Miami International Holdings Reports October 2022 Trading Results; SPIKES Futures, MIAX Options and MIAX Pearl Equities Set Year-to-Date Volume Records

PRINCETON, N.J., Nov. 4, 2022 /PRNewswire/ — Miami International Holdings, Inc. today reported October 2022 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX™).

October 2022 Trading Volume Highlights

  • Total U.S. multi-listed options market share for the MIAX Exchange Group reached 12.93%, representing a 9.7% year-over-year (YoY) decrease. A total of 107.3 million multi-listed options contracts were executed on the MIAX Exchange Group, representing a 3.6% decrease YoY and an average daily volume (ADV) of 5.1 million contracts. Total year-to-date (YTD) volume reached 1.1 billion contracts, a decrease of 2.9% from the same period in 2021.
  • MIAX Options reported record YTD volume of 450.0 million contracts, up 4.8% from the same period in 2021, with volume reaching 46.4 million contracts in October 2022, a 2.8% YoY increase. MIAX Emerald reported YTD volume of 263.7 million contracts, a 15.0% decrease from the same period in 2021, with volume totaling 25.0 million contracts in October 2022, a 31.9% YoY decrease. MIAX Pearl reported YTD volume of 354.8 million contracts, a 1.7% decrease from the same period in 2021, with volume totaling 35.8 million contracts in October 2022, a 21.5% YoY increase.
  • In U.S. equities, MIAX Pearl Equities™ reported volume of 2.6 billion shares in October 2022, representing an 81.6% increase YoY and a monthly market share of 1.08%. Total YTD volume reached a record 25.0 billion shares, a 232.7% increase from the same period in 2021.
  • In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reported trading volume of 184,807 contracts in October 2022, a 57.7% decrease YoY. Total YTD volume reached 2.9 million contracts, a decrease of 10.6% from the same period in 2021.
  • SPIKES® Futures YTD volume reached a record of 718,043 contracts in October 2022, a 33.4% increase YoY. SPIKES Futures volume totaled 44,694 contracts in October 2022, representing an 82.2% decrease YoY and an average daily volume of 2,128 contracts.

Additional MIAX Exchange Group and MGEX volume details are included in the following tables.

Multi-Listed Options Trading Volume for

 MIAX Exchange Group, Current Month

Year-to-Date Comparison
Multi-Listed Options
Contracts
Oct-22 Oct-21 % Chg Sep-22 % Chg Oct-22 Oct-21 % Chg
Trading Days 21 21 21 209 209
U.S. Equity Options Industry 829,648,516 777,425,367 6.7 % 837,127,631 -0.9 % 7,952,581,435 7,674,101,467 3.6 %
MIAX Exchange Group 107,262,817 111,294,908 -3.6 % 97,335,822 10.2 % 1,068,416,653 1,100,449,785 -2.9 %
MIAX Options 46,440,650 45,154,248 2.8 % 42,928,688 8.2 % 449,986,492 429,285,202 4.8 %
MIAX Pearl 35,849,633 29,496,984 21.5 % 32,881,438 9.0 % 354,767,859 360,988,693 -1.7 %
MIAX Emerald 24,972,534 36,643,676 -31.9 % 21,525,696 16.0 % 263,662,302 310,175,890 -15.0 %
Multi-Listed Options ADV Oct-22 Oct-21 % Chg Sep-22 % Chg Oct-22 Oct-21 % Chg
U.S. Equity Options Industry 39,507,072 37,020,256 6.7 % 39,863,221 -0.9 % 38,050,629 36,718,189 3.6 %
MIAX Exchange Group 5,107,753 5,299,758 -3.6 % 4,635,039 10.2 % 5,112,041 5,265,310 -2.9 %
MIAX Options 2,211,460 2,150,202 2.8 % 2,044,223 8.2 % 2,153,045 2,053,996 4.8 %
MIAX Pearl 1,707,125 1,404,618 21.5 % 1,565,783 9.0 % 1,697,454 1,727,219 -1.7 %
MIAX Emerald 1,189,168 1,744,937 -31.9 % 1,025,033 16.0 % 1,261,542 1,484,095 -15.0 %
Multi-Listed Options Market Share for

MIAX Exchange Group, Current Month

Year-to-Date Comparison
Multi-Listed Options Market
Share
Oct-22 Oct-21 % Chg Sep-22 % Chg Oct-22 Oct-21 % Chg
MIAX Exchange Group 12.93 % 14.32 % -9.7 % 11.63 % 11.2 % 13.43 % 14.34 % -6.3 %
MIAX Options 5.60 % 5.81 % -3.6 % 5.13 % 9.2 % 5.66 % 5.59 % 1.2 %
MIAX Pearl 4.32 % 3.79 % 13.9 % 3.93 % 10.0 % 4.46 % 4.70 % -5.2 %
MIAX Emerald 3.01 % 4.71 % -36.1 % 2.57 % 17.1 % 3.32 % 4.04 % -18.0 %

 

Equities Trading Volume for

MIAX Pearl Equities, Current Month

Year-to-Date Comparison
Equities Shares (millions) Oct-22 Oct-21 % Chg Sep-22 % Chg Oct-22 Oct-21 % Chg
Trading Days 21 21 21 209 209
U.S. Equities Industry 241,264 218,292 10.5 % 239,417 0.8 % 2,517,634 2,399,764 4.9 %
Miax Pearl Volume 2,595 1,429 81.6 % 2,784 -6.8 % 25,004 7,516 232.7 %
MIAX Pearl ADV 124 68 81.6 % 133 -6.8 % 120 36 232.7 %
MIAX Pearl Market Share 1.08 % 0.65 % 64.3 % 1.16 % -7.5 % 0.99 % 0.31 % 217.1 %

 

Futures & Options Trading Volume for

MGEX, Current Month

Year-to-Date Comparison
Futures & Options Contracts Oct-22 Oct-21 % Chg Sep-22 % Chg Oct-22 Oct-21 % Chg
Trading Days 21 21 21 209 209
MGEX Futures Volume 184,807 436,943 -57.7 % 310,233 -40.4 % 2,895,436 3,237,124 -10.6 %
MGEX ADV 8,800 20,807 -57.7 % 14,773 -40.4 % 13,854 15,489 -10.6 %

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®), Minneapolis Grain Exchange, LLC (MGEX™), 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 (SEC) 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 and also serves as the exclusive market for SPIKES Futures. MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM, DCO and cash market services in an array of asset classes.

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 offices located in Miami, FL, Minneapolis, MN, Hamilton, Bermuda and Chicago, IL.

To learn more about MIAX visit www.MIAXOptions.com.

To learn more about MGEX visit www.mgex.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@miami-holdings.com

Logo – https://mma.prnewswire.com/media/1396492/MIAX_Logo.jpg

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