PRINCETON, New Jersey, June 1, 2015 /PRNewswire/ -- MIAX Options Exchange (MIAX®) announced today that in May 2015 it established a new MIAX monthly market share record with 7.56% of the overall equity options market share for the month. This new record surpasses the 7.29% mark established in April 2015. For the month of May 2015, MIAX executed over 20,800,000 million contracts. This equated to an average daily volume of over 1,040,000 contracts, or 2.7 times May 2014 volume.
In commenting on these recent results, Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX, stated, "We are pleased with our May 2015 performance results and as we begin the June trading month, we anticipate a strong finish to the second quarter of 2015." Gallagher commented further, "MIAX's continued growth in volume and market share is a testament to the confidence that our MIAX Exchange member firms have placed in our trading system, and we look forward to additional growth in the future as our member firms take full advantage of the functionalities and trading capabilities that MIAX has to offer."
In other news, MIAX also announced today that Mr. Gallagher will present at the Sandler O'Neill 2015 Global Exchange and Brokerage Conference in New York on Wednesday, June 3, 2015. Mr. Gallagher's presentation will be part of the Innovation Workshop and address how MIAX brought new technology and innovation to the trading of multi-listed equity options.
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About MIAX and MIH
MIAX, which commenced operations on December 7, 2012, is a fully electronic options trading exchange approved by the SEC as a national securities exchange on December 3, 2012. MIAX has assembled a team with deep rooted experience in developing, operating and trading on options exchanges. Its trading platform has been developed in-house and designed from the ground up for the unique functional and performance demands of derivatives trading. MIAX Options now lists and trades options on over 2,100 multi-listed classes. The MIAX Options Exchange's unparalleled system throughput is approximately 27 million quotes per second. The average latency for a single quote on MIAX is approximately 27.41 microseconds for a full round trip. At the 99th percentile, the latency on MIAX is approximately 61.93 microseconds. At the 99.9th percentile, the latency on MIAX is approximately 99.43 microseconds. The MIAX executive offices and technology development center as well as the National Operations Center for the MIAX Options Exchange are located in Princeton, New Jersey.
MIAX and Miami International Technologies, LLC (MIAX Technologies) are wholly-owned subsidiaries of Miami International Holdings, Inc. (MIH). MIAX Technologies is the Company's technology subsidiary for the sale and/or license of MIAX trading technology. MIAX intends to launch the MIAX Equities Exchange and plans to pursue Latin American equity listings. The launch of the MIAX Equities Exchange is subject to SEC approval. The MIAX Futures Exchange is also planned as a follow-on initiative. The launch of the MIAX Futures Exchange is subject to CFTC approval.
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of MIH, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning the plans, objectives, expectations and intentions and other statements that are not historical or current facts of MIH, together with its subsidiaries, including MIAX (the Company). Forward-looking statements include, but are not limited to, statements about the possible or assumed future results of operations of the Company; the competitive position of the Company; potential growth opportunities available to the Company; the expectation with respect to securities, options and future markets and general economic conditions; the effects of competition on the Company's business; and the impact of future legislation and regulatory changes on the Company's business. Forward-looking statements are based on the Company's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements.
SOURCE MIAX Options Exchange