MIAX Sapphire Market Share Surpasses 1.1% in September 2024
MIAMI and PRINCETON, N.J. , Oct. 10, 2024 /PRNewswire/ — Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today reported September 2024 trading results for its U.S. exchange subsidiaries – MIAX® , MIAX Pearl® , MIAX Emerald® and MIAX Sapphire™ (collectively, the MIAX Exchange Group), and MIAX Futures™ .
September 2024 and Year-to-Date Trading Volume and Market Share Highlights
Total multi-listed options volume for the MIAX Exchange Group reached 124.6 million contracts, a 7.0% increase year-over-year (YoY). September 2024 market share reached 14.2%, a 7.1% decrease YoY. Total year-to-date (YTD) volume reached 1.2 billion contracts, a 0.3% decrease from the same period in 2023. MIAX Sapphire reached a monthly volume of 9.8 million contracts, with September 2024 market share reaching 1.1%. MIAX Sapphire launched trading on August 12, 2024, listing a single class for the first week and additional classes in multiple phases on a weekly schedule through the week of October 21, 2024 , at which time more than 3,800 classes will be available for trading. MIAX Options reached a monthly volume of 52.6 million contracts, a 12.9% increase YoY. September 2024 market share reached 6.0%, a 2.0% decrease YoY. Total YTD volume reached a record 506.0 million contracts, a 4.6% increase from the same period in 2023. MIAX Pearl Options reached a monthly volume of 28.8 million contracts, a 39.9% decrease YoY. September 2024 market share reached 3.3%, a 47.9% decrease YoY. Total YTD volume reached 372.0 million contracts, a 25.5% decrease from the same period in 2023. MIAX Emerald Options reached a monthly volume of 33.5 million contracts, a 52.0% increase YoY. September 2024 market share reached 3.8%, a 32.0% increase YoY. Total YTD volume reached a record 316.6 million contracts, a 39.8% increase from the same period in 2023. In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 4.1 billion shares, an 8.7% increase YoY and representing a market share of 1.7%, a 5.2% decrease YoY. Total YTD volume reached a record 37.9 billion shares, a 17.0% increase from the same period in 2023. YTD market share reached a record 1.7%, a 9.5% increase from the same period in 2023. In U.S. futures, MIAX Futures, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 185,195 contracts, a 3.6% decrease YoY. Additional MIAX Exchange Group and MIAX Futures trading volume and market share information are included in the tables below.
Multi-Listed Options Trading Volume for
MIAX Exchange Group, Current Month
Year-to-Date Comparison
Multi-Listed Options
Contracts
Sep-24
Sep-23
% Chg
Aug-24
% Chg
Sep-24
Sep-23
% Chg
Trading Days
20
20
22
188
187
U.S. Equity Options Industry
879,099,779
763,134,859
15.2 %
962,386,101
-8.7 %
8,136,518,110
7,560,157,102
7.6 %
MIAX Exchange Group
124,601,088
116,458,284
7.0 %
131,705,816
-5.4 %
1,205,501,741
1,209,591,615
-0.3 %
MIAX Options
52,557,584
46,537,747
12.9 %
61,027,610
-13.9 %
506,029,246
483,939,342
4.6 %
MIAX Pearl
28,765,237
47,901,118
-39.9 %
30,611,320
-6.0 %
372,010,823
499,215,133
-25.5 %
MIAX Emerald
33,473,285
22,019,419
52.0 %
39,015,174
-14.2 %
316,604,978
226,437,140
39.8 %
MIAX Sapphire(1)
9,804,982
–
–
1,051,712
832.3 %
10,856,694
–
–
Multi-Listed Options ADV
Sep-24
Sep-23
% Chg
Aug-24
% Chg
Sep-24
Sep-23
% Chg
U.S. Equity Options Industry
43,954,989
38,156,743
15.2 %
43,744,823
0.5 %
43,279,352
40,428,648
7.1 %
MIAX Exchange Group
6,230,054
5,822,914
7.0 %
5,986,628
4.1 %
6,412,243
6,468,404
-0.9 %
MIAX Options
2,627,879
2,326,887
12.9 %
2,773,982
-5.3 %
2,691,645
2,587,911
4.0 %
MIAX Pearl
1,438,262
2,395,056
-39.9 %
1,391,424
3.4 %
