Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, reported September 2024 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl®, MIAX Emerald® and MIAX Sapphire™ (collectively, the MIAX Exchange Group), and MIAX Futures™.
September 2024 and Year-to-Date Trading Volume and Market Share Highlights
- Total multi-listed options volume for the MIAX Exchange Group reached 124.6 million contracts, a 7.0% increase year-over-year (YoY). September 2024 market share reached 14.2%, a 7.1% decrease YoY. Total year-to-date (YTD) volume reached 1.2 billion contracts, a 0.3% decrease from the same period in 2023.
- MIAX Sapphire reached a monthly volume of 9.8 million contracts, with September 2024 market share reaching 1.1%. 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, at which time more than 3,800 classes will be available for trading.
- MIAX Options reached a monthly volume of 52.6 million contracts, a 12.9% increase YoY. September 2024 market share reached 6.0%, a 2.0% decrease YoY. Total YTD volume reached a record 506.0 million contracts, a 4.6% increase from the same period in 2023.
- MIAX Pearl Options reached a monthly volume of 28.8 million contracts, a 39.9% decrease YoY. September 2024 market share reached 3.3%, a 47.9% decrease YoY. Total YTD volume reached 372.0 million contracts, a 25.5% decrease from the same period in 2023.
- MIAX Emerald Options reached a monthly volume of 33.5 million contracts, a 52.0% increase YoY. September 2024 market share reached 3.8%, a 32.0% increase YoY. Total YTD volume reached a record 316.6 million contracts, a 39.8% increase from the same period in 2023.
- In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 4.1 billion shares, an 8.7% increase YoY and representing a market share of 1.7%, a 5.2% decrease YoY. Total YTD volume reached a record 37.9 billion shares, a 17.0% increase from the same period in 2023. YTD market share reached a record 1.7%, a 9.5% increase from the same period in 2023.
- In U.S. futures, MIAX Futures, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 185,195 contracts, a 3.6% decrease YoY.
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 MIAX Exchange Group, Current Month |
Year-to-Date Comparison |
|||||||
|
Multi-Listed Options |
Sep-24 |
Sep-23 |
% Chg |
Aug-24 |
% Chg |
Sep-24 |
Sep-23 |
% Chg |
|
Trading Days |
20 |
20 |
22 |
188 |
187 |
|||
|
U.S. Equity Options Industry |
879,099,779 |
763,134,859 |
15.2 % |
962,386,101 |
-8.7 % |
8,136,518,110 |
7,560,157,102 |
7.6 % |
|
MIAX Exchange Group |
124,601,088 |
116,458,284 |
7.0 % |
131,705,816 |
-5.4 % |
1,205,501,741 |
1,209,591,615 |
-0.3 % |
|
MIAX Options |
52,557,584 |
46,537,747 |
12.9 % |
61,027,610 |
-13.9 % |
506,029,246 |
483,939,342 |
4.6 % |
|
MIAX Pearl |
28,765,237 |
47,901,118 |
-39.9 % |
30,611,320 |
-6.0 % |
372,010,823 |
499,215,133 |
-25.5 % |
|
MIAX Emerald |
