Miami International Holdings, Inc. (MIH) today reported December 2023 and full-year 2023 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 2023 and Full-year 2023 Trading Volume and Market Share Highlights
- Total multi-listed monthly options volume for the MIAX Exchange Group reached a record 1.6 billion contracts in 2023, a 22.1% increase year-over-year (YoY) and representing a record annual market share of 15.73%, a 16.2% increase YoY. December volume totaled 128.3 million contracts, a 10.8% increase YoY and representing a monthly market share of 15.43%, a 6.2% increase YoY.
- MIAX Options reached a record volume of 634.0 million contracts in 2023, a 15.5% increase YoY and representing an annual market share of 6.28%, a 9.9% increase YoY. December volume reached 51.4 million contracts, an 8.1% increase YoY and representing a monthly market share of 6.18%, a 3.6% increase YoY.
- MIAX Pearl Options reached a record volume of 647.1 million contracts in 2023, a 47.7% increase YoY and representing a record market share of 6.41%, a 40.5% increase YoY. December volume totaled 46.4 million contracts, a 1.4% increase YoY and representing a market share of 5.58%.
- MIAX Emerald Options reached volume of 30.5 million contracts in December, a 35.5% increase YoY and representing a market share of 3.67%, a 30.0% increase YoY.
- In U.S. equities, MIAX Pearl Equities™ reached a record volume of 46.9 billion shares in 2023, a 58.9% increase YoY and representing a record market share of 1.70%, a 71.6% increase YoY. December volume totaled 4.4 billion shares, a 105.0% increase YoY and representing a market share of 1.77%, an 87.5% increase YoY.
- In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a volume of 2.9 million contracts in 2023, a 12.1% decrease YoY.
Additional MIAX Exchange Group and MGEX 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 |
Dec-23 |
Dec-22 |
% Chg |
Nov-23 |
% Chg |
Dec-23 |
Dec-22 |
% Chg |
|
|
Trading Days |
20 |
21 |
21 |
250 |
251 |
||||
|
U.S. Equity Options Industry |
831,449,638 |
797,391,491 |
4.3 % |
819,353,114 |
1.5 % |
10,092,147,417 |
9,599,301,629 |
5.1 % |
|
|
MIAX Exchange Group |
128,287,450 |
115,810,693 |
10.8 % |
120,847,771 |
6.2 % |
1,587,012,460 |
1,299,336,164 |
22.1 % |
|
|
MIAX Options |
51,400,676 |
47,561,766 |
8.1 % |
48,435,412 |
6.1 % |
634,026,200 |
548,767,478 |
15.5 % |
|
|
MIAX Pearl |
46,372,764 |
45,731,038 |
1.4 % |
48,184,598 |
-3.8 % |
647,128,959 |
438,116,813 |
47.7 % |
|
|
MIAX Emerald |
30,514,010 |
22,517,889 |
35.5 % |
24,227,761 |
25.9 % |
305,857,301 |
312,451,873 |
-2.1 % |
|
|
Multi-Listed Options ADV |
Dec-23 |
Dec-22 |
% Chg |
Nov-23 |
% Chg |
Dec-23 |
Dec-22 |
% Chg |
|
|
U.S. Equity Options Industry |
41,572,482 |
37,971,023 |
9.5 % |
39,016,815 |
6.6 % |
40,368,590 |
38,244,230 |
5.6 % |
|
|
MIAX Exchange Group |
6,414,373 |
5,514,795 |
16.3 % |
5,754,656 |
11.5 % |
6,348,050 |
5,176,638 |
22.6 % |
|
|
MIAX Options |
