Market News

Miami International Holdings Reports Exceptional Trading Activity with Record-Breaking Milestones in April 2024

PRINCETON, N.J., May 8, 2024 – Miami International Holdings, Inc. (MIH), a visionary in the development and management of regulated financial markets across various asset classes and locations, has unveiled the trading metrics for April 2024 for its subsidiary exchanges in the U.S. – the MIAX Exchange Group, consisting of MIAX®, MIAX Pearl®, and MIAX Emerald®, and for the Minneapolis Grain Exchange (MGEX™). These results underscore a noteworthy advancement in the company's trading volumes and market shares, further cementing MIH's position as a burgeoning force in the trading industry.

April 2024: A Month of Notable Achievements and Year-to-Date Growth

Trading volumes in multi-listed options for the MIAX Exchange Group witnessed an impressive surge in April, ascending to a total of 142.8 million contracts. This marks a substantial 26.5% year-over-year increase, with a 4.3% climb from the previous month, March 2024. The Average Daily Volume (ADV) also experienced a significant rise, reaching 6.5 million contracts, which denotes a 9.2% year-over-year uptick. Despite a market share of 15.5% that reflects a 5.0% dip from the previous year, the year-to-date volume achieved a noteworthy record of 565.6 million contracts, representing a 3.4% ascent compared to the same period in 2023.

MIAX Options recorded a monthly volume of 57.4 million contracts, up by a remarkable 30.0% from the previous year, with the monthly ADV witnessing a 12.3% year-over-year growth to stand at 2.6 million contracts. This led to an exemplary year-to-date volume record of 227.7 million contracts, marking a 4.5% increase over the corresponding period in 2023.

MIAX Pearl Options also added to the burgeoning volumes with 50.0 million contracts, a 7.4% year-over-year increment. Despite a 19.4% decrease in market share year-over-year, settling at 5.4%, the total year-to-date volume settled at 203.5 million contracts, reflecting a 9.5% decline from the same time frame in the preceding year.

MIAX Emerald Options showcased the most noticeable growth, amassing 35.5 million contracts, which translates to an astounding 59.4% increase year over year. The monthly ADV reflected a significant 37.7% year-over-year surge, reaching 1.6 million contracts, contributing to a market share of 3.8%, marking a 19.7% elevation from the previous year. The total year-to-date volume also achieved a historic high by hitting 134.4 million contracts, surging by 29.0% compared to 2023.

The U.S. Equities and Futures: A Game-Changing Performance

The MIAX group continued its streak of breaking ceilings in the U.S. equities arena, with MIAX Pearl Equities™ recording a remarkable volume of 5.1 billion shares, a 67.5% year-over-year increase. It captured a market share of 2.11%, up by 36.3% from the previous year, while the monthly ADV skyrocketed by 44.7% year-over-year, notching 231.0 million shares. The push into record territory continued with a total year-to-date volume reaching an all-time high of 18.2 billion shares, representing a 46.4% jump from the same period in the prior year, with a market share that reached the zenith of 1.9%, up 41.5% from 2023.

Shifting the spotlight to U.S. futures, MGEX, a stalwart as both a Designated Contract Market (DCM) and a Derivatives Clearing Organization (DCO), surged to a monthly volume of 339,956 contracts, propelling 41.5% higher year-over-year and marking a staggering 98.4% increment from March 2024. The ADV in April 2024 saw a robust 22.2% year-over-year increase.

A Comprehensive Overview of MIAX Exchange Group and MGEX

Delving deeper, comprehensive trading volume information and market share statistics for MIAX Exchange Group and MGEX are outlined in the data tables provided. This detailed compilation of trading data per exchange and the consolidated monthly and year-to-date glimpses into the contracts and shares traded offer valuable insights into the impressive traction garnered by MIAX and MGEX in the financial markets.

