Miami International Holdings Reports October Trading Results
Miami International Holdings, Inc. (MIH) has proudly announced its trading results for the MIAX Exchange Group and MIAX Futures for the month of October 2024. As a leader in creating and running regulated marketplaces, MIH has experienced substantial growth across its various trading platforms.
Key Metrics and Market Share Insights
The total trading volume of multi-listed options for the MIAX Exchange Group hit 156.1 million contracts, reflecting a solid 21.7% uplift compared to the same period last year. The group's market share for October reached an impressive 15.3%, marking a 5.2% year-over-year increase. Over the year-to-date period, MIAX saw a cumulative volume of 1.4 billion contracts, which is a modest 1.8% enhancement from the prior year.
Highlights from MIAX Sapphire's Performance
MIAX Sapphire played a significant role in this momentum, achieving a noteworthy volume of 17.2 million contracts in October 2024 and a market share of 1.7%. Notably, MIAX Sapphire set a record on October 25 with a historical daily volume of 1.0 million contracts and a market share high of 2.0%. Since its launch on August 12, Sapphire has systematically increased its offerings to over 3,800 classes available for trading, indicating its rapid adaptability to market demands.
Options and Equities Trading Volumes
Looking further into the options segment, MIAX Options recorded an impressive monthly volume of 61.4 million contracts, marking a significant 22.2% year-over-year increase. This growth culminated in a year-to-date total of 567.4 million contracts. On the contrary, MIAX Pearl experienced a decline with 32.7 million contracts traded this October, down by 38.7% compared to the previous year. Meanwhile, MIAX Emerald saw a remarkable 81.4% increase in its monthly volume, totaling 44.8 million contracts, reaching a year-to-date cumulative of 361.4 million contracts.
Equities Trading Performance
In the equities market, MIAX Pearl Equities achieved a trading volume of 4.4 billion shares, representing a decline of 21.0% year-over-year; regardless, the year-to-date figures amount to a historic 42.3 billion shares, a notable 11.4% increase from last year.
Futures Trading Insights
MIAX Futures, recognized as a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), registered a trading volume of 237,249 contracts in October. Although this reflects a minor 0.5% decline compared to the same month last year, the exchange remains well-positioned for future engagements.
About MIAX
Miami International Holdings, Inc. oversees a series of national securities exchanges including MIAX® and MIAX Pearl®, among others. These platforms utilize advanced, proprietary technology developed in-house to facilitate efficient trading for options and equities. MIAX Futures provides a variety of products under regulatory compliance with the CFTC, further enhancing MIAX’s reputation as a comprehensive broker for multiple asset classes.
Frequently Asked Questions
What is the performance overview for MIAX in October 2024?
In October 2024, MIAX reported a total trading volume of 156.1 million multi-listed options contracts, with a year-on-year increase of 21.7%.
How did MIAX Sapphire perform during this period?
MIAX Sapphire reached a record monthly volume of 17.2 million contracts, solidifying its market share at 1.7%.
What are some noted declines in trading volumes?
MIAX Pearl Options saw a significant reduction with a decrease of 38.7% year-over-year, trading only 32.7 million contracts.
How has MIAX's equities trading been trending?
MIAX Pearl Equities reported a trading volume of 4.4 billion shares in October, a 21.0% decrease but maintains an overall increase in year-to-date performance.
What products does MIAX Futures offer?
MIAX Futures facilitates trading across various futures products, ensuring compliance as a DCM and DCO under CFTC regulations, further enhancing its broad offerings.
