PRINCETON, N.J., Nov. 23, 2020 /PRNewswire/ — Miami International Holdings, Inc. (MIH), the parent holding company of MIAX®, MIAX PEARL® and MIAX Emerald® securities exchanges (collectively, the MIAX Exchange Group™), today announced that MIAX PEARL Equities™ completed its rollout of all NMS symbols on November 20, 2020. MIAX PEARL Equities launched live trading on September 29, 2020, with the symbol NTGR, and took a phased approach to adding additional symbols since that time.
Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH, said, “We are extremely pleased with the progress that MIAX PEARL Equities has made since launch and excited to see increasing participation from a diverse group of member firms. We took a disciplined, phased approach to our rollout to ensure that member firm readiness and system reliability were aligned, and now look forward to working closely with our member firms to build out the next round of functionality.” Continued Gallagher, “I could not be more proud of our team members for the level of focus and commitment that they showed towards launching our first cash equities exchange, all while having to navigate a remote work environment over the past eight months.”
Douglas M. Schafer, Jr., Executive Vice President and Chief Information Officer of MIH, added, “The MIAX PEARL Equities system has performed very well thus far, and we are eager to see its capabilities with all NMS symbols now listed. We anticipate that the completion of the symbol rollout combined with the aggressive pricing model announced earlier this month will help drive activity on the exchange.”
The MIAX PEARL Equities fee schedule offers a rebate of 32 cents per 100 shares for added displayed liquidity. Members pay 28 cents per 100 shares to remove liquidity.
For further information regarding MIAX PEARL Equities and the MIAX Exchange Group, please visit www.MIAXOptions.com or contact MIAX Trading Operations at [email protected]
|Corporate Communications Contact:||Natalie Kay, Karma Agency|
About MIH and the MIAX Exchange Group
Miami International Holdings, Inc. (MIH) is the parent holding company of Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX PEARL®) and MIAX Emerald, LLC (MIAX Emerald® and together with MIAX and MIAX PEARL, the MIAX Exchange Group™), three national securities exchanges. MIH also owns a controlling interest in the Bermuda Stock Exchange.
MIAX, MIAX PEARL and MIAX Emerald options exchanges leverage the MIAX Exchange Group’s industry-leading technology and infrastructure to provide their member firms with traditional pricing and pro rata allocation (MIAX), maker-taker pricing and price-time allocation (MIAX PEARL) market structures, and a hybrid market structure with maker-taker pricing and pro rata allocation (MIAX Emerald).
MIAX Options® 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).
Under MIAX PEARL’s exchange license, MIAX PEARL Equities™ provides its members with best-in-class performance through a combination of high determinism, low latency and high throughput. MIAX PEARL Equities has maker-taker pricing and a price-time allocation model.
The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL.
To learn more about MIH and the MIAX Exchange Group visit www.MIAXOptions.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.
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