1,890,555 2,611,983 -27.6 %
MIAX Emerald 2,586,504 1,153,703 124.2 % 1,946,499 32.9 % 1,788,331 1,197,145 49.4 %
MIAX Sapphire 925,001 749,801 23.4 % 201,741
Multi-Listed Options Market Share for Year-to-Date Comparison
MIAX Exchange Group, Current Month
Multi-Listed Options Market Nov-24 Nov-23 % Chg Oct-24 % Chg Nov-24 Nov-23 % Chg
Share
MIAX Exchange Group 16.13 % 14.75 % 9.3 % 15.31 % 5.3 % 15.00 % 15.75 % -4.8 %
MIAX Options 6.01 % 5.91 % 1.7 % 6.02 % -0.1 % 6.18 % 6.29 % -1.8 %
MIAX Pearl 3.17 % 5.88 % -46.2 % 3.21 % -1.3 % 4.30 % 6.49 % -33.8 %
MIAX Emerald 5.12 % 2.96 % 73.1 % 4.39 % 16.5 % 4.06 % 2.97 % 36.7 %
MIAX Sapphire 1.83 % 1.69 % 8.2 % 0.46 %
(1) MIAX Sapphire launched trading on August 12, 2024, listing a single class for the first week and additional classes in multiple
phases on a weekly schedule through the week of October 21, 2024 with over 3,800 classes now available for trading.
Equities Trading Volume for Year-to-Date Comparison
MIAX Pearl Equities, Current Month
Equities Shares (millions) Nov-24 Nov-23 % Chg Oct-24 % Chg Nov-24 Nov-23 % Chg
Trading Days 20 21 23 231 230
U.S. Equities Industry 292,020 221,781 31.7 % 268,304 8.8 % 2,755,214 2,510,615 9.7 %
MIAX Pearl Volume 3,767 4,609 -18.3 % 4,397 -14.3 % 46,038 42,548 8.2 %
MIAX Pearl ADV 188 219 -14.2 % 191 -1.5 % 199 185 7.7 %
MIAX Pearl Market Share 1.29 % 2.08 % -37.9 % 1.64 % -21.3 % 1.67 % 1.69 % -1.4 %
Futures and Options Trading Volume and Open Interest
for MIAX Year-to-Date Comparison
Futures, Current Month
Futures & Options Contracts Nov-24 Nov-23 % Chg Oct-24 % Chg Nov-24 Nov-23 % Chg
Trading Days 20 21 23 231 230
MIAX Futures Volume 342,348 328,252 4.3 % 237,249 44.3 % 2,991,222 2,758,179 8.4 %
MIAX Futures ADV 17,117 15,631 9.5 % 10,315 65.9 % 12,949 11,992 8.0 %
MIAX Futures Open Interest 82,183 68,716 19.6 % 83,963 -2.1 %
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)), MIAX Futures Exchange, LLC (MIAX Futures(TM)), MIAX Derivatives Exchange (MIAXdx(TM)), 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(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 Futures 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. MIAX Futures 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 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. MIAX Futures 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 MIAX Futures visit www.miaxglobal.com/miax-futures.
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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