Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes and geographies, today reported March 2024 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX™).
March 2024 and Year-to-Date Trading Volume and Market Share Highlights
- Total multi-listed options volume for the MIAX Exchange Group reached a monthly total of 137.0 million contracts, a 15.1% decrease year-over-year (YoY) and representing a decrease of 5.7% from February 2024. March 2024 market share reached 15.9%, a 5.0% decrease YoY. Total year-to-date (YTD) volume reached 422.7 million contracts, a 2.6% decrease from the same period in 2023.
- MIAX Options reached a monthly volume of 55.1 million contracts, a 13.9% decrease YoY and a 5.5% decrease from February 2024. Total YTD volume reached 170.3 million contracts, a 2.0% decrease from the same period in 2023.
- MIAX Pearl Options reached a monthly volume of 48.3 million contracts, a 27.0% decrease YoY, and a 9.4% decrease from February 2024. Total YTD volume reached 153.5 million contracts, a 13.9% decrease from the same period in 2023.
- MIAX Emerald Options reached a monthly volume of 33.6 million contracts, a 7.6% increase YoY and a 0.2% decrease from February 2024. March 2024 market share reached 3.9%, a 20.3% increase YoY. Total YTD volume reached 98.9 million contracts, a 20.8% increase from the same period in 2023.
- In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 4.5 billion shares, a 1.1% increase YoY and representing a market share of 1.87%, a 20.8% increase YoY. Total YTD volume reached a record 13.2 billion shares, a 39.6% increase from the same period in 2023. YTD market share reached a record 1.83%, an increase of 42.1% from the same period in 2023.
- In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 171,307 contracts, a 29.4% decrease YoY and representing a 48.1% decrease from February 2024.
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 |
Mar-24 |
Mar-23 |
% Chg |
Feb-24 |
% Chg |
Mar-24 |
Mar-23 |
% Chg |
|
|
Trading Days |
20 |
23 |
20 |
61 |
62 |
||||
|
U.S. Equity Options Industry |
861,219,614 |
963,375,498 |
-10.6 % |
888,779,369 |
-3.1 % |
2,641,960,518 |
2,630,831,722 |
0.4 % |
|
|
MIAX Exchange Group |
136,950,995 |
161,313,643 |
-15.1 % |
145,254,160 |
-5.7 % |
422,730,969 |
433,956,534 |
-2.6 % |
|
|
MIAX Options |
55,108,636 |
63,968,591 |
-13.9 % |
58,313,579 |
-5.5 % |
170,277,384 |
173,801,092 |
-2.0 % |
|
|
MIAX Pearl |
48,290,830 |
66,151,794 |
-27.0 % |
53,312,809 |
-9.4 % |
153,535,300 |
178,258,282 |
-13.9 % |
|
|
MIAX Emerald |
33,551,529 |
31,193,258 |
7.6 % |
33,627,772 |
-0.2 % |
98,918,285 |
81,897,160 |
20.8 % |
|
|
Multi-Listed Options ADV |
Mar-24 |
Mar-23 |
% Chg |
Feb-24 |
% Chg |
Mar-24 |
Mar-23 |
% Chg |
|
|
U.S. Equity Options Industry |
43,060,981 |
41,885,891 |
2.8 % |
44,438,968 |
-3.1 % |
43,310,828 |
42,432,770 |
2.1 % |
|
|
MIAX Exchange Group |
6,847,550 |
7,013,637 |
-2.4 % |
7,262,708 |
-5.7 % |
6,930,016 |
6,999,299 |
-1.0 % |
|
|
MIAX Options |
2,755,432 |
2,781,243 |
-0.9 % |
2,915,679 |
-5.5 % |
2,791,433 |
2,803,243 |
-0.4 % |
|
|
MIAX Pearl |
2,414,542 |
2,876,165 |
-16.0 % |
2,665,640 |
-9.4 % |
2,516,972 |
2,875,134 |
-12.5 % |
|
|
MIAX Emerald |
1,677,576 |
1,356,229 |
23.7 % |
1,681,389 |
-0.2 % |
1,621,611 |
1,320,922 |
22.8 % |
|
|
Multi-Listed Options Market Share for MIAX Exchange Group, Current Month |
Year-to-Date Comparison |
||||||||
|
Multi-Listed Options Market |
Mar-24 |
Mar-23 |
% Chg |
Feb-24 |
% Chg |
Mar-24 |
Mar-23 |
% Chg |
|
|
MIAX Exchange Group |
15.90 % |
16.74 % |
-5.0 % |
16.34 % |
-2.7 % |
16.00 % |
16.50 % |
-3.0 % |
|
|
MIAX Options |
6.40 % |
6.64 % |
-3.6 % |
6.56 % |
-2.5 % |
6.45 % |
6.61 % |
-2.4 % |
|
|
MIAX Pearl |
5.61 % |
6.87 % |
-18.3 % |
6.00 % |
-6.5 % |
5.81 % |
6.78 % |
-14.2 % |
|
|
MIAX Emerald |
3.90 % |
3.24 % |
20.3 % |
3.78 % |
3.0 % |
3.74 % |
3.11 % |
20.3 % |
|
|
Equities Trading Volume for MIAX Pearl Equities, Current Month |
Year-to-Date Comparison |
|||||||
|
Equities Shares (millions) |
Mar-24 |
Mar-23 |
% Chg |
Feb-24 |
% Chg |
Mar-24 |
Mar-23 |
% Chg |
|
Trading Days |
20 |
23 |
20 |
61 |
62 |
|||
|
U.S. Equities Industry |
240,460 |
287,366 |
-16.3 % |
234,704 |
2.5 % |
717,786 |
730,610 |
-1.8 % |
|
MIAX Pearl Volume |
4,485 |
4,438 |
1.1 % |
4,062 |
10.4 % |
13,152 |
9,424 |
39.6 % |
|
MIAX Pearl ADV |
224 |
193 |
16.2 % |
203 |
10.4 % |
216 |
152 |
41.8 % |
|
MIAX Pearl Market Share |
1.87 % |
1.54 % |
20.8 % |
1.73 % |
7.8 % |
1.83 % |
1.29 % |
42.1 % |
|
Futures & Options Trading Volume and Open Interest for MGEX, |
Year-to-Date Comparison |
|||||||
|
Futures Contracts |
Mar-24 |
Mar-23 |
% Chg |
Feb-24 |
% Chg |
Mar-24 |
Mar-23 |
% Chg |
|
Trading Days |
20 |
23 |
20 |
61 |
62 |
|||
|
MGEX Total |
171,307 |
242,712 |
-29.4 % |
329,921 |
-48.1 % |
721,254 |
661,586 |
9.0 % |
|
MGEX Average Daily Volume |
8,565 |
10,553 |
-18.8 % |
16,496 |
-48.1 % |
11,824 |
10,671 |
10.8 % |
|
MGEX Open Interest |
75,737 |
73,365 |
2.9 % |
71,095 |
6.5 % |
|||