2,570,034 |
2,264,846 |
13.5 % |
2,306,448 |
11.4 % |
2,536,105 |
2,186,325 |
16.0 % |
|
|
MIAX Pearl |
2,318,638 |
2,177,668 |
6.5 % |
2,294,505 |
1.1 % |
2,588,516 |
1,745,485 |
48.3 % |
|
|
MIAX Emerald |
1,525,701 |
1,072,280 |
42.3 % |
1,153,703 |
32.2 % |
1,223,429 |
1,244,828 |
-1.7 % |
|
|
Multi-Listed Options Market Share for MIAX Exchange Group, Current Month |
Year-to-Date Comparison |
||||||||
|
Multi-Listed Options Market |
Dec-23 |
Dec-22 |
% Chg |
Nov-23 |
% Chg |
Dec-23 |
Dec-22 |
% Chg |
|
|
MIAX Exchange Group |
15.43 % |
14.52 % |
6.2 % |
14.75 % |
4.6 % |
15.73 % |
13.54 % |
16.2 % |
|
|
MIAX Options |
6.18 % |
5.96 % |
3.6 % |
5.91 % |
4.6 % |
6.28 % |
5.72 % |
9.9 % |
|
|
MIAX Pearl |
5.58 % |
5.74 % |
-2.8 % |
5.88 % |
-5.2 % |
6.41 % |
4.56 % |
40.5 % |
|
|
MIAX Emerald |
3.67 % |
2.82 % |
30.0 % |
2.96 % |
24.1 % |
3.03 % |
3.25 % |
-6.9 % |
|
|
Equities Trading Volume for MIAX Pearl Equities, Current Month |
Year-to-Date Comparison |
|||||||
|
Equities Shares (millions) |
Dec-23 |
Dec-22 |
% Chg |
Nov-23 |
% Chg |
Dec-23 |
Dec-22 |
% Chg |
|
Trading Days |
20 |
21 |
21 |
250 |
251 |
|||
|
U.S. Equities Industry |
247,729 |
226,636 |
9.3 % |
221,781 |
11.7 % |
2,758,344 |
2,980,342 |
-7.4 % |
|
MIAX Pearl Volume |
4,387 |
2,140 |
105.0 % |
4,609 |
-4.8 % |
46,935 |
29,547 |
58.9 % |
|
MIAX Pearl ADV |
219 |
102 |
115.2 % |
219 |
-0.1 % |
188 |
118 |
59.5 % |
|
MIAX Pearl Market Share |
1.77 % |
0.94 % |
87.5 % |
2.08 % |
-14.8 % |
1.70 % |
0.99 % |
71.6 % |
|
Futures & Options Trading Volume and Open |
Year-to-Date Comparison |
|||||||
|
Futures Contracts |
Dec-23 |
Dec-22 |
% Chg |
Nov-23 |
% Chg |
Dec-23 |
Dec-22 |
% Chg |
|
Trading Days |
20 |
21 |
21 |
250 |
251 |
|||
|
MGEX Total |
136,652 |
163,030 |
-16.2 % |
328,252 |
-58.4 % |
2,894,831 |
3,293,926 |
-12.1 % |
|
Hard Red Spring Wheat – |
132,682 |
126,876 |
61.8 % |
319,559 |
-58.5 % |
2,584,138 |
2,440,456 |
5.9 % |
|
Hard Red Spring Wheat – |
3,565 |
2,914 |
45.5 % |
5,704 |
-37.5 % |
74,957 |
68,095 |
10.1 % |
|
SPIKES Volatility Index – |
405 |
33,240 |
-91.3 % |
2,989 |
-86.5 % |
235,736 |
785,375 |
-70.0 % |
|
Average Daily Volume |
Dec-23 |
Dec-22 |
% Chg |
Nov-23 |
% Chg |
Dec-23 |
Dec-22 |
% Chg |
|
MGEX Total |
6,833 |
7,763 |
-12.0 % |
15,631 |
-56.3 % |
11,579 |
13,123 |
-11.8 % |
|
Hard Red Spring Wheat – |
6,634 |
6,042 |
9.8 % |
15,217 |
-56.4 % |
10,337 |
9,723 |
6.3 % |
|
Hard Red Spring Wheat – |
178 |
139 |
28.1 % |
272 |
-34.6 % |
300 |
271 |
10.5 % |
|
SPIKES Volatility Index – |
20 |
1,583 |
-98.7 % |
142 |
-85.9 % |
943 |
3,129 |
-69.9 % |
|
Open Interest |
Dec-23 |
Dec-22 |
% Chg |
Nov-23 |
% Chg |
|||
|
MGEX Total |
63,238 |
60,089 |
5.2 % |
68,716 |
-8.0 % |
|||
|
Hard Red Spring Wheat – |
56,582 |
54,401 |
4.0 % |
62,620 |
-9.6 % |
|||
|
Hard Red Spring Wheat – |
6,656 |
5,325 |
25.0 % |
5,988 |
11.2 % |
|||
|
SPIKES Volatility Index – |
0 |
363 |
-100.0 % |
108 |
-100.0 % |
|||
