Trading Triumphs: MIAX Reports Stellar Volumes Performance

MIAX Exchange Group Reports Impressive Trading Results

Miami International Holdings, Inc. (MIH) has recently acknowledged remarkable trading achievements across its U.S. exchange subsidiaries, including MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire. These exchanges have registered robust numbers, showcasing the transaction activities and volumes for the year to date. As one of the foremost technology-driven leaders in regulated financial markets, MIH continues to underline its position in the trading industry.

Summary of August Trading Volumes

During August, total multi-listed options volume for the MIAX Exchange Group reached 130.7 million contracts, marking a 5.3% decrease from the previous year. Nonetheless, the market share for this category stood at 13.6%, with a dip of 8.6% year-over-year. Year-to-date volume, however, maintained a remarkable figure, hitting 1.1 billion contracts, representing a slight decrease of 1.1% compared to the same timeframe in 2023.

Launch of MIAX Sapphire

On August 12, MIH unveiled MIAX Sapphire, its fourth exchange dedicated to U.S. multi-listed options. The launch began with trading options for IBM, with future plans to roll out additional classes every week until the completion of over 3,800 classes slated for October 21, 2024. Thus far, monthly volumes for the 97 classes available in August reached 1.1 million contracts.

Diverse Performance Across Exchanges

Examining individual performance, MIAX Options experienced an impressive monthly volume of 61.0 million contracts, which translates to a 10.6% increase year-over-year. This led to a market share of 6.3% in August, up by 6.8%, while year-to-date volume reached a record 453.5 million contracts, reflecting a 3.7% rise from last year.

MIAX Pearl and Emerald Performance

Conversely, MIAX Pearl Options faced challenges in August, registering a monthly volume of 30.6 million contracts, down significantly by 47.4%. Its market share dropped to 3.2%, showing a 49.2% decrease year-over-year. Year-to-date, total volume reached 343.2 million contracts, indicating a 23.9% drop from the previous year's figures.

In stark contrast, MIAX Emerald Options thrived with a monthly volume of 39.0 million contracts, demonstrating a remarkable 58.2% increase year-over-year and reaching a market share of 4.1%. This exchange's total year-to-date volume soared to 283.1 million contracts, marking a hefty increase of 38.5% compared to last year.

Broad Equities and Futures Performance

Turning to equities, MIAX Pearl Equities recorded a monthly volume of 4.0 billion shares, witnessing a mild decline of 5.1% year-over-year, with a market share of 1.6%. Year-to-date total volume climbed to a record 33.8 billion shares, an increase of 18.1%. In the futures market, MGEX achieved a monthly volume of 373,659 contracts, reflecting a positive growth of 13.4% year-over-year.

About MIAX and Its Leadership

MIAX is comprised of several trading venues, all of which are registered with the Securities and Exchange Commission. The technology at MIAX is proprietary and designed to optimize the trading experience by enhancing throughput, reliability, and speed – a testament to its commitment to improving financial market outcomes.

The company functions under the leadership of its executive team and builds upon a foundation of innovative practices that keep it at the forefront of the trading industry.

Frequently Asked Questions

What is the overall trading volume for MIAX in August?

The total multi-listed options volume for MIAX in August reached 130.7 million contracts.

How did MIAX Sapphire perform after its launch?

MIAX Sapphire launched positively, achieving a monthly volume of 1.1 million contracts in August.

Which MIAX exchange saw the highest percentage increase?

MIAX Emerald Options experienced the highest growth, with a 58.2% increase year-over-year in August.

What factors contributed to the decline in MIAX Pearl’s options?

MIAX Pearl Options faced challenges leading to a 47.4% decrease in contracts, primarily due to competitive pressures and market dynamics.

What future plans does MIAX have for its exchanges?

MIAX plans to continue expanding its offerings, including additional classes of options on MIAX Sapphire through a weekly rollout until October 2024.

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Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.