==Miami International (MIAX) began trading on the NYSE on Thur 14 Aug 25

 

Opened at $31.65 after pricing 15.0 mln share IPO at 23.00 per share, above the $19-21 expected range

Miami International Holdings keeps red-hot IPO market rolling along as another FinTech deal draws robust demand; Operator of technology-driven financial marketplaces experiencing strong growth in U.S. options business 

• MIAX operates a network of technology-driven financial marketplaces, including four U.S. options exchanges, a cash equities exchange, a futures exchange, and the Bermuda Stock Exchange, offering multi-asset trading solutions with a focus on low-latency and high reliability.
• Strong investor interest was driven by MIAX's 16.7% U.S. options market share, its scalable fintech model, and a favorable IPO market, with recent successes like Circle and Chime signaling a revival in fintech listings.
• For the six months ended June 30, 2025, revenue grew by 21% yr/yr to $564.9 mln. The growth was primarily due to a $114.2 mln increase in Options transaction and clearing fees primarily as a result of a 22.2% increase in Options market contracts, a 30.5% increase in MIH Options contracts, and a 1.4% increase in transaction and clearing fees revenue per contract. For this same period, operating income improved dramatically to nearly $50 mln from $(8.8) mln in the year earlier period.

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®), MIAX Sapphire LLC (MIAX Sapphire™), MIAX Futures Exchange, LLC (MIAX Futures™), MIAX Derivatives Exchange (MIAXdx™), Dorman Trading, LLC (Dorman Trading), The Bermuda Stock Exchange (BSX) and The International Stock Exchange (TISE).

MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX's in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. 

MIAX Futures is a registered exchange with the Commodity Futures Trading Commission (CFTC) and enabled by MIAX's in-house built, proprietary technology. MIAX Futures offers trading in a variety of products including Minneapolis Hard Red Spring Wheat Futures.