MIAX: A Beacon of Financial Innovation and Diversification

MIAX, under the umbrella of its parent holding company Miami International Holdings, Inc., showcases a diverse and expansive suite of entities including the MIAX®, MIAX Pearl®, MIAX Emerald®, MIAX Sapphire™, MGEX™, MIAX Derivatives Exchange (MIAXdx), The Bermuda Stock Exchange (BSX), and Dorman Trading, LLC. These subsidiaries are symbols of MIAX's commitment to innovation and high-performance technology in securities exchanges. They provide a broad spectrum of trading options in securities, equities, and futures, with MIAX Pearl Equities™ diversifying into cash equities trading.

MGEX shines as a beacon in the futures trading realm with a range of product offerings and serving as both a DCM and DCO, providing services across various asset classes. MIAXdx stands out as a regulated exchange and clearinghouse, offering a gamut of derivatives trading and clearing services.

The Bermuda Stock Exchange, headquartered in Hamilton, Bermuda, specializes in a wide array of capital market instruments. Dorman Trading, as a full-service Futures Commission Merchant, is another feather in MIAX's cap, contributing significantly to its trading ecosystem.

A Global Presence with a Strong Foothold

The executive offices of MIAX, along with its National Operations Center, claim a strategic presence in Princeton, N.J., expanding its operations with offices in the nerve centers of financial prowess – Chicago, IL, and Miami, FL. MGEX holds its ground with offices rooted in Minneapolis, MN, while MIAXdx and the Bermuda Stock Exchange are headquartered in Princeton, N.J., and Hamilton, Bermuda, respectively. Dorman Trading, efficient in leveraging its expertise, operates out of Chicago, IL.

Expanding MIAX's Knowledge Sphere: Accessible Resources

Commitment to knowledge and transparency stands at the core of MIAX's ethos. In an endeavor to enlighten interested parties and stakeholders alike, MIAX offers resources to deepen the understanding of its operations and services.

To discover more about MIAX's dynamic role in the global exchange market and tap into detailed information about its technology and services, visit MIAX Global.

For insights into MGEX's futures and options trading services or to comprehend their extensive offering, the MGEX section on the MIAX Global site provides ample detail.

Diving into the nuances of derivatives trading is made seamless with the comprehensive overview provided at MIAXdx.

Exploring the investment opportunities facilitated by the Bermuda Stock Exchange is but a click away at BSX.

For services and offerings in futures trading, Dorman Trading's resourceful portal can be accessed at Dorman Trading, highlighting their full spectrum of trading and brokerage services.

Forward-Looking Statements and Disclaimer

The impressive strides and projections laid out by Miami International Holdings, Inc., are augmented by forward-looking statements that cast aspirations for future results and strategies, which reflect the potential pathways and the direction in which the company aims to progress. However, MIH also maintains a cautious stance, reminding that these forward-looking statements are subject to varying risks and uncertainties that could influence the eventual outcomes and steer them away from the anticipated future scenarios.

The trademarks and logos of third parties mentioned herein remain the proprietary marks of the respective entities. MIAX's reference to these marks does not infer any form of partnership or endorsement, serving only to acknowledge the intrinsic value of the goods and services they represent, synonymous with nominative fair use as per trademark conventions.

For Further Information and Press Inquiries

Inquiries and interest in MIAX's endeavors, progress, and future projects are channelized through the efforts of Andy Nybo, SVP, Chief Communications Officer. The communication paths remain open, fostering an environment of transparency and responsiveness. Andy Nybo can be reached for further information regarding MIAX's market movements and operational developments.

MIAX Logo and Visual Identity

In conclusion, the April 2024 trading metrics highlight a period of invigorated growth and remarkable achievement for MIAX. With its technology-driven exchanges, diversified offerings, global reach, and commitment to industry-leading services, Miami International Holdings continues to pave a strong future within the financial markets space. The company stands dedicated to advancing the financial industry's landscape, buoyed by a record-setting April performance and an innovative outlook that keeps stakeholders envisioning a prosperous journey ahead.