Miami International Holdings Reports October 2023 Trading Results; YTD Options and Equities Volumes at Record Levels with MIAX Pearl Equities Reaching a Record 2.38% Market Share

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Nov 07, 2023, 09:15 ET

PRINCETON, N.J., Nov. 7, 2023 /PRNewswire/ -- Miami International Holdings, Inc. today reported October 2023 trading results for its U.S. exchange subsidiaries – MIAX^®, MIAX Pearl^® and MIAX Emerald^® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX™).

October 2023 and Year-to-Date Trading Volume and Market Share Highlights

Total multi-listed monthly options volume for the MIAX Exchange Group reached 128.3 million contracts, a 19.6% increase year-over-year (YoY) and representing a monthly market share of 14.56%, a 12.6% increase YoY. Total year-to-date (YTD) volume reached a record 1.3 billion contracts, a 25.2% increase YoY.
MIAX Options reached a monthly volume of 50.3 million contracts, an 8.2% increase YoY and representing a monthly market share of 5.70%, a 1.9% increase YoY. MIAX Options reached a record YTD volume of 534.2 million contracts, up 18.7% from the same period in 2022.
MIAX Pearl Options reached a monthly volume of 53.4 million contracts, a 48.8% increase YoY and representing a monthly market share of 6.06%, a 40.1% increase YoY. MIAX Pearl Options reached a record YTD volume of 552.6 million contracts, up 55.8% from the same period in 2022.
In U.S. equities, MIAX Pearl Equities™ set a number of records including a monthly volume of 5.6 billion shares, a 114.3% increase YoY and representing a record monthly market share of 2.38%, a 120.9% increase YoY. MIAX Pearl Equities reached a record YTD volume of 37.9 billion shares, up 51.7% from the same period in 2022. In addition, MIAX Pearl Equities set a daily market share record of 2.77% on October 19, 2023, with a record daily volume of 333.2 million shares.
In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 238,404 contracts, a 29.0% increase YoY and a 24.1% increase from September 2023.

Additional MIAX Exchange Group and MGEX trading volume and market share information are included in the tables below.

	Multi-Listed Options Trading Volume for MIAX Exchange Group, Current Month					Year-to-Date Comparison
Multi-Listed Options Contracts	Oct-23	Oct-22	% Chg	Sep-23	% Chg	Oct-23	Oct-22	% Chg
Trading Days	22	21		20		209	209
U.S. Equity Options Industry	881,187,563	829,648,516	6.2 %	763,134,859	15.5 %	8,441,344,665	7,952,581,435	6.1 %
MIAX Exchange Group	128,285,624	107,262,817	19.6 %	116,458,284	10.2 %	1,337,877,239	1,068,416,653	25.2 %
MIAX Options	50,250,770	46,440,650	8.2 %	46,537,747	8.0 %	534,190,112	449,986,492	18.7 %
MIAX Pearl	53,356,464	35,849,633	48.8 %	47,901,118	11.4 %	552,571,597	354,767,859	55.8 %
MIAX Emerald	24,678,390	24,972,534	-1.2 %	22,019,419	12.1 %	251,115,530	263,662,302	-4.8 %
Multi-Listed Options ADV	Oct-23	Oct-22	% Chg	Sep-23	% Chg	Oct-23	Oct-22	% Chg
U.S. Equity Options Industry	40,053,980	39,507,072	1.4 %	38,156,743	5.0 %	40,389,209	38,050,629	6.1 %
MIAX Exchange Group	5,831,165	5,107,753	14.2 %	5,822,914	0.1 %	6,401,327	5,112,041	25.2 %
MIAX Options	2,284,126	2,211,460	3.3 %	2,326,887	-1.8 %	2,555,934	2,153,045	18.7 %
MIAX Pearl	2,425,294	1,707,125	42.1 %	2,395,056	1.3 %	2,643,883	1,697,454	55.8 %
MIAX Emerald	1,121,745	1,189,168	-5.7 %	1,100,971	1.9 %	1,201,510	1,261,542	-4.8 %
	Multi-Listed Options Market Share for MIAX Exchange Group, Current Month					Year-to-Date Comparison
Multi-Listed Options Market Share	Oct-23	Oct-22	% Chg	Sep-23	% Chg	Oct-23	Oct-22	% Chg
MIAX Exchange Group	14.56 %	12.93 %	12.6 %	15.26 %	-4.6 %	15.85 %	13.43 %	18.0 %
MIAX Options	5.70 %	5.60 %	1.9 %	6.10 %	-6.5 %	6.33 %	5.66 %	11.8 %
MIAX Pearl	6.06 %	4.32 %	40.1 %	6.28 %	-3.5 %	6.55 %	4.46 %	46.7 %
MIAX Emerald	2.80 %	3.01 %	-7.0 %	2.89 %	-2.9 %	2.97 %	3.32 %	-10.3 %

