PRINCETON, N.J., June 2, 2021 /PRNewswire/ — Miami International Holdings, Inc. today reported May 2021 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group™) and the Minneapolis Grain Exchange (MGEX).
The MIAX Exchange Group reported a number of new volume and market share records for multi-list options trading including a 16.56% market share record on May 28, 2021 and a monthly market share record of 14.71% in May 2021. In addition, the MIAX Options Exchange reported a record 1-day total contract volume of 3,094,601 on May 28, 2021 and a record 42,859,476 contracts traded in May 2021.
In U.S. options, the MIAX Exchange Group collectively executed over 99.6 million multi-listed options contracts for a combined average daily volume (ADV) of 4,984,909 contracts, representing a total U.S. multi-listed options market share of 14.71%, representing an increase of 235 basis points from May 2020.
In U.S. equities, MIAX Pearl Equities™ executed 565,296,056 shares.
In U.S. futures, MGEX executed 261,078 contracts, the best May volume total in MGEX history and 44.4% higher than the prior record total reported in May 2018. Total volume through May reached 1,371,447 contracts, a 24.0% increase from the same period in 2020, while open interest totaled 93,610 contracts on May 31, 2021, an increase of 18.0% from May 2020. SPIKES® futures volume reached a record 4,256 contracts in May 2021.
| Multi-Listed Options Trading Volume for MIAX Exchange Group, Current Month | Year-to-Date Comparison | |||||||
| Multi-Listed Options Contracts | May-21 | May-20 | % Chg. | Apr-21 | % Chg. | May-21 | May-20 | % Chg. |
| Trading Days | 20 | 20 | 21 | 102 | 103 | |||
| U.S. Multi-Listed Options Industry | 677,836,592 | 511,622,104 | 32.5% | 674,204,936 | 0.5% | 3,795,275,392 | 2,597,965,368 | 46.1% |
| MIAX Exchange Group | 99,698,170 | 63,216,613 | 57.7% | 95,374,791 | 4.5% | 518,330,920 | 299,248,499 | 73.2% |
| MIAX | 42,859,476 | 26,091,147 | 64.3% | 39,922,649 | 7.4% | 188,409,968 | 116,474,567 | 61.8% |
| MIAX Pearl | 37,559,901 | 24,860,957 | 51.1% | 35,721,054 | 5.1% | 194,952,431 | 122,380,963 | 59.3% |
| MIAX Emerald | 19,278,793 | 12,264,509 | 57.2% | 19,731,088 | -2.3% | 134,968,521 | 60,392,969 | 123.5% |
| Multi-Listed Options ADV | May-21 | May-20 | % Chg. | Apr-21 | % Chg. | May-21 | May-20 | % Chg. |
| U.S. Multi-Listed Options Industry | 33,891,830 | 25,581,105 | 32.5% | 32,104,997 | 5.6% | 37,208,582 | 25,222,965 | 47.5% |
| MIAX Exchange Group | 4,984,909 | 3,160,831 | 57.7% | 4,541,657 | 9.8% | 5,081,676 | 2,905,325 | 74.9% |
| MIAX | 2,142,974 | 1,304,557 | 64.3% | 1,901,079 | 12.7% | 1,847,157 | 1,130,821 | 63.3% |
| MIAX Pearl | 1,877,995 | 1,243,048 | 51.1% | 1,701,003 | 10.4% | 1,911,298 | 1,188,165 | 60.9% |
| MIAX Emerald | 963,940 | 613,225 | 57.2% | 939,576 | 2.6% | 1,323,221 | 586,340 | 125.7% |
| Multi-Listed Options Market Share for MIAX Exchange Group, Current Month | Year-to-Date Comparison | |||||||
| Multi-Listed Options Market Share | May-21 | May-20 | % Chg. | Apr-21 | % Chg. | May-21 | May-20 | % Chg. |
| MIAX Exchange Group | 14.71% | 12.36% | 19.0% | 14.15% | 4.0% | 13.66% | 11.52% | 18.6% |
| MIAX | 6.32% | 5.10% | 24.0% | 5.92% | 6.8% | 4.96% | 4.48% | 10.7% |
| MIAX Pearl | 5.54% | 4.86% | 14.0% | 5.30% | 4.6% | 5.14% | 4.71% | 9.0% |
| MIAX Emerald | 2.84% | 2.40% | 18.6% | 2.93% | -2.8% | 3.56% | 2.32% | 53.0% |
| Equities Trading Volume for MIAX Pearl Equities, Current Month | Year-to-Date Comparison | |||||||
| Equities Shares (millions) | May-21 | May-20 | % Chg. | Apr-21 | % Chg. | May-21 | May-20 | % Chg. |
