MIAMI and PRINCETON, N.J., May 6, 2025 /PRNewswire/ -- Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today reported April 2025 trading results for its U.S. exchange subsidiaries--MIAX(®), MIAX Pearl(®), MIAX Emerald(®) and MIAX Sapphire(TM) (collectively, the MIAX Exchange Group), and MIAX Futures(TM).
https://mma.prnewswire.com/media/2635716/MIAX_new_Logo.jpg [https://mma.prnewswire.com/media/2635716/MIAX_new_Logo.jpg]
April 2025 Trading Volume and Market Share Highlights
-- Total multi-listed options volume for the MIAX Exchange Group reached a
record 191.1 million contracts in April 2025, a 33.8% increase
year-over-year (YoY) and bringing total year-to-date (YTD) volume to a
record 706.0 million contracts. April 2025 market share reached 16.4%, a
6.3% increase YoY. The MIAX Exchange Group set a new daily volume record
of 13.5 million contracts on April 4, 2025.
-- MIAX Sapphire reached a record monthly volume of 36.8 million contracts,
with April 2025 market share reaching a record 3.2%. MIAX Sapphire
launched trading on August 12, 2024 and now has over 3,800 classes
available for trading. MIAX Sapphire set a new daily volume record of
3.0 million contracts on April 9, 2025 and a new daily market share
record of 4.0% on April 14, 2025.
-- MIAX Options reached a record monthly volume of 81.5 million contracts,
a 42.0% increase YoY. April 2025 market share reached 7.0%, a 12.8%
increase YoY. MIAX Options YTD volume and market share reached record
levels at 301.0 million contracts and 6.9%, respectively. MIAX Options
set a new daily volume record of 5.9 million contracts on April 4, 2025.
-- MIAX Pearl Options reached a monthly volume of 30.8 million contracts, a
38.3% decrease YoY. April 2025 market share reached 2.7%, a 50.9%
decrease YoY.
-- MIAX Emerald reached a monthly volume of 42.0 million contracts, an
18.3% increase YoY. April 2025 market share reached 3.6%, a 6.0%
decrease YoY. MIAX Emerald YTD volume and market share reached record
levels at 176.3 million contracts and 4.0%, respectively.
-- In U.S. equities, MIAX Pearl Equities(TM) reached a monthly volume of
4.3 billion shares, a 14.9% decrease YoY and representing a market share
of 1.1%, a 49.4% decrease YoY. MIAX Pearl Equities set a new daily
volume record of 351.1 million contracts on April 9, 2025.
-- In U.S. futures, MIAX Futures, a Designated Contract Market (DCM) and
Derivatives Clearing Organization (DCO), reached a monthly volume of
375,074 contracts, a 10.3% increase YoY. MIAX Futures YTD volume and
average daily volume (ADV) reached record levels at 1.5 million
contracts and 17,966 contracts, respectively.
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 Year-to-Date Comparison MIAX Exchange Group, Current Month Multi-Listed Options Apr-25 Apr-24 % Chg Mar-25 % Chg Apr-25 Apr-24 % Chg Contracts Trading Days 21 22 21 81 83 U.S. Equity Options Industry 1,162,132,224 923,580,569 25.8 % 1,116,829,888 4.1 % 4,378,365,285 3,565,541,087 22.8 % MIAX Exchange Group 191,086,968 142,830,981 33.8 % 173,627,993 10.1 % 705,990,413 565,561,950 24.8 % MIAX Options 81,482,929 57,387,191 42.0 % 76,372,997 6.7 % 301,011,287 227,664,575 32.2 % MIAX Pearl 30,839,954 49,961,636 -38.3 % 31,361,142 -1.7 % 126,136,381 203,496,936 -38.0 % MIAX Emerald 41,960,966 35,482,154 18.3 % 42,508,956 -1.3 % 176,270,134 134,400,439 31.2 % MIAX Sapphire 36,803,119 23,384,898 57.4 % 102,572,611 Multi-Listed Options ADV Apr-25 Apr-24 % Chg Mar-25 % Chg Apr-25 Apr-24 % Chg U.S. Equity Options Industry 55,339,630 41,980,935 31.8 % 53,182,376 4.1 % 54,053,892 42,958,326 25.8 % MIAX Exchange Group 9,099,379 6,492,317 40.2 % 8,268,000 10.1 % 8,715,931 6,813,999 27.9 % MIAX Options 3,880,139 2,608,509 48.7 % 3,636,809 6.7 % 3,716,189 2,742,947 35.5 % MIAX Pearl 1,468,569 2,270,983 -35.3 % 1,493,388 -1.7 % 1,557,239 2,451,770 -36.5 % MIAX Emerald 1,998,141 1,612,825 23.9 % 2,024,236 -1.3 % 2,176,174 1,619,282 34.4 % MIAX Sapphire 1,752,529 1,113,567 57.4 % 1,266,329 Multi-Listed Options Market Share for Year-to-Date Comparison MIAX Exchange Group, Current Month Multi-Listed Options Market Apr-25 Apr-24 % Chg Mar-25 % Chg Apr-25 Apr-24 % Chg Share MIAX Exchange Group 16.44 % 15.46 % 6.3 % 15.55 % 5.8 % 16.12 % 15.86 % 1.7 % MIAX Options 7.01 % 6.21 % 12.8 % 6.84 % 2.5 % 6.87 % 6.39 % 7.7 % MIAX Pearl 2.65 % 5.41 % -50.9 % 2.81 % -5.5 % 2.88 % 5.71 % -49.5 % MIAX Emerald 3.61 % 3.84 % -6.0 % 3.81 % -5.1 % 4.03 % 3.77 % 6.8 % MIAX Sapphire 3.17 % 2.09 % 51.2 % 2.34 %
(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.
