Miami International Holdings Reports Trading Results for December and Full-Year 2022; MIAX Exchanges Set Multiple Volume and Market Share Records
PRINCETON, N.J., Jan. 9, 2023 /PRNewswire/ — Miami International Holdings, Inc. today reported December and full-year 2022 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX). December and full-year 2022 market share and volume results include:
MIAX Exchange Group
- Total U.S. multi-list options market share for the MIAX Exchange Group reached 14.52% in December 2022, a 2.1% year-over-year (YoY) increase and representing total volume of 115.8 million contracts and an average daily volume (ADV) of 5.5 million contracts.
- The MIAX Exchange Group reported a total of 1.3 billion multi-list options contracts executed in 2022, a 2.9% decrease YoY and representing an ADV of 5.2 million contracts. Total U.S. multi-listed options market share reached 13.54% in 2022, a 5.2% decline YoY.
- The MIAX Exchange Group set a record for U.S. multi-list options daily market share of 17.05% on December 23, 2022, and a daily record volume of 8.3 million contracts on January 21, 2022.
- MIAX Options® and MIAX Pearl Options both reported annual multi-list option record volume totals in 2022, with volume of 548.8 million contracts and 438.1 million contracts executed on each exchange, respectively.
- MIAX Options and MIAX Pearl Options both reported annual market share records in 2022, accounting for 5.72% and 4.56% of total industry multi-list option volume, respectively.
MIAX Pearl Equities
- MIAX Pearl Equities reported volume of 2.1 billion shares in December 2022, representing a 10.3% increase YoY and a monthly market share of 0.94%.
- Total 2022 volume on MIAX Pearl Equities reached a record 29.5 billion shares, a 167.0% YoY increase. The 2022 total represented a 0.99% market share, a 157.2% increase from 2021.
- MIAX Pearl Equities reported a monthly volume record of 2.78 billion shares in September 2022, representing a monthly market share record of 1.16%.
- MIAX Pearl Equities reported record daily volume of 194.7 million shares on January 24, 2022, and a daily record market share of 1.42% on April 27, 2022.
- MGEX reported trading volume of 163,030 contracts in December 2022, a 24.2% decrease YoY.
- Total 2022 MGEX volume reached 3.3 million contracts, a YoY decrease of 15.0% and representing the second highest annual volume total in MGEX history.
- Trading in Hard Red Spring Wheat (HRSW) Futures totaled 126,876 contracts in December 2022, a 3.5% YoY decrease, while HRSW Options trading totaled 2,914 contracts, a 56.5% YoY decrease.
- SPIKES® Futures volume totaled 33,240 contracts in December 2022, representing a 56.8% YoY decrease and an ADV of 1,583 contracts.
- SPIKES Futures volume totaled a record 785,375 contracts in 2022, a 4.4% YoY increase and representing an ADV of 3,129 contracts in 2022, a 4.8% YoY increase.
Additional MIAX Exchange Group volume details and records are highlighted in the tables included below.
