Press Release

Miami International Holdings Reports Trading Results for December and Full-Year 2021; MIAX Exchange Group Sets Multiple Volume and Market Share Records

PRINCETON, N.J., Jan. 18, 2022  /PRNewswire/ — Miami International Holdings, Inc. today reported December and 2021 full-year trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group™) and Minneapolis Grain Exchange (MGEX™) with multiple market share and volume records reached over the course of the year.  December and full-year 2021 market share and volume milestones include:

MIAX Exchange Group

  • The MIAX Exchange Group collectively traded a record 1.34 billion multi-listed options contracts in 2021, a 61.8% increase from 2020 and representing an average daily volume (ADV) of 5,309,972 contracts.
  • Total multi-list options contract in December 2021 totaled 113.0 million contracts, representing a market share of 14.22% and a 42.4% increase from December 2020.
  • Total U.S. multi-listed options market share reached a record 14.29% in 2021, 248 basis points higher than the 11.81% market share in 2020 and representing a 21.0% increase in market share.
  • All three MIAX options exchanges reported record annual multi-list option volume totals in 2021, with MIAX Options reporting volume of 522.6 million contracts, a 58.3% increase; MIAX Pearl, 427.0 million contracts, a 45.5% increase; and MIAX Emerald, 388.6 million contracts, a 90.7% increase.
  • MIAX Emerald reported a new annual market share record in 2021, accounting for 4.15% of total industry multi-list option volume.

MIAX Pearl Equities™

  • MIAX Pearl Equities™ reported record volume of 11.07 billion shares in 2021, as compared to 349.8 million shares in 2020 (MIAX Pearl Equities launched in September, 2020).
  • MIAX Pearl equities reported both a monthly volume record of 1.94 billion shares and a market share record of 0.81% in December of 2021.
  • MIAX Pearl Equities volume reached a record daily volume of 161.2 million shares on December 3, 2021, which also represented a daily record market share of 1.15%.

Minneapolis Grain Exchange

  • MGEX reported record volume of 3,873,016 futures and options contracts in 2021, an increase of 40.0% from 2020.
  • Hard Red Spring Wheat trading set annual records in both futures and options, with total volume of 2,997,693 and 123,079 contracts, respectively in 2021.
  • SPIKES® Futures volume totaled 752,240 contracts in 2021, after MIAX received approval from the U.S. Securities and Exchange Commission to relaunch SPIKES Futures in December 2020.  New trading incentives enacted on July 1, 2021 contributed to volume totals in the second half of 2021, with 741,819 contracts traded, compared to 10,421 contracts traded in the first half of 2021. ADV for SPIKES® Futures in the second half of 2021 was 5,795 contracts, compared to 84 contracts in the first half of 2021.

Additional MIAX Exchange Group volume records are highlighted in the tables included below.

Multi-Listed Options Trading Volume for

 MIAX Exchange Group, Current Month

Year-to-Date Comparison
Multi-Listed Options Contracts Dec-21 Dec-20 % Chg Nov-21 % Chg Dec-21 Dec-20 % Chg
Trading Days 22 22 21 252 253
U.S. Equity Options Industry 794,555,696 719,646,140 10.4% 898,166,403 -11.5% 9,366,823,566 7,004,304,148 33.7%
MIAX Exchange Group 113,005,405 79,347,042 42.4% 124,657,770 -9.3% 1,338,112,960 827,187,596 61.8%
MIAX Options 42,812,426 31,200,513 37.2% 50,452,313 -15.1% 522,549,941 330,036,680 58.3%
MIAX Pearl 31,633,894 22,347,253 41.6% 34,378,589 -8.0% 427,001,176 293,410,388 45.5%
MIAX Emerald 38,559,085 25,799,276 49.5% 39,826,868 -3.2% 388,561,843 203,740,528 90.7%
Multi-Listed Options ADV Dec-21 Dec-20 % Chg Nov-21 % Chg Dec-21 Dec-20 % Chg
U.S. Multi-Listed Options Industry 36,116,168 32,711,188 10.4% 42,769,829 -15.6% 37,169,935 27,684,997 34.3%
MIAX Exchange Group 5,136,609 3,606,684 42.4% 5,936,084 -13.5% 5,309,972 3,269,516 62.4%
MIAX 1,946,019 1,418,205 37.2% 2,402,491 -19.0% 2,073,611 1,304,493 59.0%
MIAX Pearl 1,437,904 1,015,784 41.6% 1,637,076 -12.2% 1,694,449 1,159,725 46.1%
MIAX Emerald 1,752,686 1,172,694 49.5% 1,896,518 -7.6% 1,541,912 805,299 91.5%
Multi-Listed Options Market Share for

