MIAX Reports Impressive Trading Results for October
Miami International Holdings, Inc. (MIH), a frontrunner in the financial market's technology sector, has unveiled its trading results, showcasing robust performance across its U.S. exchange subsidiaries in October. This report highlights the significant strides made by MIAX, including MIAX Pearl, MIAX Emerald, and MIAX Sapphire, as they continue to influence the options and equities trading landscape.
Trading Volume and Market Share Overview
In October, the MIAX Exchange Group saw total multi-listed options volume reach an impressive 156.1 million contracts. This marks a notable 21.7% year-over-year increase in trading volume, with the market share climbing to 15.3%, reflecting a 5.2% boost compared to last year. Furthermore, year-to-date (YTD) volume has risen to 1.4 billion contracts, representing a 1.8% increase from 2023.
MIAX Sapphire Achieves Milestones
One of the standout performers, MIAX Sapphire, reached a monthly volume of 17.2 million contracts. Its market share for October stood at 1.7%. A record-breaking daily trading volume of 1.0 million contracts was achieved on October 25, with the exchange demonstrating remarkable growth since its launch on August 12. MIAX Sapphire has expanded its trading classes to over 3,800, ensuring a diverse offering for traders.
Performance of MIAX Options and Other Exchanges
MIAX Options posted a monthly trading volume of 61.4 million contracts, witnessing a significant 22.2% increase year-over-year. For the month, MIAX Options market share reached 6.0%, marking a 5.6% rise from last year. Meanwhile, MIAX Pearl Options experienced a decrease, with a trading volume of 32.7 million contracts, a drop of 38.7%, leading to a YTD volume of 404.7 million contracts.
Equities and Futures Trading Insights
In the realm of U.S. equities, MIAX Pearl Equities reported a trading volume of 4.4 billion shares in October, which saw a decline of 21.0% year-over-year. Nonetheless, the YTD volume for 2023 has reached a record 42.3 billion shares, up 11.4% from the previous year. In futures trading, MIAX Futures also demonstrated resilience, with a monthly volume of 237,249 contracts, illustrating a slight decrease of 0.5% compared to last year.
Key Highlights from Trading Activities
- October 2024 total multi-listed options volume: 156.1 million contracts
- Market share for MIAX Exchange Group: 15.3%
- MIAX Sapphire's record daily volume and extensive trading classes facilitate robust trading activities.
- Despite a drop in some areas, overall YTD trading volumes reflect a healthy trading environment.
About MIAX and Its Operations
MIAX's parent holding company, Miami International Holdings, Inc., owns multiple exchanges, including MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire. Each exchange operates using the company’s proprietary technology, designed to meet the high demands of U.S. options trading.
MIAX Futures, also a part of MIH, offers a variety of products including derivatives and futures contracts, standing out as a Designated Contract Market (DCM) and a Derivatives Clearing Organization (DCO) under the Commodity Futures Trading Commission (CFTC) regulations.
Frequently Asked Questions
What was the total volume of options traded in October 2024?
The MIAX Exchange Group reported a total volume of 156.1 million multi-listed options contracts in October 2024.
How did MIAX Sapphire perform in trading?
MIAX Sapphire achieved a monthly volume of 17.2 million contracts, with a market share of 1.7% and a record daily volume of 1.0 million contracts noted on October 25.
What are the YTD trading volumes for MIAX Options?
For the year-to-date, MIAX Options achieved a record trading volume of 567.4 million contracts, reflecting a 6.2% increase from the same period last year.
Is MIAX Pearl experiencing growth or decline?
MIAX Pearl Options recorded a decrease in trading volume by 38.7% year-over-year, indicating challenges in this area.
What products are offered by MIAX Futures?
MIAX Futures offers trading in various products, including derivatives and futures contracts, and operates as a DCM and DCO regulated by the CFTC.
