Miami International Holdings, Inc. Reports Record Activity for February 2018; MIAX Exchange Group Sets New Daily and Monthly Records

PRINCETON, New Jersey, March 2, 2018 /PRNewswire/ — Miami International Holdings, Inc. today reported the February 2018 trading activity for its two fully electronic options exchanges – MIAX Options and MIAX PEARL (together, the MIAX Exchange Group). The MIAX Exchange Group collectively executed over 34.9 million contracts in February 2018 for a combined average daily volume (ADV) of 1,837,040 contracts, representing a total U.S. equity options market share of 8.77%.

Detailed volume statistics are as follows:

Trading Volume for MIAX Options and MIAX PEARL,
Monthly Comparison
Year-to-Date Comparison
Total Options Contracts Feb 2018 Feb 2017 % Chg Jan 2018 % Chg Feb 2018 Feb 2017 % Chg
Trading Days 19 19 21 40 39
U.S. Equity Options Industry 398,009,570 284,159,084 40.1% 411,650,134 -3.3% 809,659,704 575,924,258 40.6%
MIAX Exchange Group 34,903,769 19,953,302 74.9% 29,880,942 16.8% 64,784,711 37,288,427 73.7%
MIAX Options 17,292,735 19,435,519 -11.0% 19,137,782 -9.6% 36,430,517 36,770,644 -0.9%
MIAX PEARL 17,611,034 517,783 3301.2% 10,743,160 63.9% 28,354,194 517,783 5376.1%
Options ADV Feb 2018 Feb 2017 % Chg Jan 2018 % Chg Feb 2018 Feb 2017 % Chg
U.S. Equity Options Industry 20,947,872 14,955,741 40.1% 19,602,387 6.9% 20,241,493 14,767,289 37.1%
MIAX Exchange Group 1,837,040 1,050,174 74.9% 1,422,902 29.1% 1,619,618 956,114 69.4%
MIAX Options 910,114 1,022,922 -11.0% 911,323 -0.1% 910,763 942,837 -3.4%
MIAX PEARL 926,897 27,252 3301.2% 511,579 81.2% 708,855 13,276 5239.2%
Market Share Feb 2018 Feb 2017 % Chg Jan 2018 % Chg Feb 2018 Feb 2017 % Chg
MIAX Exchange Group 8.77% 7.02% 24.9% 7.26% 20.8% 8.00% 6.47% 23.6%
MIAX Options 4.34% 6.84% -36.5% 4.65% -6.5% 4.50% 6.38% -29.5%
MIAX PEARL 4.42% 0.18% 2328.3% 2.61% 69.5% 3.50% 0.09% 3795.2%

Other achievements include:

  • MIAX PEARL
    • Celebrated its one-year launch anniversary on February 6, 2018
    • Closed over 5% market share for the first time in February 2018 and established a new daily market share record of 5.56% on February 23, 2018
    • New daily record for contracts during February 2018
      • 1,209,539 contracts executed on February 16, 2018
    • New monthly record for contracts executed during February 2018
      • 17,611,034 contracts executed
    • New monthly market share record during February 2018
      • 4.42% of OCC national volume in equity options
  • MIAX Exchange Group
    • Closed over 10% market share for the first time in February 2018 and established a new daily market share record of 10.60% on February 22, 2018
    • New daily record for contracts during February 2018
      • 2,544,179 contracts executed jointly on MIAX Options and MIAX PEARL on February 2, 2018
    • New monthly record for contracts executed during February 2018
      • 34,903,769 contracts executed jointly on MIAX Options and MIAX PEARL
    • New monthly market share record during February 2018
      • 8.77% of OCC national volume in equity options

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 Options) and MIAX PEARL, LLC (MIAX PEARL and together with MIAX Options, the MIAX Exchange Group), two fully electronic options trading exchanges.

MIAX Options currently lists and trades options on over 2,700 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 16.49 microseconds for a full round trip. At the 99th and 99.9th percentiles, the latency on MIAX Options is approximately 23.71 and 43.68 microseconds, respectively.

MIAX PEARL launched trading operations on February 6, 2017 and currently lists and trades options on over 2,700 multi-listed classes. The average latency for a single order on MIAX PEARL is approximately 24.19 microseconds for a round trip. At the 99th and 99.9th percentiles, the latency on MIAX PEARL is approximately 26.89 and 48.24 microseconds, respectively.

The MIAX Exchange Group has assembled a team with deep rooted experience in developing, operating and trading on options exchanges, and its trading platforms have been developed in-house and designed from the ground up for the unique functional and performance demands of derivatives trading. MIAX Options and MIAX PEARL leverage the MIAX Exchange Group’s industry leading technology and infrastructure to provide their member firms with both traditional (MIAX Options) and maker-taker (MIAX PEARL) pricing structures. The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, New Jersey. The MIAX Exchange Group also maintains a Miami Operations Center in Miami, Florida, which contains the Miami Annual Meeting and Conference Center and the offices of Miami International Technologies, LLC (MIAX Technologies) and MIAX Global, LLC (MIAX Global).

In addition to MIAX Options and MIAX PEARL, MIH is the parent holding company of MIAX Technologies and MIAX Global. MIAX Technologies is MIH’s technology subsidiary for the sale and/or license of the trading technology developed by the MIAX Exchange Group. MIAX Global focuses on merger, acquisition and joint venture activities of MIH.

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 and MIAX PEARL (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.