PRINCETON, New Jersey, Oct. 5, 2020 /PRNewswire/ — Miami International Holdings, Inc. (MIH) today reported September 2020 options trading results for its three securities exchanges – MIAX®, MIAX PEARL® and MIAX Emerald™ (together, the MIAX Exchange Group™). The MIAX Exchange Group collectively executed over 86.7 million equity option contracts in September for a combined average daily volume (ADV) of 4,129,567 contracts, representing a total U.S. equity options market share of 13.71%.

Trading Volume for MIAX Exchange Group,

Current Month

Year-to-Date Comparison
Equity Options Contracts Sept-20 Sept-19 % Chg Aug-20 % Chg Sept-20 Sept-19 % Chg
Trading Days 21 20 21 189 188
U.S. Equity Options Industry 632,751,329 360,693,463 75.4% 582,394,732 8.6% 5,046,519,012 3,285,898,055 53.6%
MIAX Exchange Group 86,720,900 35,997,644 140.9% 70,996,814 22.1% 605,449,661 325,500,007 86.0%
MIAX 36,901,910 13,958,514 164.4% 28,298,707 30.4% 242,802,660 130,062,867 86.7%
MIAX PEARL 23,864,559 19,115,274 24.8% 23,805,458 0.2% 228,612,913 176,858,486 29.3%
MIAX Emerald 25,954,431 2,923,856 787.7% 18,892,649 37.4% 134,034,088 18,578,654 621.4%
Equity Options ADV Sept-20 Sept-19 % Chg Aug-20 % Chg Sept-20 Sept-19 % Chg
U.S. Equity Options Industry 30,131,016 18,034,673 67.1% 27,733,082 8.6% 26,701,159 17,478,181 52.8%
MIAX Exchange Group 4,129,567 1,799,882 129.4% 3,380,801 22.1% 3,203,437 1,731,383 85.0%
MIAX 1,757,234 697,926 151.8% 1,347,557 30.4% 1,284,670 691,824 85.7%
MIAX PEARL 1,136,408 955,764 18.9% 1,133,593 0.2% 1,209,592 940,737 28.6%
MIAX Emerald 1,235,925 146,193 745.4% 899,650 37.4% 709,175 98,823 617.6%
Equity Option Market Share for MIAX Exchange Group,

Current Month

Year-to-Date Comparison
Equity Options Market Share Sept-20 Sept-19 % Chg Aug-20 % Chg Sept-20 Sept-19 % Chg
MIAX Exchange Group 13.71% 9.98% 37.3% 12.19% 12.4% 12.00% 9.91% 21.1%
MIAX 5.83% 3.87% 50.7% 4.86% 20.0% 4.81% 3.96% 21.6%
MIAX PEARL 3.77% 5.30% -28.8% 4.09% -7.7% 4.53% 5.38% -15.8%
MIAX Emerald 4.10% 0.81% 406.0% 3.24% 26.4% 2.66% 0.57% 369.7%


Other news and achievements include:  


  • New daily record for contracts executed
    • 2,707,322 contracts on September 4, 2020
  • New monthly record for contracts executed
    • 36,901,910 contracts executed

MIAX Emerald

  • New daily market share record
    • 4.96% market share on September 3, 2020
  • New monthly market share record
    • 4.10% market share
  • New daily record for contracts executed
    • 2,028,075 on September 3, 2020
  • New monthly record for contracts executed
    • 25,954,431 contracts

MIAX Exchange Group

  • New daily market share record
    • 15.50% market share on September 3, 2020
  • New monthly market share record
    • 13.71% market share
  • New daily record for contracts executed
    • 6,664,360 on September 3, 2020
  • New monthly record for contracts executed
    • 86,720,900 contracts


  • Launched MIAX PEARL Equities™, its first equities exchange, which completed its first day of live trading in the symbol NTGR (NETGEAR Inc.) on September 29, 2020. Additional symbols are expected to be rolled out in the coming weeks.
  • Announced that it had finalized a strategic transaction with industry-leading firms to trade on MIAX PEARL Equities. Among the firms participating in the transaction are Citadel Securities, LLC, Hudson River Trading, Jump Trading Group, Simplex Trading, LLC, Susquehanna Securities, LLC, and UBS.
  • Jointly announced with the Minneapolis Grain Exchange, Inc. (MGEX) that MGEX membership overwhelmingly voted in favor of demutualizing. As a result, MIH and MGEX can now proceed with merger preparations in accordance with the agreement and plan of merger previously announced by the parties. The transaction is expected to close in the fourth quarter of 2020, subject to customary closing conditions including certain regulatory approvals.
  • Announced that it had completed an equity investment in Diamond Standard, Inc. (Diamond Standard). As part of this transaction, MIH and Diamond Standard have partnered to collaborate in multiple areas, including the development and listing of diamond-based futures and options based on Diamond Standard products. All futures and options products remain subject to regulatory approval.

For further information regarding the MIAX Exchange Group, please visit or contact MIAX Trading Operations at

Corporate Communications Contact:
Natalie Kay, Karma Agency

About MIH and the MIAX Exchange Group

Miami International Holdings, Inc. (MIH) is the parent holding company of Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX PEARL®) and MIAX Emerald, LLC (MIAX Emerald™ and together with MIAX and MIAX PEARL, the MIAX Exchange Group™), three national securities exchanges. MIH also owns a controlling interest in the Bermuda Stock Exchange.

MIAX, MIAX PEARL and MIAX Emerald options exchanges leverage the MIAX Exchange Group’s industry-leading technology and infrastructure to provide their member firms with traditional pricing and pro rata allocation (MIAX), maker-taker pricing and price-time allocation (MIAX PEARL) market structures, and a hybrid market structure with maker-taker pricing and pro rata allocation (MIAX Emerald).

MIAX Options® serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).

Under MIAX PEARL’s exchange license, MIAX PEARL Equities™ provides its members with best-in-class performance through a combination of high determinism, low latency and high throughput. MIAX PEARL Equities has maker-taker pricing and a price-time allocation model.

The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL.

To learn more about MIH and the MIAX Exchange Group visit

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 Miami International Holdings, Inc. (together with its subsidiaries, the Company), 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. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

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