Difference between revisions of "Miami International Holdings, Inc."

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| company_name = Miami International Holdings, Inc.
 
| company_name = Miami International Holdings, Inc.

Revision as of 14:23, 7 December 2018

Miami International Holdings, Inc.
MIHI Logo.jpg
Headquarters Princeton, New Jersey
Key People Thomas P. Gallagher, Executive Chairman
Employees 51-200
Products Holding Company
Website www.miaxoptions.com
Releases Company News

Miami International Holdings, Inc. is an exchange holding company which developed the MIAX Options Exchange (MIAX). MIAX was launched on December 7, 2012, which made it the 11th equity options exchange in the United States.[1]

The initial focus for the company was to establish its options exchange and then add the MIAX Equities Exchange, with plans to pursue Latin American companies as well as the MIAX Futures Exchange, both pending regulatory approval.[2] [3][4] [5][6]

Miami International Holdings was ranked 19th in exchanges by volume in the FIA's 2017 Annual Volume Survey, trading 232.2 million in volume, down 6% from the previous year.

History

In 2008, Miami International Holdings, Inc. formed a foreign limited liability company called Miami Board of Trade, LLC.[7]

The company planned to launch a U.S. options exchange as early as July 2009 but did not launch the Miami International Securities Exchange until December 7, 2012, after receiving SEC approval on December 3, 2012. [8]

Products and Services

On its website, Miami International Holdings states that its mission is to provide:

  • A marketplace that caters to the needs of the customer and trading community
  • Competitive pricing based on a low cost operating structure
  • Superior customer service
  • Outstanding technology

The company has an in-house trading platform. The MIAX platform offers:

  • MIAX FIX gateway for orders
  • MIAX Express Interface (MEI) offers direct connections to the match engine for high-speed mass quoting
  • MIAX Top of Market (ToM) provides low latency access to MIAX market data
  • MIAX Clearing Trade Drop (CTD) provides real-time clearing trade content to firms with the same low latency technology.[9]

Contract Volume

Year Total Annual Volume* Percent Change
2017 232,223,967 (-)6.0%
2016 247,112,479 (-)2.2%
2015 252,605,427 87.8%
2014 134,535,972 241.2%
2013 39,430,903 --

Key People

References

  1. MIAX OPTIONS EXCHANGE SUCCESSFULLY LAUNCHES. MIAX.
  2. About MIAX. MIAX Options.
  3. Miami International to Introduce 10th U.S. Options Exchange. Bloomberg.
  4. Miami International Sees September Launch For Stock-Options Exchange. WSJ.
  5. Debut of new exchanges could hurt options industry. Chicago Tribune.
  6. Miami International Planning U.S. Stock Exchange After Options Launch. Bloomberg.
  7. Foreign Limited Liability Company. Florida Department Of State Division Of Corporations.
  8. (Press Release) US Options Exchanges Battle for Liquidity as Pennies, Internalization and Regulatory Environment Shift Landscape. TABB Group.
  9. About MIAX. MIAX Options.
  10. Management Team. MIAX Options.