MIAX Options Exchange (“MIAX”) announced today that on December 3, 2012, it received an Approval Order from the United States Securities and Exchange Commission (“SEC”) of its Application for Registration as a National Securities Exchange, and thus MIAX will act as its own self-regulatory organization. [Release No. 34-68341; File No.10-207.] Trading on MIAX, a fully electronic options trading exchange, is scheduled to commence on December 7, 2012.
Thomas P. Gallagher, MIAX’s Chairman and Chief Executive Officer said, “The approval of the MIAX Options Exchange is a significant milestone for MIAX and our parent company Miami International Holdings, Inc. (“MIH”), and we are excited to enter into the U.S. options space and commence trading. We would like to thank Chairman Shapiro and the other SEC Commissioners, as well as the entire SEC staff, for their dedicated work throughout the application process. We would also like to thank our colleagues and prospective members in the options industry for their cooperation throughout the application process, all of our supportive investors and dedicated employees, the Boards of Directors of both MIH and MIAX, and our global partners including Dell, Inc. who remain committed to the success of MIAX and building a long-term relationship with us.”
The MIAX Options Exchange trading platform has been developed in-house and designed from the ground up for the unique functional and performance demands of derivatives trading. “After extensive mock trading sessions, we are very pleased with the features and performance capabilities of our new platform, as are our prospective exchange members,” said Doug Schafer, Executive Vice President and Chief Information Officer at MIAX. Schafer continued, “In order to be successful, the trading community needs a trading platform with ultra-low latency, proper protections and exceptional throughput, which we are confident the MIAX Options Exchange trading platform will be able to provide to our users.”
The MIAX executive offices and technology development center are located in Princeton, New Jersey. The National Operations Center for the MIAX Options Exchange is also housed 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 further information regarding the MIAX Options Exchange, including news and recent developments, member onboarding, and technology onboarding, including specifications and requirements, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.
