Miami International Holdings' Form 1 Application for MIAX PEARL Published by SEC

PRINCETON, N.J., Sept. 14, 2016 /PRNewswire/ -- Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Options Exchange (MIAX Options), today announced that its Form 1 Application for MIAX PEARL has been published by the Securities and Exchange Commission (SEC) in the Federal Register for comment. MIAX PEARL will be MIH's second fully electronic U.S. options exchange and will serve as a counterpart to MIAX Options by providing a price-time allocation model. MIAX PEARL is expected to launch in early 2017, pending SEC approval, and further details about the exchange will be publicized at a later date. 

"The SEC's publication of our Form 1 Application for MIAX PEARL in the Federal Register marks a very important milestone for MIH and brings us another step closer to launching our second options exchange and enabling us to expand into an additional segment of the options market to compete for market share not available to MIAX Options," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. 

Added Barbara J. Comly, Executive Vice President and General Counsel of MIH, "We would like to thank the SEC for all of its support and assistance throughout the entire application process and look forward to working with the SEC further as we prepare for MIAX PEARL's launch in the coming months."   

For further information regarding MIAX Options, please visit www.MIAXOptions.com or contact MIAX Trading Operations at [email protected]. 

Corporate Communications Contact:      
Dominique Prunetti-Miller
(609) 897-1465
[email protected]

About MIH

MIH is the parent holding company of MIAX Options, MIAX PEARL, Miami International Technologies, LLC (MIAX Technologies) and MIAX Global, LLC (MIAX Global). MIAX PEARL will be MIH's second fully electronic options trading exchange and will leverage the industry leading technology and infrastructure developed by MIAX Options to employ a price-time allocation model. The launch of MIAX PEARL is subject to SEC approval. MIAX Technologies is MIH's technology subsidiary for the sale and/or license of the trading technology developed by MIAX Options. MIAX Global focuses on merger, acquisition and joint venture activities of MIH. MIAX Global also provides technology and other services outside of North America, with its initial concentration being on Europe and Latin America.

MIAX Options is MIH's fully electronic options trading exchange. MIAX Options has assembled a team with deep rooted experience in developing, operating and trading on options exchanges. Its trading platform was developed in-house and designed from the ground up for the unique functional and performance demands of derivatives trading. MIAX Options now lists and trades options on over 2,400 multi-listed classes. MIAX Options' unparalleled system throughput is approximately 38 million quotes per second. The average latency for a single quote on MIAX Options is approximately 16.21 microseconds for a full round trip. At the 99th percentile, the latency on MIAX Options is approximately 23.90 microseconds. At the 99.9th percentile, the latency on MIAX Options is approximately 53.71 microseconds. The executive offices and technology development center as well as the National Operations Center for the MIAX Options are located in Princeton, New Jersey.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of MIH, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning the plans, objectives, expectations and intentions and other statements that are not historical or current facts of MIH or its subsidiaries (collectively, the Company). Forward-looking statements include, but are not limited to, statements about the possible or assumed future results of operations of the Company; the competitive position of the Company; potential growth opportunities available to the Company; the expectation with respect to securities, options and future markets and general economic conditions; the effects of competition on the Company's business; and the impact of future legislation and regulatory changes on the Company's business. Forward-looking statements are based on the Company's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements.

SOURCE Miami International Holdings, Inc.