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Home > Business & Finance > Miami International Holdings, Inc. Reports August 2017 Trading Activity for MIAX Options and MIAX PEARL; MIAX PEARL Achieves Over 2% Market Share and Sets New Market Share and Contract Records

Miami International Holdings, Inc. Reports August 2017 Trading Activity for MIAX Options and MIAX PEARL; MIAX PEARL Achieves Over 2% Market Share and Sets New Market Share and Contract Records

PRINCETON, New Jersey, Sept. 6, 2017 /PRNewswire/ — Miami International Holdings, Inc. today reported the August 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 22.6 million contracts in August 2017 for a combined average daily volume (ADV) of 982,808 contracts, representing a total U.S. equity options market share of 6.87%.

Detailed volume statistics are as follows:

Trading Volume for MIAX Options and MIAX PEARL,
Current Month
Year-to-Date
Total Options Contracts Aug-17 Aug-16 % Chg July-17 % Chg Aug-17 Aug-16 % Chg
Trading Days 23 23 20 168 168
U.S. Equity Options Industry 329,256,007 289,166,952 13.9% 276,744,805 19.0% 2,444,740,004 2,397,575,976 2.0%
MIAX Exchange Group 22,604,576 22,592,923 0.1% 17,972,014 25.8% 152,917,522 168,202,467 -9.1%
MIAX Options 17,014,463 22,592,923 -24.7% 14,785,348 15.1% 135,866,253 168,202,467 -19.2%
MIAX PEARL 5,590,113 N/A N/A 3,186,666 75.4% 17,051,269 N/A N/A
Options ADV Aug-17 Aug-16 % Chg July-17 % Chg Aug-17 Aug-16 % Chg
U.S. Equity Options Industry 14,315,479 12,572,476 13.9% 13,837,240 3.5% 14,552,024 14,271,286 2.0%
MIAX Exchange Group 982,808 982,301 0.1% 898,601 9.4% 910,223 1,001,205 -9.1%
MIAX Options 739,759 982,301 -24.7% 739,267 0.1% 808,728 1,001,205 -19.2%
MIAX PEARL 243,048 N/A N/A 159,333 52.5% 101,496 N/A N/A
Market Share Aug-17 Aug-16 % Chg July-17 % Chg Aug-17 Aug-16 % Chg
MIAX Exchange Group 6.87% 7.81% -12.1% 6.49% 5.7% 6.25% 7.02% -10.8%
MIAX Options 5.17% 7.81% -33.9% 5.34% -3.3% 5.56% 7.02% -20.8%
MIAX PEARL 1.70% N/A N/A 1.15% 47.4% 0.70% N/A N/A

Other recent achievements and announcements include:

  • MIAX PEARL
    • Closed over 2% market share of OCC national volume on August 14, 2017 for the first time, achieving 2.02%
    • New daily market share records during August 2017
      • 2.16% of OCC national volume on August 25, 2017
      • 377,886 contracts executed on August 18, 2017
    • New monthly market share records during August 2017
      • 1.70% of OCC national volume
      • 5,590,113 total contracts executed
  • MIAX Options successfully expanded the capabilities of its complex order system in early August 2017 following the rollout of Complex PRIME to its MIAX Options Price Improvement Mechanism (MIAX PRIME®), Complex C2C (Customer to Customer Cross) and Complex QCC functionality. With the completion of this rollout, MIAX PRIME functionality was made available to all symbols on MIAX Options in both simple and complex orders.

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 16.22 microseconds for a full round trip. At the 99th and 99.9th percentiles, the latency on MIAX Options is approximately 24.76 and 53.78 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 24.72 microseconds for a round trip. At the 99th and 99.9th percentiles, the latency on MIAX PEARL is approximately 34.60 and 57.08 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 MIAX 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.