Equities Trading Volume for Year-to-Date Comparison MIAX Pearl Equities, Current Month Equities Shares (millions) Apr-25 Apr-24 % Chg Mar-25 % Chg Apr-25 Apr-24 % Chg Trading Days 21 22 21 81 83 U.S. Equities Industry 405,683 241,143 68.2 % 336,175 20.7 % 1,347,371 958,929 40.5 % MIAX Pearl Volume 4,326 5,083 -14.9 % 3,427 26.2 % 14,883 18,234 -18.4 % MIAX Pearl ADV 206 231 -10.8 % 163 26.2 % 184 220 -16.4 % MIAX Pearl Market Share 1.07 % 2.11 % -49.4 % 1.02 % 4.6 % 1.10 % 1.90 % -41.9 % Futures and Options Trading Volume for Year-to-Date Comparison MIAX Futures, Current Month Futures & Options Contracts Apr-25 Apr-24 % Chg Mar-25 % Chg Apr-25 Apr-24 % Chg Trading Days 21 22 21 82 83 MIAX Futures Volume 375,074 339,956 10.3 % 309,006 21.4 % 1,473,190 1,061,210 38.8 % MIAX Futures ADV 17,861 15,453 15.6 % 14,715 21.4 % 17,966 12,786 40.5 % MIAX Futures Open Interest 80,546 57,003 41.3 % 95,158 -15.4 %
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(TM)), MIAX Futures Exchange, LLC (MIAX Futures(TM)), MIAX Derivatives Exchange (MIAXdx(TM)), 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(TM). 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 Futures is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including 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 [https://c212.net/c/link/?t=0&l=en&o=4420929-1&h=4262414102&u=http%3A%2F%2Fwww.miaxglobal.com%2F&a=www.miaxglobal.com].
To learn more about MIAX Futures visit www.miaxglobal.com/miax-futures [https://c212.net/c/link/?t=0&l=en&o=4420929-1&h=2111986220&u=http%3A%2F%2Fwww.miaxglobal.com%2Fmiax-futures&a=www.miaxglobal.com%2Fmiax-futures].
To learn more about MIAXdx visit www.miaxdx.com [https://c212.net/c/link/?t=0&l=en&o=4420929-1&h=2174954393&u=http%3A%2F%2Fwww.ledgerx.com%2F&a=www.miaxdx.com].
To learn more about BSX visit www.bsx.com [https://c212.net/c/link/?t=0&l=en&o=4420929-1&h=3055931052&u=http%3A%2F%2Fwww.bsx.com%2F&a=www.bsx.com].
To learn more about Dorman Trading visit www.dormantrading.com [https://c212.net/c/link/?t=0&l=en&o=4420929-1&h=3099566525&u=http%3A%2F%2Fwww.dormantrading.com%2F&a=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 [mailto:anybo@miaxglobal.com]
Logo - https://mma.prnewswire.com/media/2635716/MIAX_new_Logo.jpg [https://c212.net/c/link/?t=0&l=en&o=4420929-1&h=4003509032&u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F2635716%2FMIAX_new_Logo.jpg&a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F2635716%2FMIAX_new_Logo.jpg]
View original content:https://www.prnewswire.co.uk/news-releases/miami-international-holdings-reports-trading-results-for-april-2025-record-monthly-and-ytd-volume-and-market-share-across-multiple-exchanges-as-options-volume-jumps-33-8-302447260.html [https://www.prnewswire.co.uk/news-releases/miami-international-holdings-reports-trading-results-for-april-2025-record-monthly-and-ytd-volume-and-market-share-across-multiple-exchanges-as-options-volume-jumps-33-8-302447260.html]
Photo: https://mma.prnewswire.com/media/2635716/MIAX_new_Logo.jpg MIAX
