Miami International Holdings, Inc. (NYSE: MIAX) (MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today reported August 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™.
August 2025 and Year-to-Date Highlights
- MIAX Exchange Group set a record average daily volume (ADV) of 9.5 million option contracts in August 2025, a 59.1% increase from August 2024.
- MIAX Exchange Group set a daily volume record of 14.2 million contracts executed on August 22, 2025.
- MIAX Exchange Group set a year-to-date (YTD) ADV record of 8.8 million contracts through August 2025.
- MIAX Exchange Group set a record YTD market share of 16.5% of multi-list volume through August 2025.
- MIAX Futures reached a record YTD ADV of 15,728 contracts, an 18.7% 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.
|
Average Daily Trading Volume (ADV) (1) |
Year-to-Date Comparison |
|||||||
|
Aug-25 |
Aug-24 |
% Chg |
Jul-25 |
% Chg |
Aug-25 |
Aug-24 |
% Chg |
|
|
U.S. Multi-list Options |
||||||||
|
Trading Days |
21 |
22 |
22 |
165 |
168 |
|||
|
U.S. Equity Options Industry ADV (000's) |
54,909 |
43,745 |
25.5 % |
51,516 |
6.6 % |
53,059 |
43,199 |
22.8 % |
|
MIAX Exchange Group Options ADV (000's) |
9,525 |
5,987 |
59.1 % |
8,607 |
10.7 % |
8,775 |
6,434 |
36.4 % |
|
MIAX Exchange Group Options Market Share |
17.3 % |
13.7 % |
26.8 % |
16.7 % |
3.8 % |
16.5 % |
14.9 % |
11.0 % |
|
U.S. Equities |
||||||||
|
U.S. Equities Industry ADV (Millions) |
16,379 |
11,470 |
42.8 % |
17,648 |
-7.2 % |
17,053 |
11,653 |
46.3 % |
|
MIAX Pearl ADV (Millions) |
169 |
182 |
-7.0 % |
191 |
-11.6 % |
184 |
201 |
-8.4 % |
|
MIAX Pearl Market Share |
1.0 % |
1.6 % |
-34.9 % |
1.1 % |
-4.8 % |
1.1 % |
1.7 % |
-37.4 % |
|
MIAX Futures Exchange |
||||||||
|
Trading Days |
21 |
22 |
22 |
166 |
168 |
|||
|
MIAX Futures ADV |
11,190 |
16,984 |
-34.1 % |
6,954 |
60.9 % |
15,728 |
13,253 |
18.7 % |
|
1) Calculated as total volume for the period divided by total trading days for the period. |