	Equities Trading Volume for MIAX Pearl Equities, Current Month					Year-to-Date Comparison
Equities Shares (millions)	Oct-23	Oct-22	% Chg	Sep-23	% Chg	Oct-23	Oct-22	% Chg
Trading Days	22	21		20		209	209
U.S. Equities Industry	234,073	241,264	-3.0 %	206,831	13.2 %	2,288,834	2,517,634	-9.1 %
MIAX Pearl Volume	5,562	2,595	114.3 %	3,730	49.1 %	37,938	25,004	51.7 %
MIAX Pearl ADV	253	124	104.6 %	187	35.6 %	182	120	51.7 %
MIAX Pearl Market Share	2.38 %	1.08 %	120.9 %	1.80 %	31.8 %	1.66 %	0.99 %	66.9 %

	Futures & Options Trading Volume and Open Interest for MGEX, Current Month					Year-to-Date Comparison
Futures Contracts	Oct-23	Oct-22	% Chg	Sep-23	% Chg	Oct-23	Oct-22	% Chg
Trading Days	22	21		20		209	209
MGEX Total	238,404	184,807	29.0 %	192,064	24.1 %	2,429,927	2,895,436	-16.1 %
Hard Red Spring Wheat – Futures	221,592	136,879	61.9 %	171,059	29.5 %	2,131,897	2,116,147	0.7 %
Hard Red Spring Wheat – Options	3,560	3,234	10.1 %	2,839	25.4 %	65,688	61,246	7.3 %
SPIKES Volatility Index – Futures	13,252	44,694	-70.3 %	18,166	-27.1 %	232,342	718,043	-67.6 %
Average Daily Volume	Oct-23	Oct-22	% Chg	Sep-23	% Chg	Oct-23	Oct-22	% Chg
MGEX Total	10,837	8,800	23.1 %	9,603	12.9 %	11,626	13,854	-16.1 %
Hard Red Spring Wheat – Futures	10,072	6,518	54.5 %	8,553	17.8 %	10,200	10,125	0.7 %
Hard Red Spring Wheat – Options	162	154	5.2 %	142	14.1 %	314	293	7.3 %
SPIKES Volatility Index – Futures	602	2,128	-71.7 %	908	-33.7 %	1,112	3,436	-67.6 %
Open Interest	Oct-23	Oct-22	% Chg	Sep-23	% Chg
MGEX Total	88,132	63,330	39.2 %	75,234	17.1 %
Hard Red Spring Wheat – Futures	78,416	54,681	43.4 %	67,764	15.7 %
Hard Red Spring Wheat – Options	9,186	8,108	13.3 %	6,725	36.6 %
SPIKES Volatility Index – Futures	530	541	-2.0 %	745	-28.9 %

About MIAX
MIAX's parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX^®), MIAX PEARL, LLC (MIAX Pearl^®), MIAX Emerald, LLC (MIAX Emerald^®), Minneapolis Grain Exchange, LLC (MGEX™), LedgerX LLC (LedgerX), The Bermuda Stock Exchange (BSX) and Dorman Trading, LLC (Dorman Trading).

MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX's in-house built, proprietary technology. MIAX offers trading of options on all three exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism. MIAX also serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).

MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Hard Red Spring Wheat Futures and also serves as the exclusive market for SPIKES Futures. MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes.

LedgerX is a CFTC regulated exchange and clearinghouse and is registered as a Designated Contract Market (DCM), Derivatives Clearing Organization (DCO) and Swap Execution Facility (SEF) with the CFTC.

BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.

Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.

MIAX's executive offices and National Operations Center are located in Princeton, N.J., with additional U.S. offices located in Miami, FL. MGEX offices are located in Minneapolis, MN. LedgerX offices are located in Princeton, N.J. BSX offices are located in Hamilton, Bermuda. Dorman Trading offices are located in Chicago, IL.

To learn more about MIAX visit www.miaxglobal.com.

To learn more about MGEX visit www.mgex.com.

To learn more about LedgerX visit www.ledgerx.com.

To learn more about BSX visit www.bsx.com.

To learn more about Dorman Trading visit www.dormantrading.com.

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 Miami International Holdings, Inc. (together with its subsidiaries, the Company), 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. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company's use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

Media Contact:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
[email protected]

SOURCE MIAX