Miami International Holdings, Inc. Reports October 2017 Trading Activity for MIAX Options and MIAX PEARL; MIAX PEARL Executes 10% of Industry Simple SPY Contract Volume and Sets New Daily Record for Contracts

PRINCETON, New Jersey, Nov. 3, 2017 /PRNewswire/ — Miami International Holdings, Inc. today reported the October 2017 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 20.6 million contracts in October 2017 for a combined average daily volume (ADV) of 939,113 contracts, representing a total U.S. equity options market share of 6.32%.  In SPY options, MIAX PEARL achieved 6.3% and 10.0% market share of industry SPY volume and Simple SPY volume, respectively, as reported by OPRA.

Detailed volume statistics are as follows:

Trading Volume for MIAX Options and MIAX PEARL,
Current Month
Year-to-Date
Total Options Contracts Oct-17 Oct-16 % Chg Sept-17 % Chg Oct-17 Oct-16 % Chg
Trading Days 22 21 20 210 210
U.S. Equity Options Industry 326,672,894 279,141,501 17.0% 282,159,560 15.8% 3,053,572,458 2,995,759,557 1.9%
MIAX Exchange Group 20,660,496 18,706,896 10.4% 19,351,830 6.8% 192,929,848 209,867,026 -8.1%
MIAX Options 14,541,275 18,706,896 -22.3% 13,819,054 5.2% 164,226,582 209,867,026 -21.7%
MIAX PEARL 6,119,221 N/A N/A 5,532,776 10.6% 28,703,266 N/A N/A
Options ADV Oct-17 Oct-16 % Chg Sept-17 % Chg Oct-17 Oct-16 % Chg
U.S. Equity Options Industry 14,848,768 13,292,452 11.7% 14,107,978 5.3% 14,540,821 14,265,522 1.9%
MIAX Exchange Group 939,113 890,805 5.4% 967,592 -2.9% 918,714 999,367 -8.1%
MIAX Options 660,967 890,805 -25.8% 690,953 -4.3% 782,031 999,367 -21.7%
MIAX PEARL 278,146 N/A N/A 276,639 0.5% 136,682 N/A N/A
Market Share Oct-17 Oct-16 % Chg Sept-17 % Chg Oct-17 Oct-16 % Chg
MIAX Exchange Group 6.32% 6.70% -5.6% 6.86% -7.8% 6.32% 7.01% -9.8%
MIAX Options 4.45% 6.70% -33.6% 4.90% -9.1% 5.38% 7.01% -23.2%
MIAX PEARL 1.87% N/A N/A 1.96% -4.5% 0.94% N/A N/A

Other achievements include:

  • MIAX PEARL
    • New daily record for contracts during October 2017
      • 404,131 contracts executed on October 27, 2017

For further information regarding MIAX Options and MIAX PEARL, 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 16.72 microseconds for a full round trip. At the 99th and 99.9th percentiles, the latency on MIAX Options is approximately 24.42 and 53.52 microseconds, respectively.

MIAX PEARL launched trading operations on February 6, 2017 and currently lists and trades options on approximately 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, N.J. The MIAX Exchange Group also maintains a Miami Operations Center in Miami, Fla., 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. 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 (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.

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