33,473,285 |
22,019,419 |
52.0 % |
39,015,174 |
-14.2 % |
316,604,978 |
226,437,140 |
39.8 % |
|
MIAX Sapphire(1) |
9,804,982 |
– |
– |
1,051,712 |
832.3 % |
10,856,694 |
– |
– |
|
Multi-Listed Options ADV |
Sep-24 |
Sep-23 |
% Chg |
Aug-24 |
% Chg |
Sep-24 |
Sep-23 |
% Chg |
|
U.S. Equity Options Industry |
43,954,989 |
38,156,743 |
15.2 % |
43,744,823 |
0.5 % |
43,279,352 |
40,428,648 |
7.1 % |
|
MIAX Exchange Group |
6,230,054 |
5,822,914 |
7.0 % |
5,986,628 |
4.1 % |
6,412,243 |
6,468,404 |
-0.9 % |
|
MIAX Options |
2,627,879 |
2,326,887 |
12.9 % |
2,773,982 |
-5.3 % |
2,691,645 |
2,587,911 |
4.0 % |
|
MIAX Pearl |
1,438,262 |
2,395,056 |
-39.9 % |
1,391,424 |
3.4 % |
1,978,781 |
2,669,600 |
-25.9 % |
|
MIAX Emerald |
1,673,664 |
1,100,971 |
52.0 % |
1,773,417 |
-5.6 % |
1,684,069 |
1,210,894 |
39.1 % |
|
MIAX Sapphire(1) |
490,249 |
– |
– |
47,805 |
925.5 % |
57,748 |
– |
– |
|
Multi-Listed Options Market Share for MIAX Exchange Group, Current Month |
Year-to-Date Comparison |
|||||||
|
Multi-Listed Options Market |
Sep-24 |
Sep-23 |
% Chg |
Aug-24 |
% Chg |
Sep-24 |
Sep-23 |
% Chg |
|
MIAX Exchange Group |
14.17 % |
15.26 % |
-7.1 % |
13.69 % |
3.6 % |
14.82 % |
16.00 % |
-7.4 % |
|
MIAX Options |
5.98 % |
6.10 % |
-2.0 % |
6.34 % |
-5.7 % |
6.22 % |
6.40 % |
-2.8 % |
|
MIAX Pearl |
3.27 % |
6.28 % |
-47.9 % |
3.18 % |
2.9 % |
4.57 % |
6.60 % |
-30.8 % |
|
MIAX Emerald |
3.81 % |
2.89 % |
32.0 % |
4.05 % |
-6.1 % |
3.89 % |
3.00 % |
29.9 % |
|
MIAX Sapphire(1) |
1.12 % |
– |
– |
0.11 % |
920.6 % |
0.13 % |
– |
– |
|
(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, at which time more than 3,800 classes will be available for trading. |
|
Equities Trading Volume for MIAX Pearl Equities, Current Month |
Year-to-Date Comparison |
|||||||
|
Equities Shares (millions) |
Sep-24 |
Sep-23 |
% Chg |
Aug-24 |
% Chg |
Sep-24 |
Sep-23 |
% Chg |
|
Trading Days |
20 |
20 |
22 |
188 |
187 |
|||
|
U.S. Equities Industry |
237,154 |
206,831 |
14.7 % |
252,333 |
-6.0 % |
2,194,890 |
2,054,761 |
6.8 % |
|
MIAX Pearl Volume |
4,054 |
3,730 |
8.7 % |
4,003 |
1.3 % |
37,874 |
32,376 |
17.0 % |
|
MIAX Pearl ADV |
203 |
187 |
8.7 % |
182 |
11.4 % |
201 |
173 |
16.4 % |
|
MIAX Pearl Market Share |
1.71 % |
1.80 % |
-5.2 % |
1.59 % |
7.8 % |
1.73 % |
1.58 % |
9.5 % |
|
Futures & Options Trading Volume and Open Interest for MIAX |
Year-to-Date Comparison |
|||||||
|
Futures Contracts |
Sep-24 |
Sep-23 |
% Chg |
Aug-24 |
% Chg |
Sep-24 |
Sep-23 |
% Chg |
|
Trading Days |
20 |
20 |
22 |
188 |
187 |
|||
|
MIAX Futures Volume |
185,195 |
192,064 |
-3.6 % |
373,653 |
-50.4 % |
2,411,625 |
2,191,523 |
10.0 % |
|
MIAX Futures ADV |
9,260 |
9,603 |
-3.6 % |
16,984 |
-45.5 % |
12,828 |
11,719 |
9.5 % |
|
MIAX Futures Open Interest |
79,682 |
75,234 |
5.9 % |
81,709 |
-2.5 % |
|||
Source: MIH
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