MIAX Exchange Group, Current Month

Year-to-Date Comparison
Multi-Listed Options Market Share Dec-21 Dec-20 % Chg Nov-21 % Chg Dec-21 Dec-20 % Chg
MIAX Exchange Group 14.22% 11.03% 29.0% 13.88% 2.5% 14.29% 11.81% 21.0%
MIAX 5.39% 4.34% 24.3% 5.62% -4.1% 5.58% 4.71% 18.4%
MIAX Pearl 3.98% 3.11% 28.2% 3.83% 4.0% 4.56% 4.19% 8.8%
MIAX Emerald 4.85% 3.58% 35.4% 4.43% 9.4% 4.15% 2.91% 42.6%
Equities Trading Volume for

MIAX Pearl Equities, Current Month

Year-to-Date Comparison
Equities Shares (millions) Dec-21 Dec-20 % Chg Nov-21 % Chg Dec-21 Dec-20 % Chg
Trading Days 22 22 21 252 NM
U.S. Equities Volume – Industry 238,596 240,220 -0.7% 233,151 2.3% 2,869,009 NM NM
MIAX Pearl Volume 1,940 268 NM 1,610 20.5% 11,066 NM NM
MIAX Pearl ADV 88 12 NM 77 15.0% 44 NM NM
MIAX Pearl Market Share 0.81% 0.11% NM 0.69% 17.7% 0.39% NM NM
NM – Not meaningful
Futures & Options Trading Volume for

MGEX, Current Month

Year-to-Date Comparison
Futures & Options Contracts Dec-21 Dec-20 % Chg Nov-21 % Chg Dec-21 Dec-20 % Chg
Trading Days 22 22 21 252 253
MGEX Volume 215,062 211,067 1.9% 420,826 -48.9% 3,873,016 2,766,442 40.0%
MGEX ADV 9,776 9,594 1.9% 20,039 -51.2% 15,369 10,935 40.6%

2021 Market Share and Volume Records:

miax MIAX Exchange Group Options Records
Single Day Market Share 16.82% August 6, 2021
Volume 8,126,083 March 5, 2021
Monthly Market Share 15.53% July 2021
Volume 127,701,099 June 2021
Annual Market Share 14.29% 2021
Volume 1,388,112,960 2021
miax
Options
MIAX Options Records
Single Day Volume 3,203,327 November 5, 2021
Monthly Volume 55,410,315 June 2021
Annual Volume 522,549,941 2021

 

 

 

miax
Pearl Options
MIAX Pearl Options Records
Single Day Market Share 6.92% March 5, 2021
Volume 3,506,013 March 5, 2021
Monthly Market Share 6.09% March 2021
Volume 52,194,814 March 2021
Annual Volume 427,001,176 2021
 miax
Emerald
MIAX Emerald Options Records
Single Day Market Share 6.92% July 29, 2021
Volume 3,392,372 January 27, 2021
Monthly Market Share 5.49% August 2021
Volume 41,821,523 August 2021
Annual Market Share 4.15% 2021
Volume 388,561,843 2021
 miax
Pearl Equities
MIAX Pearl Equity Records
Single Day Market Share 1.15% December 3, 2021
Volume 161,173,623 December 3, 2021
Monthly Market Share 0.81% December 2021
Volume 1,940,287,963 December 2021
Annual Market Share 0.39% 2021
Volume 11,066,336,629 2021

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®), Minneapolis Grain Exchange, LLC (MGEX), and Bermuda Stock Exchange (BSX).

MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission (SEC) that leverage MIAX’s industry-leading technology and infrastructure to provide U.S. listed options trading to their member firms. MIAX 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). In addition to options, MIAX Pearl facilitates the trading of cash equities through MIAX Pearl Equities™.

MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and is a Notice Registered Securities Futures Product Exchange with the SEC. MGEX serves as the exclusive market for a variety of products including Hard Red Spring Wheat, SPIKES Futures, BRIXX Commercial Real Estate Futures and TAX Futures. MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM, DCO and cash market services in an array of asset classes.

BSX is a leading electronic international securities market regulated by the Bermuda Monetary Authority (BMA) specializing in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance linked securities. A full member of the World Federation of Exchanges and affiliate member of the International Organization of Securities Commissions, BSX is globally recognized, including by the SEC.

MIAX’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL, Minneapolis, MN, and Hamilton, Bermuda.

To learn more about MIAX visit www.MIAXOptions.com.

To learn more about MGEX visit www.mgex.com.

To learn more about BSX visit www.bsx.com.

Media Contact:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
anybo@miami-holdings.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. 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. The Company disclaims any obligation to update any forward-looking statements, except as required by law.

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.

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Author Since: Dec 03, 2021

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