Miami International Holdings, Inc. (MIH) is an American company formed in 2007 that operates global financial exchanges and execution services. The company owns several U.S. exchanges for
equities
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
,
equity options, and
commodities. These include the MIAX Exchange Group — which is composed of MIAX, MIAX Pearl, MIAX Pearl Equities, and MIAX Emerald — and the
Minneapolis Grain Exchange
The Minneapolis Grain Exchange (MGEX) is a commodities and futures exchange of grain products. It was formed in 1881 in Minneapolis, Minnesota, United States as a regional cash marketplace to promote fair trade and to prevent trade abuses in whe ...
(MGEX). It also owns the
Bermuda Stock Exchange and Dorman Trading, a
Futures Commission Merchant
A commodity broker is a firm or an individual who executes orders to buy or sell commodity contracts on behalf of the clients and charges them a commission. A firm or individual who trades for his own account is called a trader. Commodity contra ...
. MIH also has a subsidiary, Miami International Technologies, which is focused on the sale and licensing of trading technology developed by MIAX Exchange Group.
History
MIH launched the Miami International Securities Exchange (MIAX) in 2012, after receiving approval from the
U.S. Securities and Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...
(SEC).
In 2019, MIH acquired a majority stake in the Bermuda Stock Exchange.
The company received approval from the SEC and launched MIAX Pearl Equities, MIH's first equities exchange, in 2020. MIAX Pearl Equities received backing and support from member firms such as
IMC Financial Markets
IMC Financial Markets, sometimes referred to as IMC Trading, is a proprietary trading firm and market maker for various financial instruments listed on exchanges throughout the world. Founded in 1989 as International Market makers Combination, ...
,
Susquehanna International Group,
Two Sigma Investments
Two Sigma Investments is a New York City-based hedge fund that uses a variety of technological methods, including artificial intelligence, machine learning, and distributed computing, for its trading strategies. The firm is run by John Overdec ...
,
Hudson River Trading
Hudson River Trading (HRT) is a quantitative trading firm headquartered in New York City and founded in 2002. In 2014, it accounted for about 5% of all trading in the United States.
Trading
Although HRT is often classified as engaging in high- ...
, and
Chicago Trading Company. The exchange also became a participant in the
UTP Plan.
In 2022, MIH acquired Dorman Trading, a full-service Futures Commission Merchant registered with the
Commodity Futures Trading Commission (CFTC). Subsequently, the company filed for a U.S. initial public offering with the SEC. MIH reported that its equities exchange, MIAX Pearl Equities, reached a record market share of 1.42% on April 27, 2022.
On April 25, 2023, MIH entered into an agreement to acquire LedgerX, a subsidiary of
FTX and a CFTC-regulated exchange and clearinghouse for
Bitcoin and
Ethereum
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (Abbreviation: ETH; sign: Ξ) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capita ...
options and futures, in connection with the bankruptcy proceedings of FTX.
Awards
In 2023, MIAX was named the "Best Trading Platform" at the Fund Intelligence Operations and Services Awards and selected as one of 40 organizations in the inaugural TabbFORUM's NOVA Awards.
See also
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Minneapolis Grain Exchange
The Minneapolis Grain Exchange (MGEX) is a commodities and futures exchange of grain products. It was formed in 1881 in Minneapolis, Minnesota, United States as a regional cash marketplace to promote fair trade and to prevent trade abuses in whe ...
*
Unlisted Trading Privileges
*
Options Price Reporting Authority
The Options Price Reporting Authority (OPRA) provides, through market data vendors, last sale information and current options quotations from a committee of participant exchanges designated as the Options Price Reporting Authority.
OPRA is a ...
*
List of stock exchanges in the Americas
This is a list of active stock exchanges in the Americas. Stock exchanges in Latin America (where Spanish and Portuguese prevail) use the term ''Bolsa de Valores'', meaning "bag" or "purse" of "values". (compare Börse in German or bourse in ...
References
External links
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{{Stock market
Electronic trading platforms
Stock exchanges in the United States
Companies based in Princeton, New Jersey