Miami International Holdings Reports November 2023 Trading Results; YTD Options and Equities Volumes Remain at Record Levels

PRINCETON, N.J., Dec. 8, 2023 /PRNewswire/ — Miami International Holdings, Inc. today reported November 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™).

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

  • Total multi-listed monthly options volume for the MIAX Exchange Group reached 120.8 million contracts, a 5.0% increase year-over-year (YoY) and representing a monthly market share of 14.75%, an 8.8% increase YoY. Total year-to-date (YTD) volume reached a record 1.5 billion contracts, a 23.3% increase from the same period in 2022.
  • MIAX Options reached a monthly volume of 48.4 million contracts, a 5.4% decrease YoY and representing a monthly market share of 5.91%, a 2.0% decrease YoY. MIAX Options reached a record YTD volume of 582.6 million contracts, up 16.2% from the same period in 2022.
  • MIAX Pearl Options reached a monthly volume of 48.2 million contracts, a 28.1% increase YoY and representing a monthly market share of 5.88%, a 32.8% increase YoY. MIAX Pearl Options reached a record YTD volume of 600.8 million contracts, up 53.1% from the same period in 2022.
  • In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 4.6 billion shares, a 77.6% increase YoY and representing a monthly market share of 2.08%, an 89.0% increase YoY. MIAX Pearl Equities reached a record YTD volume of 42.5 billion shares, up 55.2% from the same period in 2022.
  • In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 328,252 contracts, a 39.4% increase YoY and a 37.7% increase from October 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

Nov-23

Nov-22

% Chg

Oct-23

% Chg

Nov-23

Nov-22

% Chg

Trading Days

21

21

22

230

230

U.S. Equity Options Industry

819,353,114

849,328,703

-3.5 %

881,187,563

-7.0 %

9,260,697,779

8,801,910,138

5.2 %

MIAX Exchange Group

120,847,771

115,108,818

5.0 %

128,285,624

-5.8 %

1,458,725,010

1,183,525,471

23.3 %

MIAX Options

48,435,412

51,219,220

-5.4 %

50,250,770

-3.6 %

582,625,524

501,205,712

16.2 %

MIAX Pearl

48,184,598

37,617,916

28.1 %

53,356,464

-9.7 %

600,756,195

392,385,775

53.1 %

MIAX Emerald

24,227,761

26,271,682

-7.8 %

24,678,390

-1.8 %

275,343,291

289,933,984

-5.0 %

Multi-Listed Options ADV

Nov-23

Nov-22

% Chg

Oct-23

% Chg

Nov-23

Nov-22

% Chg

U.S. Equity Options Industry

39,016,815

40,444,224

-3.5 %

40,053,980

-2.6 %

40,263,903

38,269,175

5.2 %

MIAX Exchange Group

5,754,656

5,481,372

5.0 %

5,831,165

-1.3 %

6,342,283

5,145,763

23.3 %

MIAX Options

2,306,448

2,439,010

-5.4 %

2,284,126

1.0 %

2,533,154

2,179,155

16.2 %

MIAX Pearl

2,294,505

1,791,329

28.1 %

2,425,294

-5.4 %

2,611,983

1,706,025

53.1 %

MIAX Emerald

1,153,703

1,251,032

-7.8 %

1,121,745

2.8 %

1,197,145

1,260,583

-5.0 %

Multi-Listed Options Market Share for

MIAX Exchange Group, Current Month

Year-to-Date Comparison

Multi-Listed Options Market

Share

Nov-23

Nov-22

% Chg

Oct-23

% Chg

Nov-23

Nov-22

% Chg

MIAX Exchange Group

14.75 %

13.55 %

8.8 %

14.56 %

1.3 %

15.75 %

13.45 %

17.1 %

MIAX Options

5.91 %

6.03 %

-2.0 %

5.70 %

3.7 %

6.29 %

5.69 %

10.5 %

MIAX Pearl

5.88 %

4.43 %

32.8 %

6.06 %

-2.9 %

6.49 %

4.46 %

45.5 %

MIAX Emerald

2.96 %

3.09 %

-4.4 %

2.80 %

5.6 %

2.97 %

3.29 %

-9.7 %

Equities Trading Volume for

MIAX Pearl Equities, Current Month

Year-to-Date Comparison

Equities Shares (millions)

Nov-23

Nov-22

% Chg

Oct-23

% Chg

Nov-23

Nov-22

% Chg

Trading Days

21

21

22

230

230

U.S. Equities Industry

221,781

236,072

-6.1 %

234,073

-5.3 %

2,510,615

2,753,705

-8.8 %

MIAX Pearl Volume

4,609

2,595

77.6 %

5,562

-17.1 %

42,548

27,406

55.2 %

MIAX Pearl ADV

219

124

77.6 %

253

-13.2 %

185

119

55.2 %

MIAX Pearl Market Share

2.08 %

1.10 %

89.0 %

2.38 %

-12.5 %

1.69 %

1.00 %

70.3 %

Futures & Options Trading Volume and Open

Interest for MGEX, Current Month

Year-to-Date Comparison

Futures Contracts

Nov-23

Nov-22

% Chg

Oct-23

% Chg

Nov-23

Nov-22

% Chg

Trading Days

21

21

22

230

230

MGEX Total

328,252

235,460

39.4 %

238,404

37.7 %

2,758,179

3,130,896

-11.9 %

Hard Red Spring Wheat – Futures

319,559

197,433

61.8 %

221,592

44.2 %

2,451,456

2,313,580

6.0 %

Hard Red Spring Wheat – Options

5,704

3,935

45.5 %

3,560

60.2 %

71,392

65,181

9.5 %

SPIKES Volatility Index – Futures

2,989

34,092

-91.3 %

13,252

-77.4 %

235,331

752,135

-68.7 %

Average Daily Volume

Nov-23

Nov-22

% Chg

Oct-23

% Chg

Nov-23

Nov-22

% Chg

MGEX Total

15,631

11,212

39.4 %

10,837

44.2 %

11,992

13,613

-11.9 %

Hard Red Spring Wheat – Futures

15,217

9,402

61.8 %

10,072

51.1 %

10,659

10,059

6.0 %

Hard Red Spring Wheat – Options

272

187

45.5 %

162

67.9 %

310

283

9.5 %

SPIKES Volatility Index – Futures

142

1,623

-91.3 %

602

-76.4 %

1,023

3,270

-68.7 %

Open Interest

Nov-23

Nov-22

% Chg

Oct-23

% Chg

MGEX Total

68,716

47,695

44.1 %

88,132

-22.0 %

Hard Red Spring Wheat – Futures

62,620

43,648

43.5 %

78,416

-20.1 %

Hard Red Spring Wheat – Options

5,988

3,591

66.8 %

9,186

-34.8 %

SPIKES Volatility Index – Futures

108

456

-76.3 %

530

-79.6 %

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®), MIAX Sapphire LLC (MIAX Sapphire™), 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. 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
anybo@miaxglobal.com

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