PRINCETON, N.J. and LOS ANGELES, Nov. 13, 2020
PRINCETON, N.J. and LOS ANGELES, Nov. 13, 2020 /PRNewswire/ -- Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX®, MIAX PEARL® and MIAX Emerald® (together, the MIAX Exchange Group™), and Vesica Technologies ("Vesica"), an innovative financial technology company whose products and services make financial data more accessible to individuals, today announced a strategic partnership and that MIH has completed an equity investment in Vesica Technologies.
Through the strategic partnership, Vesica's SHIFT SearchSM (SHIFT) will be made available for options and equities data through the MIAX Exchange Group's website, and will be accessible by any user, free of charge. SHIFT SearchSM will enable everyone to get a better understanding of institutional market flow.
Designed and developed by Vesica, SHIFT provides information on daily market movements, volatility, and major trades, giving traders a "front page view" of financial markets. Now, in collaboration with MIH, anyone from seasoned professionals like brokers and analysts to retail traders with less experience can access this institutional-grade data free of charge.
"We are excited to be partnering with Vesica and offering their SHIFT Search technology to our stakeholders," said Thomas P. Gallagher, Chairman and CEO of MIH. "They have developed a tremendous search product that makes financial data more readily available and easier to leverage to drive informed decision-making. We hope that all traders will take advantage of this free product offering and immediately notice the benefits of using SHIFT Search for their market analysis needs."
"We've entered a new era in which the incoming class of professional traders are used to a more modern user experience, and retail traders don't have the data to see what's happening in the market the way that professionals do," said Saad Hussain, Founder and CEO of Vesica. "Efficiency is the most important currency in finance and we've designed a platform that pays that off. Working with a forward-thinking institution like MIH will help everyone make better decisions by giving them immediate access to the most useful information."
The SHIFT platform is expected to be available through the MIAX Exchange Group's website in the first quarter of 2021.
For further information regarding Vesica, please visit https://www.vesicatech.com/.
Corporate Communications Contact:
Natalie Kay, Karma Agency
Mo Osborne, Bevel
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 national securities exchanges. MIH also owns a controlling interest in the Bermuda Stock Exchange.
MIAX, MIAX PEARL and MIAX Emerald options exchanges 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 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).
Under MIAX PEARL's exchange license, MIAX PEARL Equities™ provides its members with best-in-class performance through a combination of high determinism, low latency and high throughput. MIAX PEARL Equities has maker-taker pricing and a price-time allocation model.
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.
Vesica Technologies creates products and services that make financial data less intimidating (and more useful!) for everyone. Vesica's SHIFT SearchSM minimizes the time and effort it takes anyone –from inexperienced day traders to seasoned market professionals– to see and understand what's going on in financial markets, no matter what asset class they're interested in.
Vesica Technologies is based in sunny Los Angeles, CA.
To learn more about Vesica Technologies visit www.vesicatech.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) or Vesica Technologies (Vesica), 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 and Vesica remain the property of their respective owners. Unless specifically identified as such, the Company and Vesica's use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and either of the Company or Vesica. Any references by the Company and Vesica 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.