PRINCETON, New Jersey, Nov.
21, 2018 /PRNewswire/ -- Miami International Holdings,
Inc. (MIH) today announced that MIAX Emerald will launch trading
operations on February 22, 2019,
pending SEC approval. MIAX Emerald will officially join MIH's other
exchanges, MIAX Options® and MIAX PEARL™, as
part of the MIAX Exchange Group. Specifically designed as a hybrid
market model with pro rata allocation and maker-taker pricing, MIAX
Emerald will serve to complement the market models of MIAX Options
and MIAX PEARL and expand the MIAX Exchange Group's trade execution
capabilities into a market segment currently not offered to its
member firms.
"We are pleased to announce the launch date of our newest
options exchange, MIAX Emerald," said Thomas P. Gallagher, Chairman and CEO of MIH.
"February 22, 2019 will mark another
great achievement in the history of our company and create a MIAX
Exchange Group capable of addressing all of the electronic trading
needs of our member firms. Additionally, with the addition of MIAX
Emerald, the MIAX Exchange Group will be better poised to handle
any future U.S. trading volume shift into a given market segment
due to the unique market model of each of our exchanges."
For more information on MIAX Emerald interface specifications,
please visit:
https://www.miaxoptions.com/interface-specifications/emerald.
MIAX Emerald pricing information will be made available at a
later date. Please contact MIAX Trading Operations at
TradingOperations@MIAXOptions.com or (609) 897-7302 to coordinate
connectivity and interface testing.
For further information regarding the MIAX Exchange Group,
please visit www.MIAXOptions.com. To learn more about trading on
the MIAX Exchanges, please contact Sales at Sales@MIAXOptions.com
or MIAX Trading Operations at
TradingOperations@MIAXOptions.com.
Corporate Communications
Contact:
Dominique Prunetti-Miller
(609) 897-1465
dprunetti@miami-holdings.com
JConnelly Media Contact:
Tony Kono
(973) 525-6855
tkono@jconnelly.com
About MIH and the MIAX Exchange Group
Miami International Holdings, Inc. (MIH) is the parent holding
company of Miami International Securities Exchange, LLC (MIAX
Options) and MIAX PEARL, LLC (MIAX PEARL and together with MIAX
Options, the MIAX Exchange Group), two fully electronic options
trading exchanges.
MIAX Options currently lists and trades options on approximately
2,800 multi-listed classes. MIAX Options' unparalleled system
throughput is approximately 38 million quotes per second. The
average latency for a single quote on MIAX Options is approximately
17.56 microseconds for a full round trip. At the 99th
and 99.9th percentiles, the latency on MIAX Options is
approximately 25.69 and 57.67 microseconds, respectively.
MIAX PEARL launched trading operations on February 6, 2017 and currently lists and trades
options on approximately 2,800 multi-listed classes. The average
latency for a single order on MIAX PEARL is approximately 24.42
microseconds for a round trip. At the 99th and
99.9th percentiles, the latency on MIAX PEARL is
approximately 32.35 and 60.38 microseconds, respectively.
The MIAX Exchange Group has assembled a team with deep rooted
experience in developing, operating and trading on options
exchanges, and its trading platforms have been developed in-house
and designed from the ground up for the unique functional and
performance demands of derivatives trading. MIAX Options and MIAX
PEARL leverage the MIAX Exchange Group's industry-leading
technology and infrastructure to provide their member firms with
both traditional (MIAX Options) and maker-taker (MIAX PEARL)
pricing structures. The MIAX Exchange Group's executive offices and
National Operations Center are located in Princeton, New Jersey. The MIAX Exchange
Group also maintains a Miami Operations Center in Miami, Florida, which contains the Miami
Annual Meeting and Conference Center and the offices of MIAX
Technologies and MIAX Global.
In addition to MIAX PEARL and MIAX Options, MIH is the parent
holding company of Miami International Technologies, LLC (MIAX
Technologies), MIAX Global, LLC (MIAX Global) and MIAX Emerald, LLC
(MIAX Emerald). MIAX Technologies is MIH's technology subsidiary
for the sale and/or license of the trading technology developed by
the MIAX Exchange Group. MIAX Global focuses on merger, acquisition
and joint venture activities of MIH. MIAX Global also provides
technology and other services outside of North America, with its initial concentration
being on Europe and Latin America. MIAX Emerald is MIH's third
options exchange and is expected to launch in Q1 2019, pending SEC
approval.
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
Options and MIAX PEARL (collectively, 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.