PRINCETON, New Jersey, Aug. 3, 2015 / PRNewswire – MIAX Options Exchange (MIAX®) announced today that it established new monthly volume records for total contracts executed on MIAX and average daily volume (ADV) during July 2015. For the month, over 24.5 million contracts were executed on MIAX, equating to an ADV of over 1.1 million contracts. MIAX’s record monthly ADV represented an 89% increase compared to its July 2014 ADV, while the over 24.5 million contracts executed on MIAX represented a 98% increase from the approximately 12.4 million contracts executed in July 2014.
In commenting on these recent results, Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX, stated, “We are pleased with our July 2015 performance results, especially on July 24th when MIAX established its new single day contract volume record with a total of over 1.6 million executed contracts and again on July 31st when MIAX established a new single day market share record of over 8.5% of national equity options volume.” Gallagher commented further, “We look forward to MIAX experiencing increased volume and market share growth during the second half of 2015, and we thank our MIAX member firms for their continued support.”
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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 over 2,300 multi-listed classes. The MIAX Options Exchange’s unparalleled system throughput is approximately 27 million quotes per second. The average latency for a single quote on MIAX is approximately 28.89 microseconds for a full round trip. At the 99th percentile, the latency on MIAX is approximately 43.90 microseconds. At the 99.9th percentile, the latency on MIAX is approximately 79.01 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, Miami International Technologies, LLC (MIAX Technologies) and MIAX Global, LLC (MIAX Global) 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 MIAX trading technology. MIAX Global focuses on the Company’s trading, technology and other projects based outside of North America, initially focusing on Europe and Latin America.
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 MIH, 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. Such forward-looking statements include, but are not limited to, statements concerning the plans, objectives, expectations and intentions and other statements that are not historical or current facts of MIH, together with its subsidiaries, including MIAX (the Company). Forward-looking statements include, but are not limited to, statements about the possible or assumed future results of operations of the Company; the competitive position of the Company; potential growth opportunities available to the Company; the expectation with respect to securities, options and future markets and general economic conditions; the effects of competition on the Company’s business; and the impact of future legislation and regulatory changes on the Company’s business. Forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements.