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MIAX Emerald™, the newest U.S. equity options exchange, successfully launched trading operations on March 1st with the rollout of options on its first symbol, IBM. MIAX Emerald will continue listing options on IBM for its first week of trading and begin rolling out additional symbols thereafter. With its launch, MIAX Emerald joins current options exchanges MIAX Options® and MIAX PEARL™ as part of the MIAX Exchange Group™. All three exchanges are subsidiaries of Miami International Holdings, Inc.
"We are thrilled to welcome MIAX Emerald to the MIAX Exchange Group, the third exchange we have successfully launched since 2012," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. "Over the last few weeks our company has reached some significant milestones starting with the launch of SPIKES™ Index options volatility trading on MIAX Options in February and now MIAX Emerald. I would like to commend the MIAX team for its efforts as we continue to grow and scale our businesses to address the changing needs of our member firms and bring efficiencies to the entire trading community."
Continued Douglas M. Schafer, Jr., Executive Vice President and Chief Information Officer of MIAX, "All systems performed as expected on MIAX Emerald's first day of trading, and we look forward to rolling out additional symbols in the coming weeks. As additional symbols are made available, we expect our member firms to truly experience the lower latency and increased determinism that MIAX Emerald was designed to provide firms trading in this particular sector."
"With the launch of MIAX Emerald, the MIAX Exchange Group now has access to approximately 80% of the overall U.S. options market volume, representing a combined average daily volume of approximately 20 million contracts," said Joseph S. Bracco, Senior Vice President, Head of Sales for MIAX. "Additionally, the MIAX Exchange Group now offers three different pricing and allocation models, giving member firms a choice, regardless of their current or future preferred trading strategy."
Added Barbara J. Comly, Executive Vice President and General Counsel of MIAX, "The SEC was very helpful throughout the entire MIAX Emerald launch process. We would like to thank all of the SEC Commissioners and Commission Staff for their assistance and enabling us to launch trading operations on March 1st."
For further information regarding MIAX Emerald or the MIAX Exchange Group, please visit www.MIAXOptions.com or contact Sales at Sales@MIAXOptions.com or MIAX Trading Operations at TradingOperations@MIAXOptions.com.
