MIAX Reports Impressive Trading Volume Growth in March 2025

MIAX Exchange Group Reports Outstanding Trading Results
Miami International Holdings, Inc. (MIH), a leader in financial markets technology, reported remarkable trading results for March 2025 from its U.S. exchange subsidiaries. The MIAX Exchange Group, which includes MIAX, MIAX Pearl, MIAX Emerald, MIAX Sapphire, and MIAX Futures, demonstrated significant growth in options and futures trading volumes.
Trading Volume and Market Share Highlights
Total options volume for the MIAX Exchange Group reached an impressive 173.6 million contracts in March 2025. This represents a considerable year-over-year (YoY) increase of 26.8%, contributing to a record year-to-date (YTD) volume tally of 514.9 million contracts. The market share for options trading in March stood at 15.6%, albeit showing a slight decrease of 2.2% compared to the previous year.
MIAX Sapphire's Performance
MIAX Sapphire notably achieved a record monthly trading volume of 23.4 million contracts, marking a market share of 2.1% in March. Having launched its trading operations successfully with a wide range of classes, MIAX Sapphire now boasts over 3,800 trading classes.
MIAX Options and Pearl Volume Trends
MIAX Options reached new heights with a record monthly volume of 76.4 million contracts, reflecting a YoY increase of 38.6%. Market share for MIAX Options demonstrated a robust increase of 6.9%, settling at 6.8% for March.
Conversely, MIAX Pearl Options reported a monthly volume of 31.4 million contracts, which constituted a 35.1% decrease YoY, resulting in a market share of 2.8%, down sharply by 49.9% from the previous year.
Equities and Futures Trading Stats
In U.S. equities, MIAX Pearl Equities recorded a trading volume of 3.4 billion shares in March. This showed a 23.6% decrease YoY, yielding a market share of only 1.0%.
Focusing on MIAX Futures, this Designated Contract Market (DCM) posted a remarkable monthly volume of 309,006 contracts in March 2025, a stunning increase of 80.4% YoY. MIAX Futures' YTD volume reached an unprecedented 1.1 million contracts by the close of Q1 2025.
Insights on Multi-Listed Options Market Share
The MIAX Exchange Group maintained a commendable market share through March, reporting a steady performance amidst the diverse trading environments. The group's market share for multi-listed options in March registered at 15.55%, reflecting a minor YoY decrease. These trends highlight the variability and competitive landscape of the options market and the evolving dynamics of market share across various exchanges.
Additional Information on Trading Performance
Other highlights include MIAX Emerald's trading volume of 42.5 million contracts this past March, up by 26.7% YoY, leading to a market share of 3.8%. MIAX Futures also cemented its position as a significant player in the futures market, demonstrating continued growth and adaptability.
About MIAX Futures and Exchanges
MIAX, under its holding company Miami International Holdings, operates a suite of national securities exchanges including MIAX and MIAX Pearl, recognized for their innovative trading technologies. These exchanges serve not only options but also cash equities, providing a robust platform tailored to meet the demands of traders.
MIAX Futures distinguishes itself as a CFTC-registered exchange, offering innovative futures contracts like Hard Red Spring Wheat Futures, and operates under a transparent and reliable framework backed by advanced technology solutions.
Headquartered in Princeton, N.J., MIAX emphasizes performance, speed, and reliability in its trading platforms. The company's dedication to advancing technology in financial markets continues to set it apart from competitors, ensuring comprehensive services across various asset classes.
Frequently Asked Questions
What trading volume increase did MIAX report for March 2025?
MIAX reported a total options volume of 173.6 million contracts, marking a 26.8% increase YoY for March 2025.
What is MIAX's market share for options trading in March 2025?
The market share for options trading in March 2025 was 15.6%, a slight decrease of 2.2% from the previous year.
How did MIAX Futures perform in March 2025?
MIAX Futures reached a trading volume of 309,006 contracts in March, representing an impressive 80.4% year-over-year increase.
What challenges did MIAX Pearl Options face recently?
MIAX Pearl Options experienced a notable decline, with a monthly volume decrease of 35.1%, resulting in a market share reduction of 49.9% year-over-year.
Where is MIAX headquartered?
MIAX’s headquarters is located in Princeton, N.J., with additional offices throughout the U.S.
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