Miami International Holdings Reports September 2019 Trading Results for MIAX Exchange Group

PRINCETON, N.J., Oct. 8, 2019 /PRNewswire/ — Miami International Holdings, Inc. (MIH) today reported the September 2019 trading activity for its three fully electronic options exchanges – MIAX®, MIAX PEARL® and MIAX Emerald™ (together, the MIAX Exchange Group™). The MIAX Exchange Group collectively executed over 35.9 million equity option contracts in September for a combined average daily volume (ADV) of 1,799,882 contracts, representing a total U.S. equity options market share of 9.98%.


Trading Volume for MIAX Exchange Group,

Current Month

Year-to-Date Comparison
Equity Options Contracts Sept-19 Sept-18 % Chg. Aug-19 % Chg. Sept-19 Sept-18 % Chg.
Trading Days 20 19 22 188 188
U.S. Equity Options Industry 360,693,463 322,566,988 11.8% 418,770,313 -13.9% 3,285,898,055 3,319,482,111 -1.0%
MIAX Exchange Group 35,997,644 30,731,033 17.1% 43,160,673 -16.6% 325,500,007 301,748,757 7.9%
MIAX 13,958,514 14,591,474 -4.3% 15,848,772 -11.9% 130,062,867 149,805,448 -13.2%
MIAX PEARL 19,115,274 16,139,559 18.4% 24,174,456 -20.9% 176,858,486 151,943,309 16.4%
MIAX Emerald 2,923,856 3,137,445 -6.8% 18,578,654
Equity Options ADV Sept-19 Sept-18 % Chg. Aug-19 % Chg. Sept-19 Sept-18 % Chg.
U.S. Equity Options Industry 18,034,673 16,977,210 6.2% 19,035,014 -5.3% 17,478,181 17,656,820 -1.0%
MIAX Exchange Group 1,799,882 1,617,423 11.3% 1,961,849 -8.3% 1,731,383 1,605,047 7.9%
MIAX 697,926 767,972 -9.1% 720,399 -3.1% 691,824 796,837 -13.2%
MIAX PEARL 955,764 849,450 12.5% 1,098,839 -13.0% 940,737 808,209 16.4%
MIAX Emerald 146,193 142,611 2.5% 98,823
Equity Option Market Share for MIAX Exchange Group,

Current Month

Year-to-Date Comparison
Equity Options Market Share Sept-19 Sept-18 % Chg. Aug-19 % Chg. Sept-19 Sept-18 % Chg.
MIAX Exchange Group 9.98% 9.53% 4.8% 10.31% -3.2% 9.91% 9.09% 9.0%
MIAX 3.87% 4.52% -14.4% 3.78% 2.3% 3.96% 4.51% -12.3%
MIAX PEARL 5.30% 5.00% 5.9% 5.77% -8.2% 5.38% 4.58% 17.6%
MIAX Emerald 0.81% 0.75% 8.2% 0.57%

Other news and achievements include:


  • Announced that futures on the SPIKES® Volatility Index (SPIKES) are expected to launch on the Minneapolis Grain Exchange (MGEX) on November 18, 2019, subject to Commodity Futures Trading Commission (CFTC) approval.
  • SPIKES Futures will be available on MGEX via the CME Globex® platform, providing the SPIKES Futures product with significant distribution from day one.
  • With the launch of SPIKES Futures, MIAX and MGEX will serve as the exclusive exchanges for SPIKES derivatives products, following a partnership agreement between MIH and MGEX.

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

Corporate Communications Contact:
Dominique Prunetti-Miller
(609) 897-1465

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 fully electronic options trading exchanges.

MIAX, MIAX PEARL and MIAX Emerald 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).

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

To learn more about MIH and the MIAX Exchange Group visit

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