Difference between revisions of "MIAX Options Exchange"

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Through August 2013 MIAX had captured .68% of the exchange traded equity options volume in 2013.
 
Through August 2013 MIAX had captured .68% of the exchange traded equity options volume in 2013.
  
In October 2013 MIAX Options Exchange agreed to sell a stake in itself to six of its largest members. The deal gives Bank of America Merrill Lynch, Morgan Stanley, Wolverine, Interactive Brokers, Susquehanna International Group, and KCG Holdings the right to purchase up to 19.9 percent each of MIAX's parent company Miami International Holdings over a two-year period. The company is currently owned by Kuwaiti consortium IFA Group and other investors based in the U.S. and overseas.<ref>{{cite web|url=http://www.tradersmagazine.com/news/MIAX-Trades-Ownership-Stake-for-Order-Flow-in-Deal-with-Six-Big-Members-111586-1.html?ET=tradersmagazine:e2384:1170180a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=tm_xtra_100213|name=MIAX Trades Ownership Stake for Order Flow in Deal with Six Big Members|org=Traders Magazine|date=October 2, 2013}}</ref>  
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In October 2013 MIAX Options Exchange agreed to sell a stake in itself to six of its largest members. The deal gives Bank of America Merrill Lynch, Morgan Stanley, Wolverine, Interactive Brokers, Susquehanna International Group, and KCG Holdings the right to purchase up to 19.9 percent each of MIAX's parent company Miami International Holdings over a two-year period. The company is currently owned by Kuwaiti consortium IFA Group and other investors based in the U.S. and overseas.<ref>{{cite web|url=http://www.tradersmagazine.com/news/MIAX-Trades-Ownership-Stake-for-Order-Flow-in-Deal-with-Six-Big-Members-111586-1.html?ET=tradersmagazine:e2384:1170180a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=tm_xtra_100213|name=MIAX Trades Ownership Stake for Order Flow in Deal with Six Big Members|org=Traders Magazine|date=October 2, 2013}}</ref> That deal is expected to close in the second quarter of 2015.
  
In February 2015, MIAX added two more member firms to its roster: Citadel Securities LLC and Optiver US LLC, and all the member firms signed a deal with Miami International Holdings that allows them to buy more stock in the holding company if they increase the amount of trading on the exchange.  
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In February 2015, MIAX added two more member firms to its roster, Citadel Securities LLC and Optiver US LLC, and agreed to a new deal with its seven member firms that allows them to buy more stock in Miami International Holdings if they increase the amount of trading on the exchange.<ref>{{cite web|url=http://www.wsj.com/articles/miax-options-exchange-closes-equity-rights-deal-with-seven-firms-1423070419|name=MIAX Options Exchange Closes Equity Rights Deal With Seven Firms|org=The Wall Street Journal|date=February 4, 2015}}</ref>
  
 
==John Lothian News Interview with MIAX==
 
==John Lothian News Interview with MIAX==

Revision as of 12:16, 4 February 2015

RCG Division of Marex Spectron-337x80.jpg
MIAX Options Exchange
Miax options logo-resize-380x300.jpg
Founded 2012
Headquarters Princeton, NJ
Key People Thomas P. Gallagher, Chairman and CEO
Employees 75
Products Equity Derivatives Exchange
Website http://www.miaxoptions.com
Releases Company News

The MIAX Options Exchange is a U.S. equity derivatives market. It received regulatory approval on Dec. 3, 2012 and began operations on Dec. 7, 2012.[1] MIAX acts as its own self-regulatory organization.

The national operations center for MIAX is housed at a facility in Princeton, New Jersey. Additional executive offices, as well as a multi-purpose training, meeting and conference center are located in a facility in Miami, Florida.

MIAX is owned by Miami International Holdings, Inc., based in Princeton, New Jersey.[2]

Through August 2013 MIAX had captured .68% of the exchange traded equity options volume in 2013.

In October 2013 MIAX Options Exchange agreed to sell a stake in itself to six of its largest members. The deal gives Bank of America Merrill Lynch, Morgan Stanley, Wolverine, Interactive Brokers, Susquehanna International Group, and KCG Holdings the right to purchase up to 19.9 percent each of MIAX's parent company Miami International Holdings over a two-year period. The company is currently owned by Kuwaiti consortium IFA Group and other investors based in the U.S. and overseas.[3] That deal is expected to close in the second quarter of 2015.

In February 2015, MIAX added two more member firms to its roster, Citadel Securities LLC and Optiver US LLC, and agreed to a new deal with its seven member firms that allows them to buy more stock in Miami International Holdings if they increase the amount of trading on the exchange.[4]

John Lothian News Interview with MIAX

Sun rises on Miami Options Exchange:

Shelly Brown and Doug Schafer talk about the new Miami Options Exchange

The much anticipated MIAX Options Exchange launched December 7, 2013, making it the 11th options exchange in the United States. Jim Kharouf, editor-in-chief of John Lothian News, spoke with Shelly Brown, senior vice president, strategic planning and operations with MIAX Options, and Doug Schafer, executive vice president, chief information officer and director of the exchange at the Options Industry Conference in Las Vegas. They say MIAX’s 72-person team has two things that differentiate it from the pack - speed and a regulator approval-pending order function that’s designed to tighten quotes and reward market makers for tighter quoting. They also touched on its next two exchanges that will be based in Miami, with a Latin American view. [1]

Key People

References

  1. Press Release. PR Newswire.
  2. Miami Options Exchange Gets SEC Approval, Will Start Dec. 7. Bloomberg.
  3. MIAX Trades Ownership Stake for Order Flow in Deal with Six Big Members. Traders Magazine.
  4. MIAX Options Exchange Closes Equity Rights Deal With Seven Firms. The Wall Street Journal.