MIAX Options Exchange (“MIAX”), the newest U.S. equity options exchange, announced today that it will waive transaction fees until the end of the year, other than select transaction and regulatory fees applicable to members trading options on and using services provided by MIAX. MIAX also confirmed that it will launch trading operations on December 7, 2012, as previously announced.
Thomas P. Gallagher, MIAX’s Chairman and Chief Executive Officer said, “Tomorrow marks a tremendous milestone for MIAX with the launch of our MIAX Options Exchange. We are proud to be the newest member of the U.S. equity options industry and we look forward to a successful launch.”
Gallagher further stated, “On behalf of our shareholders and the Boards of Directors of both MIAX and Miami International Holdings, Inc., our parent company, I would like to express my sincerest thanks to Doug Schafer, Executive Vice President and Chief Information Officer at MIAX, and his highly skilled and experienced IT team for their unwavering commitment. Doug and his team are extremely well-versed in the unique functional and performance demands of the options industry and have designed and implemented a trading platform that features ultra-low latency, proper protections and exceptional throughput, and which can be operated on a very costefficient basis.”
Shelly Brown, Senior V.P. Strategic Planning and Operations, who spearheaded the MIAX Exchange strategy, stated, “The response from the options industry has been very enthusiastic, and we are pleased to have more than 27 market makers and order flow providers already approved for options trading with additional firms close to completing the membership process.”
MIAX is a fully electronic options trading exchange. Its trading platform has been developed inhouse and designed from the ground up for the unique functional and performance demands of derivatives trading. The MIAX executive offices and technology development center are located in Princeton, New Jersey. The National Operations Center for the MIAX Options Exchange is alsohoused at the Princeton facility. Additional executive offices, as well as a multi-purpose training, meeting and conference center will be located in a state-of-the-art facility in Miami, Florida.
For detailed information regarding fees on the MIAX Options Exchange, please visit www.miaxoptions.com/content/fees.
For further information regarding the MIAX Options Exchange, including fee schedule, news andrecent developments, member onboarding, and technology onboarding, including specifications and requirements, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.
