PRINCETON, N.J., July 6, 2015 /PRNewswire/ -- MIAX Options
Exchange (MIAX®) announced today that John Smollen has been hired as its new Executive
Vice President – Head of Exchange Traded Products and Strategic
Relations. Prior to his hiring, Mr. Smollen provided consulting
services to MIAX as a strategic advisor.
Mr. Smollen brings over 30 years of options industry experience
to MIAX. Mr. Smollen served as a Managing Director for Goldman
Sachs and as a floor director at the Chicago Board Options Exchange (CBOE). Prior
to his retirement from Goldman Sachs in 2011, Mr. Smollen helped
oversee the firm's move from floor-based trading to electronic
market trading as part of the U.S. market making and volatility
trading group. While at CBOE, Mr. Smollen served as the member Vice
Chairman in 2006, the highest elected position a CBOE member can
hold. Most recently, Mr. Smollen was a Partner at Quivetneck
Capital, a company based in Chicago,
Illinois that offers consulting services focusing on
trading, clearing, market making, order flow, routing and trading
technology.
"We are excited to add an executive of John's caliber to the
MIAX management team," said Thomas P.
Gallagher, Chairman and Chief Executive Officer of MIAX.
"John's experience in the options industry brings enormous value
not only to MIAX but also to our MIAX Exchange Member firms. The
insight he will provide us now as a MIAX executive will be
invaluable as we continue to evolve our strategic direction, work
with our MIAX Exchange Member firms to improve their trading
experience and performance, and consider new business
initiatives."
Added Douglas M. Schafer, Jr.,
MIAX's Executive Vice President and Chief Information Officer,
"John's background and experience in the industry brings an
additional perspective that aligns well with MIAX's future goals
and objectives. We look forward to John being part of the MIAX team
for many years to come."
For further information regarding the MIAX Options Exchange,
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 MIAX and MIH
MIAX, which commenced operations on December 7, 2012, is a fully electronic options
trading exchange approved by the SEC as a national securities
exchange on December 3, 2012. MIAX
has assembled a team with deep rooted experience in developing,
operating and trading on options exchanges. Its trading platform
has been developed in-house and designed from the ground up for the
unique functional and performance demands of derivatives trading.
MIAX Options now lists and trades options on over 2,100
multi-listed classes. The MIAX Options Exchange's unparalleled
system throughput is approximately 27 million quotes per second.
The average latency for a single quote on MIAX is approximately
28.89 microseconds for a full round trip. At the 99th percentile,
the latency on MIAX is approximately 43.90 microseconds. At the
99.9th percentile, the latency on MIAX is approximately 79.01
microseconds. The MIAX executive offices and technology development
center as well as the National Operations Center for the MIAX
Options Exchange are located in Princeton, New Jersey.
MIAX, Miami International Technologies, LLC (MIAX Technologies)
and MIAX Global, LLC (MIAX Global) are wholly-owned subsidiaries of
Miami International Holdings, Inc. (MIH). MIAX Technologies is the
Company's technology subsidiary for the sale and/or license of MIAX
trading technology. MIAX Global focuses on the Company's trading,
technology and other projects based outside of North America, initially focusing 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 (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.
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SOURCE MIAX Options Exchange