1,978,781
2,669,600
-25.9 %
MIAX Emerald
1,673,664
1,100,971
52.0 %
1,773,417
-5.6 %
1,684,069
1,210,894
39.1 %
MIAX Sapphire(1)
490,249
–
–
47,805
925.5 %
57,748
–
–
Multi-Listed Options Market Share for
MIAX Exchange Group, Current Month
Year-to-Date Comparison
Multi-Listed Options Market
Share
Sep-24
Sep-23
% Chg
Aug-24
% Chg
Sep-24
Sep-23
% Chg
MIAX Exchange Group
14.17 %
15.26 %
-7.1 %
13.69 %
3.6 %
14.82 %
16.00 %
-7.4 %
MIAX Options
5.98 %
6.10 %
-2.0 %
6.34 %
-5.7 %
6.22 %
6.40 %
-2.8 %
MIAX Pearl
3.27 %
6.28 %
-47.9 %
3.18 %
2.9 %
4.57 %
6.60 %
-30.8 %
MIAX Emerald
3.81 %
2.89 %
32.0 %
4.05 %
-6.1 %
3.89 %
3.00 %
29.9 %
MIAX Sapphire(1)
1.12 %
–
–
0.11 %
920.6 %
0.13 %
–
–
(1)
MIAX Sapphire launched trading on August 12, 2024, listing a single class for the first week and additional classes in multiple phases on a weekly schedule through the week of October 21, 2024, at which time more than 3,800 classes will be available for trading.
Equities Trading Volume for
MIAX Pearl Equities, Current Month
Year-to-Date Comparison
Equities Shares (millions)
Sep-24
Sep-23
% Chg
Aug-24
% Chg
Sep-24
Sep-23
% Chg
Trading Days
20
20
22
188
187
U.S. Equities Industry
237,154
206,831
14.7 %
252,333
-6.0 %
2,194,890
2,054,761
6.8 %
MIAX Pearl Volume
4,054
3,730
8.7 %
4,003
1.3 %
37,874
32,376
17.0 %
MIAX Pearl ADV
203
187
8.7 %
182
11.4 %
201
173
16.4 %
MIAX Pearl Market Share
1.71 %
1.80 %
-5.2 %
1.59 %
7.8 %
1.73 %
1.58 %
9.5 %
Futures & Options Trading Volume and Open Interest for MIAX
Futures, Current Month
Year-to-Date Comparison
Futures Contracts
Sep-24
Sep-23
% Chg
Aug-24
% Chg
Sep-24
Sep-23
% Chg
Trading Days
20
20
22
188
187
MIAX Futures Volume
185,195
192,064
-3.6 %
373,653
-50.4 %
2,411,625
2,191,523
10.0 %
MIAX Futures ADV
9,260
9,603
-3.6 %
16,984
-45.5 %
12,828
11,719
9.5 %
MIAX Futures Open Interest
79,682
75,234
5.9 %
81,709
-2.5 %
About MIAX
MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX® ), MIAX PEARL, LLC (MIAX Pearl® ), MIAX Emerald, LLC (MIAX Emerald® ), MIAX Sapphire, LLC (MIAX Sapphire™), MIAX Futures Exchange, LLC (MIAX Futures™), LedgerX LLC d/b/a MIAX Derivatives Exchange (MIAXdx™), The Bermuda Stock Exchange (BSX™) and Dorman Trading, LLC (Dorman Trading).
MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism. MIAX also 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).
MIAX Futures is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Minneapolis Hard Red Spring Wheat Futures. MIAX Futures is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes.
MIAXdx is a CFTC regulated exchange and clearinghouse and is registered as a DCM, DCO, and Swap Execution Facility (SEF) with the CFTC.
BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.
Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.
MIAX’s executive offices and National Operations Center are located in Princeton, N.J. , with additional U.S. offices located in Chicago, IL and Miami, FL. MIAX Futures offices are located in Minneapolis, MN. MIAXdx offices are located in Princeton, N.J. BSX offices are located in Hamilton, Bermuda . Dorman Trading offices are located in Chicago, IL.
To learn more about MIAX visit www.miaxglobal.com .
To learn more about MIAX Futures visit www.miaxglobal.com/miax-futures .
To learn more about MIAXdx visit www.miaxdx.com .
To learn more about BSX visit www.bsx.com .
To learn more about Dorman Trading visit www.dormantrading.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. All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.
Media contact:
Andy Nybo , SVP, Chief Communications Officer
(609) 955-2091
anybo@miaxglobal.com
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SOURCE MIAX