Miami International Holdings, Inc. (MIAX) (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today reported October 2025 trading results for its U.S. exchange subsidiaries — MIAX®, MIAX Pearl®, MIAX Emerald® and MIAX Sapphire® (collectively, the MIAX Exchange Group), and MIAX Futures™.
October 2025 and Year-to-Date Highlights
- MIAX Exchange Group set a number of volume and market share records in October 2025 including:
- Daily market share record of 20.9% on October 14, 2025
- Daily volume record of 19.7 million contracts on October 10, 2025
- Monthly market share record of 19.4% in October 2025
- Monthly average daily volume (ADV) record of 13.1 million contracts, a 92.4% increase from October 2024
- Year-to-date (YTD) ADV record of 9.4 million contracts, a 46.4% increase from the same period in 2024
- MIAX Futures reached a record YTD ADV of 13,828 contracts through October 2025, a 10.1% increase from the same period in 2024.
Additional MIAX Exchange Group and MIAX Futures trading volume and market share information is included in the table below. Summary statistics including trading volume and market share by business segment, as well as rolling three-month average revenue per contract and capture rates are now available on the MIAX website at https://ir.miaxglobal.com/volume-rpc-reports.
|
Average Daily Trading Volume (ADV) (1) |
Year-to-Date Comparison |
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|
Oct-25 |
Oct-24 |
% Chg |
Sep-25 |
% Chg |
Oct-25 |
Oct-24 |
% Chg |
|
|
U.S. Multi-list Options |
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|
Trading Days |
23 |
23 |
21 |
209 |
211 |
|||
|
U.S. Equity Options Industry ADV (000's) |
67,193 |
44,322 |
51.6 % |
61,299 |
9.6 % |
55,442 |
43,393 |
27.8 % |
|
MIAX Exchange Group Options ADV (000's) |
13,057 |
6,787 |
92.4 % |
10,787 |
21.0 % |
9,448 |
6,453 |
46.4 % |
|
MIAX Exchange Group Options Market Share |
19.4 % |
15.3 % |
26.9 % |
17.6 % |
10.4 % |
17.0 % |
14.9 % |
14.6 % |
|
U.S. Equities |
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|
U.S. Equities Industry ADV (Millions) |
20,996 |
11,665 |
80.0 % |
18,309 |
14.7 % |
17,613 |
11,674 |
50.9 % |
|
MIAX Pearl ADV (Millions) |
218 |
191 |
14.0 % |
205 |
6.6 % |
190 |
200 |
-5.1 % |
|
MIAX Pearl Market Share |
1.0 % |
1.6 % |
-36.6 % |
1.1 % |
-7.1 % |
1.1 % |
1.7 % |
-37.1 % |
|
MIAX Futures Exchange |
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|
Trading Days |
23 |
23 |
21 |
210 |
211 |
|||
|
MIAX Futures ADV |
7,286 |
10,315 |
-29.4 % |
5,973 |
22.0 % |
13,828 |
12,554 |
10.1 % |
|
1) Calculated as total volume for the period divided by total trading days for the period. |
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