| Trading Days | 20 | N/A | N/A | 21 | 102 | N/A | N/A | |
| U.S. Equities Volume – Industry | 212,728 | N/A | N/A | 207,994 | 2.3% | 1,314,390 | N/A | N/A |
| MIAX Pearl Volume | 565 | N/A | N/A | 452 | 25.1% | 2,488 | N/A | N/A |
| MIAX Pearl ADV | 28 | N/A | N/A | 22 | 31.3% | 24 | N/A | N/A |
| MIAX Pearl Market Share | 0.27% | N/A | N/A | 0.22% | 22.3% | 0.19% | N/A | N/A |
| Futures & Options Trading Volume for MGEX, Current Month | Year-to-Date Comparison | |||||||
| Futures & Options Contracts | May-21 | May-20 | % Chg. | Apr-21 | % Chg. | May-21 | May-20 | % Chg. |
| Trading Days | 20 | 20 | 21 | 102 | 103 | |||
| MGEX Volume | 261,078 | 134,909 | 93.5% | 322,207 | -19.0% | 1,371,447 | 1,106,310 | 24.0% |
| MGEX ADV | 13,054 | 6,745 | 93.5% | 15,343 | -14.9% | 13,446 | 10,741 | 25.2% |
May 2021 Market Share and Volume Records:
| MIAX Options | MIAX Exchange Group Multi-Listed Options Records | ||
| Single Day | Market Share | 16.56% | May 28, 2021 |
| Monthly | Market Share | 14.71% | May 2021 |
| MIAX Options | MIAX Multi-Listed Options Records | ||
| Single Day | Volume | 3,094,601 | May 28, 2021 |
| Monthly | Volume | 42,859,476 | May 2021 |
May 2021 operational achievements and announcements include:
MIH
- Announced the successful first day of trading in Corporate Tax Rate Futures on May 24, 2021. The cash-settled futures contracts are listed on MGEX via the CME Globex® platform and cleared by MGEX. Corporate Tax Futures are based on the SIL U.S. Corporate Tax Rate Index (CTAX) developed by SIG Index Licensing, LLC. The index is published and distributed by Bloomberg each day at 9:00 a.m. ET.
- Announced that the Bermuda Stock Exchange, a wholly owned subsidiary of MIH, has joined the United Nations (UN) Sustainable Stock Exchanges (SSE) initiative as a Partner Exchange. The SSE initiative is a peer-to-peer learning platform for exploring how exchanges can enhance corporate transparency on ESG (environmental, social and corporate governance) issues and encourage sustainable investment.
For further information regarding MIAX, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.
Corporate Communications Contacts:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
[email protected]
Natalie Kay, Karma Agency
215-790-7806
[email protected]
About MIAX
MIAX’s parent holding company, Miami International Holdings (MIH), operates and manages 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™), the Minneapolis Grain Exchange, LLC, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), and the Bermuda Stock Exchange.
The MIAX, MIAX Pearl and MIAX Emerald options exchanges leverage MIAX’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 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.
MGEX was established in 1881 and is the only market for Hard Red Spring Wheat (HRSW), SPIKES Futures, National Corn Index (NCI), National Soybean Index (NSI), Hard Red Winter Wheat Index (HRWI), Hard Red Spring Wheat Index (HRSI), and Soft Red Winter Wheat Index (SRWI) futures and options, as well as for HRSW calendar spread options (CSOs). In addition, MGEX provides DCM, DCO and cash market services to business partners in an array of asset classes. MGEX is also a Notice Registered Securities Future Product Exchange with the Securities and Exchange Commission.
MIAX’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL, Minneapolis, MN, and Hamilton, Bermuda.
To learn more about MIAX visit www.MIAXOptions.com.
To learn more about MGEX visit www.mgex.com.
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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