Trading Performance Overview
Miami International Holdings, Inc. (MIH) has shared its latest trading update, and the picture across its markets is detailed and instructive. MIH operates a family of regulated exchanges that list and trade options and equities, primarily through subsidiaries such as MIAX and the Minneapolis Grain Exchange (MGEX). Together, these venues handle significant volumes and serve a wide range of participants, from market makers to institutional and retail traders.
August Volume Highlights
In August, the MIAX Exchange Group recorded 130.7 million multi-listed options contracts. That’s a modest 5.3% decline from the same month last year. Even so, year-to-date transactions have crossed 1.1 billion contracts, underscoring steady activity in a competitive backdrop. August tells a clear story: some venues grew, others eased, and the overall system kept moving.
Launch of MIAX Sapphire
On August 12, MIAX Sapphire went live, becoming the fourth national securities exchange focused on U.S. multi-listed options. The platform launched with options on IBM and plans to add more classes over the following weeks. In its first month, trading on MIAX Sapphire reached 1.1 million contracts in August, a measured start for a new venue designed to expand choice and execution paths for options traders.
Exchange-by-Exchange Details
Within the MIAX family, MIAX Options led August activity with 61.0 million contracts, up 10.6% year over year. Its market share reached 6.3% for the month. While share can shift with volatility, product mix, and routing preferences, the year-on-year gain shows consistent participation on this venue.
Mixed Market-Share Trends
Not all platforms moved in the same direction. MIAX Pearl Options saw monthly volume decline 47.4% from a year earlier. By contrast, MIAX Emerald posted strong growth, with contracts traded up 58.2% year over year. Side by side, these figures show how flow can rotate across venues even when it remains within the same exchange group.
Equities Trading Snapshot
On the equities side, MIAX Pearl Equities handled 4.0 billion shares in August. That translated to a 1.6% market share, a touch lower than last year. Year to date, total shares traded reached 33.8 billion, up 18.1% compared with earlier in the year. One month can swing; the longer run points to expansion in equity share volume on the platform.
Futures Volumes on the Rise
Futures trading at Minneapolis Grain Exchange (MGEX), part of Miami International Holdings, also advanced. August volume came in at 373,659 futures contracts, a 13.4% increase from the same month last year. The rise signals growing interest in futures and continued confidence in the MGEX venue’s structure and execution.
About Miami International Holdings
MIAX, operating under Miami International Holdings, Inc., includes exchanges such as MIAX Sapphire, MIAX Pearl, and MGEX. These platforms are built for high-performance trading in options across multiple classes, supported by proprietary technology designed to meet the market’s speed and reliability demands. MIAX also lists cash-settled options on the SPIKES® Volatility Index, providing traders with a tool to measure and position around market volatility.
Frequently Asked Questions
What is MIAX?
MIAX is the Miami International Securities Exchange, part of Miami International Holdings. It operates exchanges that list and trade options and equities for a broad set of market participants.
What recent trading volume milestones were reported?
MIAX said year-to-date trading surpassed 1.1 billion multi-listed options contracts. August added to that total, and the launch of MIAX Sapphire contributed to activity during the month.
Which exchanges are in the MIAX Exchange Group?
The group includes MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire, among others, offering multiple venues for options and equities trading.
How did MIAX Options perform in August?
MIAX Options traded 61.0 million contracts in August, a 10.6% increase from the same month a year ago, with market share at 6.3% for the month.
What role does MGEX play within MIH?
MGEX is MIH’s futures exchange. In August, it reported 373,659 futures contracts traded, a 13.4% year-over-year increase, reflecting interest in its listed futures products.
