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Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX®, MIAX PEARL® and MIAX Emerald™ exchanges, today announced that its first equities exchange, MIAX PEARL Equities™, completed its first day of live trading in the symbol NTGR (NETGEAR Inc.). Additional symbols are expected to begin rolling out on October 2, 2020. With its launch, MIAX PEARL Equities joins current options exchanges MIAX Options®, MIAX PEARL and MIAX Emerald as part of the MIAX Exchange Group™.
Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH, said, "We are excited by today's trading results and we are exceedingly grateful to each of our gifted professionals who made this day possible. We are especially gratified by the commitment from our member firms who joined us on our first day of live trading. This caps an incredibly exciting few weeks that included the announced plan of merger with the Minneapolis Grain Exchange and the successful closing of a strategic equity rights transaction for MIAX PEARL Equities."
Commented Douglas M. Schafer, Jr., Executive Vice President Vice President and Chief Information Officer of MIH, "We look forward to our member firms experiencing the performance, reliability, customer service and low cost that MIAX PEARL Equities brings to the equities marketplace."
Added Joseph Bracco, Senior Vice President, Head of Sales at the MIAX Exchange Group, "The success of our first day of live trading is a testament to the hard work and performance of everyone at MIAX PEARL Equities and to the confidence that our member firms have placed in our new trading venue. We look forward to bringing our fair and transparent market model to the U.S. cash equities space."
Earlier this month, MIH announced that it had finalized an equity rights transaction with industry-leading firms to trade on MIAX PEARL Equities. The transaction provides participants with the right to invest in MIH in exchange for the prepayment of certain exchange fees and the achievement of certain liquidity volume thresholds on MIAX PEARL Equities. A total of 22 units were offered in the transaction, which was fully subscribed.
For further information on MIAX PEARL Equities interface and connectivity specifications, please visit: Interface Specifications and Connectivity Specifications.
