MIAX Exchange Group Reports February 2020 Trading Results and New Records; Recognized for Most Innovative Technology for Second Year in a Row at Fund Technology and WSL Awards; Tom Jarck Joins Exchange Group as Volatility Products Specialist

MIAX Exchange Group Reports February 2020 Trading Results and New Records; Recognized for Most Innovative Technology for Second Year in a Row at Fund Technology and WSL Awards; Tom Jarck Joins Exchange Group as Volatility Products Specialist

PR Newswire

PRINCETON, New Jersey, March 3, 2020

PRINCETON, New Jersey, March 3, 2020 /PRNewswire/ -- Miami International Holdings, Inc. (MIH) today reported February 2020 trading results for its three fully electronic options exchanges – MIAX®, MIAX PEARL® and MIAX Emerald™ (together, the MIAX Exchange Group™). The MIAX Exchange Group collectively executed over 55.4 million equity option contracts in February for a combined average daily volume (ADV) of 2,919,913 contracts, representing a total U.S. equity options market share of 10.92%, all of which were new monthly records. Additionally, the MIAX Exchange Group set new daily records for equity option contracts executed (5,199,080) and equity option market share (12.14%), while MIAX, MIAX PEARL and MIAX Emerald all set new individual exchange daily records for contracts executed (2,181,676; 2,780,300; and 257,830, respectively).  

Fund Technology and WSL Awards 2020

MIH is pleased to announce that the MIAX Exchange Group won the "Most Innovative Exchange Technology" category at the Fund Technology and WSL Awards 2020. The Fund Technology and WSL Awards 2020 recognize and reward providers catering to asset managers and institutional traders that have demonstrated exceptional customer service and innovative product development over the past 12 months. This marks the second consecutive year that the MIAX Exchange Group has won this category.

"We are honored to be recognized for our exchange technology for a second year in a row, as we continuously strive for technology innovation and excellence to enable our member firms the best trading experience possible in the exchange marketplace," said Douglas M. Schafer, Jr., Executive Vice President and Chief Information Officer of MIH. "This award represents a great accomplishment for our MIAX technology teams, and we would like to thank the Fund Technology and WSL Awards 2020 judges for again recognizing the MIAX Exchange Group."

Tom Jarck Joins MIAX Exchange Group as Volatility Products Specialist

MIH is further pleased to announce that industry veteran Tom Jarck has joined the MIAX Exchange Group as Volatility Products Specialist. He will be part of the MIAX Business team.

Tom previously worked on several of the largest Wall Street bank equity index volatility trading desks in director and managing director roles, including Citigroup, Deutsche Bank, and most recently at Societe Generale.

Tom's role at the MIAX Exchange Group will be product development, marketing and education, focusing primarily on volatility products that will include options on the SPIKES® Volatility Index (SPIKES; Ticker: SPIKE), listed on MIAX Options, and futures on SPIKES, which will be available on the Minneapolis Grain Exchange (MGEX), subject to regulatory approval.

Commented Shelly Brown, Executive Vice President, Strategic Planning and Business Development of MIH, "We are very pleased to welcome Tom to the MIAX Business team. His expertise and knowledge of the volatility universe that includes trading, technical skills, reputation, exchange mechanics and a vast network of contacts, is truly unmatched in the industry. Tom will be a valuable addition, not only to the MIAX Exchange Group, but also to MGEX and T3 Index, taking a prominent role in the growth of the SPIKES volatility product suite."

Detailed Monthly Trading Results Are as Follows:

 


Trading Volume for MIAX Exchange Group,

Current Month

Year-to-Date Comparison

Equity Options Contracts

Feb-20

Feb-19

% Chg.

Jan-20

% Chg.

Feb-20

Feb-19

% Chg.

Trading Days

19

19


21


40

40


U.S. Equity Options
Industry

508,015,456

316,391,081

60.6%

471,771,710

7.7%

979,787,166

691,614,040

41.7%

MIAX Exchange Group

55,478,341

31,548,214

75.9%

48,596,332

14.2%

104,074,673

68,852,981

51.2%

MIAX

23,177,007

13,553,136

71.0%

20,949,527

10.6%

44,126,534

29,273,024

50.7%

MIAX PEARL

28,680,070

17,995,078

59.4%

23,902,827

20.0%

52,582,897

39,579,957

32.9%

MIAX Emerald

3,621,264

-

-

3,743,978

-3.3%

7,365,242

-

-

Equity Options ADV

Feb-20

Feb-19

% Chg.

Jan-20

% Chg.

Feb-20

Feb-19

% Chg.

U.S. Equity Options Industry

26,737,656

16,652,162

60.6%

22,465,320

19.0%

24,494,679

17,290,351

41.7%

MIAX Exchange Group

2,919,913

1,660,432

75.9%

2,314,111

26.2%

2,601,867

1,721,325

51.2%

MIAX

1,219,842

713,323

71.0%

997,597

22.3%

1,103,163

731,826

50.7%

MIAX PEARL

1,509,477

947,109

59.4%

1,138,230

32.6%

1,314,572

989,499

32.9%

MIAX Emerald

190,593

-

-

178,285

6.9%

184,131

-

-





























Equity Option Market Share for MIAX Exchange Group,

Current Month

Year-to-Date Comparison

Equity Options Market
Share

Feb-20

Feb-19

% Chg.

Jan-20

% Chg.

Feb-20

Feb-19

% Chg.

MIAX Exchange Group

10.92%

9.97%

9.5%

10.30%

6.0%

10.62%

9.96%

6.7%

MIAX

4.56%

4.28%

6.5%

4.44%

2.7%

4.50%

4.23%

6.4%

MIAX PEARL

5.65%

5.69%

-0.7%

5.07%

11.4%

5.37%

5.72%

-6.2%

MIAX Emerald

0.71%

-

-

0.79%

-10.2%

0.75%

-

-


















For further information regarding the MIAX Exchange Group, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com

 

Corporate Communications Contact:

Dominique Prunetti-Miller


(609) 897-1465


dprunetti@miami-holdings.com

About MIH and the MIAX Exchange Group

Miami International Holdings, Inc. (MIH) is the parent holding company of Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX PEARL®) and MIAX Emerald, LLC (MIAX Emerald™ and together with MIAX and MIAX PEARL, the MIAX Exchange Group™), three fully electronic options trading exchanges. MIH also owns a controlling interest in the Bermuda Stock Exchange.  

MIAX, MIAX PEARL and MIAX Emerald leverage the MIAX Exchange Group's industry-leading technology and infrastructure to provide their member firms with traditional pricing and pro rata allocation (MIAX), maker-taker pricing and price-time allocation (MIAX PEARL) market structures, and a hybrid market structure with maker-taker pricing and pro rata allocation (MIAX Emerald).

MIAX Options 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).

The MIAX Exchange Group's executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL.

To learn more about MIH and the MIAX Exchange Group visit www.MIAXOptions.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. 

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