MIAX Options Exchange Celebrates First Anniversary and Hits Milestones
PRINCETON, New Jersey, Dec. 11, 2013 – MIAX Options Exchange (MIAX) celebrated its one year anniversary on December 7th and announced that it achieved an uptime of 100% in its first year of operation. MIAX also celebrated another milestone as a record number of contracts traded on MIAX on December 6, 2013 – in excess of 500,000 contracts – representing 3.36% of equity options volume.
“We are very excited to have reached these milestones and thank our members and supporters for their confidence in MIAX,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. Doug Schafer, Executive Vice President and Chief Information Officer of MIAX added, “As we move into our second year of operation, the MIAX team is laser focused on delivering the additional functionality, features and protections requested by our members while continuing to maintain our reputation for providing a quality customer experience.”
MIAX also announced that it recently gained approval to join the World Federation of Exchanges (WFE) as a Correspondent Exchange. The World Federation of Exchanges is a trade association for operators of regulated financial exchanges. With 63 members from around the globe, the WFE develops and promotes standards in markets, supporting reform in the regulation of OTC derivatives markets, international cooperation and coordination among regulators.
“We thank the WFE Board of Directors for their consideration and approval of MIAX as a Correspondent Exchange,” said Edward Deitzel, Executive Vice President and Chief Regulatory Officer of MIAX.
For further information regarding the MIAX Options Exchange, including product listings, fee schedule, news and recent developments, member onboarding, and technology onboarding, including specifications and requirements, please visit www.MIAXOptions.com or contact MIAX Trading Operations at [email protected].
About MIAX and MIH
MIAX, which commenced operations on December 7, 2012, is a fully electronic options trading exchange approved by the SEC as a national securities exchange on December 3, 2012. MIAX has assembled a team with deep rooted experience in developing, operating and trading on options exchanges. Its trading platform has been developed in-house and designed from the ground up for the unique functional and performance demands of derivatives trading. MIAX Options now lists and trades options on the majority of the top 840 multiply listed classes. The MIAX Options Exchange’s unparalleled system throughput is in excess of 24 million quotes per second. The average latency for a single quote on MIAX is 27.6 microseconds for a full round trip. At the 99th percentile, the latency on MIAX is 39.7 microseconds. At the 99.9th percentile, the latency on MIAX is 56.4 microseconds. The MIAX executive offices and technology development center as well as the National Operations Center for the MIAX Options Exchange are located in Princeton, New Jersey.
MIAX and Miami International Technologies, LLC (MIAX Technologies) are wholly-owned subsidiaries of Miami International Holdings, Inc. (MIH). MIAX Technologies is the Company’s technology subsidiary for the sale and/or license of the MIAX trading technology. MIAX intends to launch the MIAX Equities Exchange and plans to pursue Latin American equity listings. The launch of the MIAX Equities Exchange is subject to SEC approval. The MIAX Futures Exchange is also planned as a follow-on initiative. The launch of the MIAX Futures Exchange is subject to CFTC approval.