PRINCETON, N.J., Nov. 18, 2015 /PRNewswire/ -- MIAX Options Exchange (MIAX®) announced today that Joseph S. Bracco has been hired as its Senior Vice President – Head of Sales. His duties will include leading the MIAX sales teams and expanding MIAX's institutional client base.
Joe brings over 30 years of derivatives industry experience to MIAX, having most recently been Senior Vice President, Head of Institutional and Strategic Relations for BATS Global Markets, where he increased its institutional relationship base to approximately 400 clients. Prior to that, Joe served as Senior Vice President, Head of U.S. Sales, for BATS' Cash Equities and Equity Options Exchanges, helping to establish BATS as a global exchange operator. Before joining BATS, Joe spent 22 years at Cantor Fitzgerald LLP, beginning his career there as U.S. Treasury bond and swaps broker and ultimately becoming a Partner and Senior Vice President.
"We are excited to announce Joe's appointment to the MIAX management team," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. "Joe's leadership and experience in the derivatives industry, particularly in sales, will make him an immediate asset to MIAX as we continue to expand our business and client base. We look forward to him leading our sales efforts and helping us to achieve our business initiatives."
About MIAX Options and MIH
MIAX Options, which commenced operations on December 7, 2012, is a fully electronic options trading exchange approved by the SEC as a national securities exchange on December 3, 2012. MIAX Options has assembled a team with deep rooted experience in developing, operating and trading on options exchanges. Its trading platform has been 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 2,300 multi-listed classes. MIAX Option's unparalleled system throughput is approximately 27 million quotes per second. The average latency for a single quote on MIAX Options is approximately 28.89 microseconds for a full round trip. At the 99th percentile, the latency on MIAX Options is approximately 43.90 microseconds. At the 99.9th percentile, the latency on MIAX Options is approximately 79.01 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.
MIAX Options, Miami International Technologies, LLC (MIAX Technologies) and MIAX Global, LLC (MIAX Global) are wholly-owned subsidiaries of Miami International Holdings, Inc. (MIH). MIAX Technologies is MIH's technology subsidiary for the sale and/or license of MIAX trading technology. 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.
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, together with its subsidiaries, including MIAX Options (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 MIAX Options Exchange