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Miami International Holdings, Inc. today reported September 2023 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX™).
September 2023 and Year-to-Date Trading Volume Highlights
- Total multi-listed monthly options volume for the MIAX Exchange Group reached 116.5 million contracts, a 19.6% increase year-over-year (YoY) and representing a monthly market share of 15.26%, a 31.2% increase YoY. Total year-to-date (YTD) volume reached a record 1.2 billion contracts, a 25.8% increase YoY.
- MIAX Options reached a monthly volume of 46.5 million contracts, an 8.4% increase YoY and representing a monthly market share of 6.10%, an 18.9% increase YoY. MIAX Options reached a record YTD volume of 483.9 million contracts, up 19.9% from the same period in 2022.
- MIAX Pearl Options reached a monthly volume of 47.9 million contracts, a 45.7% increase YoY and representing a monthly market share of 6.28%, a 59.8% increase YoY. MIAX Pearl Options reached a record YTD volume of 499.2 million contracts, up 56.5% from the same period in 2022.
- MIAX Emerald reached a monthly volume of 22.0 million contracts, a 2.3% increase YoY and representing a monthly market share of 2.89%, a 12.2% increase YoY.
- In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 3.7 billion shares, a 34.0% increase YoY and representing a monthly market share of 1.80%, a 55.1% increase YoY. MIAX Pearl Equities reached a record YTD volume of 32.4 billion shares, up 44.5% from the same period in 2022.
- In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 192,064 contracts, a 38.1% decrease YoY and a 41.7% decrease from August 2023.
Additional MIAX Exchange Group and MGEX volume information is included in the tables below.
|
Multi-Listed Options Trading Volume for MIAX Exchange Group, Current Month |
Year-to-Date Comparison |
|||||||
|
Multi-Listed Options |
Sep-23 |
Sep-22 |
% Chg |
Aug-23 |
% Chg |
Sep-23 |
Sep-22 |
% Chg |
|
Trading Days |
20 |
21 |
23 |
187 |
188 |
|||
|
U.S. Equity Options Industry |
763,134,859 |
837,127,631 |
-8.8 % |
929,123,718 |
-17.9 % |
7,560,157,102 |
7,122,932,919 |
6.1 % |
|
MIAX Exchange Group |
116,458,284 |
97,335,822 |
19.6 % |
137,982,535 |
-15.6 % |
1,209,591,615 |
961,153,836 |
25.8 % |
|
MIAX Options |
46,537,747 |
42,928,688 |
8.4 % |
55,161,173 |
-15.6 % |
483,939,342 |
403,545,842 |
19.9 % |
|
MIAX Pearl |
47,901,118 |
32,881,438 |
45.7 % |
58,153,595 |
-17.6 % |
499,215,133 |
318,918,226 |
56.5 % |
|
MIAX Emerald |
22,019,419 |
21,525,696 |
2.3 % |
24,667,767 |
-10.7 % |
226,437,140 |
238,689,768 |
-5.1 % |
|
Multi-Listed Options ADV |
Sep-23 |
Sep-22 |
% Chg |
Aug-23 |
% Chg |
Sep-23 |
Sep-22 |
% Chg |
|
U.S. Equity Options Industry |
38,156,743 |
39,863,221 |
-4.3 % |
40,396,683 |
-5.5 % |
40,428,648 |
37,887,941 |
6.7 % |
|
MIAX Exchange Group |
5,822,914 |
4,635,039 |
25.6 % |
5,999,241 |
-2.9 % |
6,468,404 |
5,112,520 |
26.5 % |
|
MIAX Options |
2,326,887 |
2,044,223 |
13.8 % |