|Multi-Listed Options Trading Volume for
MIAX Exchange Group, Current Month
|Multi-Listed Options Contracts||Dec-22||Dec-21||% Chg||Nov-22||% Chg||Dec-22||Dec-21||% Chg|
|U.S. Equity Options Industry||797,391,491||794,555,696||0.4 %||849,328,703||-6.1 %||9,599,301,629||9,366,823,566||2.5 %|
|MIAX Exchange Group||115,810,693||113,005,405||2.5 %||115,108,818||0.6 %||1,299,336,164||1,338,112,960||-2.9 %|
|MIAX Options||47,561,766||42,812,426||11.1 %||51,219,220||-7.1 %||548,767,478||522,549,941||5.0 %|
|MIAX Pearl||45,731,038||31,633,894||44.6 %||37,617,916||21.6 %||438,116,813||427,001,176||2.6 %|
|MIAX Emerald||22,517,889||38,559,085||-41.6 %||26,271,682||-14.3 %||312,451,873||388,561,843||-19.6 %|
|Multi-Listed Options ADV||Dec-22||Dec-21||% Chg||Nov-22||% Chg||Dec-22||Dec-21||% Chg|
|U.S. Equity Options Industry||37,971,023||36,116,168||5.1 %||40,444,224||-6.1 %||38,244,230||37,169,935||2.9 %|
|MIAX Exchange Group||5,514,795||5,136,609||7.4 %||5,481,372||0.6 %||5,176,638||5,309,972||-2.5 %|
|MIAX Options||2,264,846||1,946,019||16.4 %||2,439,010||-7.1 %||2,186,325||2,073,611||5.4 %|
|MIAX Pearl||2,177,668||1,437,904||51.4 %||1,791,329||21.6 %||1,745,485||1,694,449||3.0 %|
|MIAX Emerald||1,072,280||1,752,686||-38.8 %||1,251,032||-14.3 %||1,244,828||1,541,912||-19.3 %|
|Multi-Listed Options Market Share for
MIAX Exchange Group, Current Month
|Multi-Listed Options Market Share||Dec-22||Dec-21||% Chg||Nov-22||% Chg||Dec-22||Dec-21||% Chg|
|MIAX Exchange Group||14.52 %||14.22 %||2.1 %||13.55 %||7.2 %||13.54 %||14.29 %||-5.2 %|
|MIAX Options||5.96 %||5.39 %||10.7 %||6.03 %||-1.1 %||5.72 %||5.58 %||2.5 %|
|MIAX Pearl||5.74 %||3.98 %||44.0 %||4.43 %||29.5 %||4.56 %||4.56 %||0.1 %|
|MIAX Emerald||2.82 %||4.85 %||-41.8 %||3.09 %||-8.7 %||3.25 %||4.15 %||-21.5 %|
|Equities Trading Volume for
MIAX Pearl Equities, Current Month
|Equities Shares (millions)||Dec-22||Dec-21||% Chg||Nov-22||% Chg||Dec-22||Dec-21||% Chg|
|U.S. Equities Industry||226,636||238,603||-5.0 %||236,072||-4.0 %||2,980,342||2,871,518||3.8 %|
|MIAX Pearl Volume||2,140||1,940||10.3 %||2,403||-10.9 %||29,547||11,066||167.0 %|
|MIAX Pearl ADV||102||88||15.6 %||114||-10.9 %||118||44||168.1 %|
|MIAX Pearl Market Share||0.94 %||0.81 %||16.1 %||1.02 %||-7.2 %||0.99 %||0.39 %||157.2 %|
|Futures & Options Trading Volume for
MGEX, Current Month
|Futures & Options Contracts||Dec-22||Dec-21||% Chg||Nov-22||% Chg||Dec-22||Dec-21||% Chg|
|MGEX Futures Volume||163,030||215,062||-24.2 %||235,460||-30.8 %||3,293,926||3,873,012||-15.0 %|
|MGEX ADV||7,763||9,776||-20.6 %||11,212||-30.8 %||13,123||15,369||-14.6 %|
2022 Market Share and Volume Records:
|MIAX®||MIAX Exchange Group Options Records|
|Single Day||Market Share||17.05 %||December 23, 2022|
|Volume||8,288,503||January 21, 2022|
|MIAX Options Records|
|Single Day||Volume||3,884,167||November 11, 2022|
|Annual||Market Share||5.72 %||2022|
|MIAX Pearl Options Records|
|Annual||Market Share||4.56 %||2022|
|MIAX Pearl Equity Records|
|Single Day||Market Share||1.42 %||April 27, 2022|
|Volume||194,659,923||January 24, 2022|
|Monthly||Market Share||1.16 %||September 2022|
|Annual||Market Share||0.99 %||2022|
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), The Bermuda Stock Exchange (BSX) and Dorman Trading, LLC (Dorman Trading).
MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission (SEC) that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all three exchanges as well as cash equities through MIAX Pearl Equities. 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 also 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).
MGEX 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 and also serves as the exclusive market for SPIKES 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 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 offices located in Miami, FL, Minneapolis, MN, Hamilton, Bermuda and Chicago, IL.
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.
To learn more about Dorman Trading visit 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.
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Andy Nybo, SVP, Chief Communications Officer