2,398,312 |
-3.0 % |
2,587,911 |
2,146,520 |
20.6 % |
|
MIAX Pearl |
2,395,056 |
1,565,783 |
53.0 % |
2,528,417 |
-5.3 % |
2,669,600 |
1,696,374 |
57.4 % |
|
MIAX Emerald |
1,100,971 |
1,025,033 |
7.4 % |
1,072,512 |
2.7 % |
1,210,894 |
1,269,626 |
-4.6 % |
|
Multi-Listed Options Market Share for MIAX Exchange Group, Current Month |
Year-to-Date Comparison |
|||||||
|
Multi-Listed Options Market |
Sep-23 |
Sep-22 |
% Chg |
Aug-23 |
% Chg |
Sep-23 |
Sep-22 |
% Chg |
|
MIAX Exchange Group |
15.26 % |
11.63 % |
31.2 % |
14.85 % |
2.8 % |
16.00 % |
13.49 % |
18.6 % |
|
MIAX Options |
6.10 % |
5.13 % |
18.9 % |
5.94 % |
2.7 % |
6.40 % |
5.67 % |
13.0 % |
|
MIAX Pearl |
6.28 % |
3.93 % |
59.8 % |
6.26 % |
0.3 % |
6.60 % |
4.48 % |
47.5 % |
|
MIAX Emerald |
2.89 % |
2.57 % |
12.2 % |
2.65 % |
8.7 % |
3.00 % |
3.35 % |
-10.6 % |
|
Equities Trading Volume for MIAX Pearl Equities, Current Month |
Year-to-Date Comparison |
|||||||
|
Equities Shares (millions) |
Sep-23 |
Sep-22 |
% Chg |
Aug-23 |
% Chg |
Sep-23 |
Sep-22 |
% Chg |
|
Trading Days |
20 |
21 |
23 |
187 |
188 |
|||
|
U.S. Equities Industry |
206,831 |
239,417 |
-13.6 % |
242,103 |
-14.6 % |
2,054,761 |
2,276,370 |
-9.7 % |
|
MIAX Pearl Volume |
3,730 |
2,784 |
34.0 % |
4,216 |
-11.5 % |
32,376 |
22,408 |
44.5 % |
|
MIAX Pearl ADV |
187 |
133 |
40.7 % |
183 |
1.7 % |
173 |
119 |
45.3 % |
|
MIAX Pearl Market Share |
1.80 % |
1.16 % |
55.1 % |
1.74 % |
3.6 % |
1.58 % |
0.98 % |
60.1 % |
|
Futures & Options Trading Volume and Open |
Year-to-Date Comparison |
|||||||
|
Futures Contracts |
Sep-23 |
Sep-22 |
% Chg |
Aug-23 |
% Chg |
Sep-23 |
Sep-22 |
% Chg |
|
Trading Days |
20 |
21 |
23 |
187 |
188 |
|||
|
MGEX Total |
192,064 |
310,233 |
-38.1 % |
329,483 |
-41.7 % |
2,191,523 |
2,710,629 |
-19.2 % |
|
Hard Red Spring Wheat – Futures |
171,059 |
170,404 |
0.4 % |
294,964 |
-42.0 % |
1,910,305 |
1,979,268 |
-3.5 % |
|
Hard Red Spring Wheat – Options |
2,839 |
4,897 |
-42.0 % |
7,832 |
-63.8 % |
62,128 |
58,012 |
7.1 % |
|
SPIKES Volatility Index – Futures |
18,166 |
134,932 |
-86.5 % |
26,687 |
-31.9 % |
219,090 |
673,349 |
-67.5 % |
|
Average Daily Volume |
Sep-23 |
Sep-22 |
% Chg |
Aug-23 |
% Chg |
Sep-23 |
Sep-22 |
% Chg |
|
MGEX Total |
9,603 |
14,773 |
-35.0 % |
14,325 |
-33.0 % |
11,719 |
14,418 |
-18.7 % |
|
Hard Red Spring Wheat – Futures |
8,553 |
8,114 |
5.4 % |
12,825 |
-33.3 % |
10,216 |
10,528 |
-3.0 % |
|
Hard Red Spring Wheat – Options |
142 |
233 |
-39.1 % |
341 |
-58.4 % |
332 |
309 |
7.7 % |
|
SPIKES Volatility Index – Futures |
908 |
6,425 |
-85.9 % |
1,160 |
-21.7 % |
1,172 |
3,582 |
-67.3 % |
|
Open Interest |
Sep-23 |
Sep-22 |
% Chg |
Aug-23 |
% Chg |
|||
|
MGEX Total |
75,234 |
64,464 |
16.7 % |
63,217 |
19.0 % |
|||
|
Hard Red Spring Wheat – Futures |
67,764 |
56,391 |
20.2 % |
56,940 |
19.0 % |
|||
|
Hard Red Spring Wheat – Options |
6,725 |
7,558 |
-11.0 % |
5,242 |
28.3 % |
|||
|
SPIKES Volatility Index – Futures |
745 |
515 |
44.7 % |
1,035 |
-28.0 % |
|||
