PRINCETON, New Jersey, Feb. 15, 2017 /PRNewswire/ -- MIAX Options Exchange announced today that it was named "Best Overall Exchange" at the Fund Technology and WSL Awards 2017. Previously known as the WSL (Wall Street Letter) Institutional Trading Awards, the Fund Technology and WSL Awards 2017 recognize and reward providers catering to asset managers and institutional traders that have demonstrated exceptional customer service and innovative product development over the past 12 months. In 2015 and 2016 MIAX Options was named "Best Infrastructure/Technology Initiative by an Exchange/ATS" by the Wall Street Letter.
"We are honored to be named Best Overall Exchange at Fund Technology and WSL Awards 2017," said Shelly Brown, Executive Vice President, Strategic Planning and Operations of MIAX Options. "We would like to thank the judges for recognizing MIAX Options' continued commitment to providing the best trading experience available in the industry through our innovation and technology initiatives."
Added Douglas M. Schafer, Jr., Executive Vice President and Chief Information Officer of MIAX Options, "To be named Best Overall Exchange is something that we strive for here at MIAX Options. This award reflects the tremendous talents of all of our MIAX Options team members and their determination to create an exchange and overall trading experience that meet the needs of our member firms and the trading industry. We are also confident that we will be successful in providing a similar trading experience on MIAX PEARL, the second and newest exchange in the MIAX exchange group, now that it has launched trading operations."
"The hard work of the entire MIAX Options team is the reason for our exchange being recognized for its excellence at the Fund Technology and WSL Awards 2017," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX Options, "and I would like to commend all of our team members for their efforts and continued dedication to MIAX Options. This is truly a remarkable achievement in the history of our company."
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About MIAX Options and MIH
Miami International Securities Exchange, LLC (MIAX Options) is a fully electronic options trading exchange. MIAX Options 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 2,700 multi-listed classes. MIAX Options' unparalleled system throughput is approximately 38 million quotes per second. The average latency for a single quote on MIAX Options is approximately 17.38 microseconds for a two quote block. At the 99th percentile, the latency on MIAX Options is approximately 26.86 microseconds. At the 99.9th percentile, the latency on MIAX Options is approximately 53.11 microseconds. The executive offices and technology development center as well as the National Operations Center for MIAX Options are located in Princeton, New Jersey.
MIAX Options, Miami International Technologies, LLC (MIAX Technologies), MIAX Global, LLC (MIAX Global) and MIAX PEARL, LLC (MIAX PEARL) are wholly-owned subsidiaries of Miami International Holdings, Inc. (MIH). MIAX Technologies is MIH's technology subsidiary for the sale and/or license of the trading technology developed by MIAX Options. MIAX Global focuses on merger, acquisition and joint venture activities of MIH. MIAX Global also provides technology and other services outside of North America, with its initial concentration being on Europe and Latin America. MIAX PEARL is MIH's second fully electronic options trading exchange. MIAX PEARL launched trading operations on February 6, 2017 and leverages the industry leading technology and infrastructure developed by MIAX Options to employ a price-time allocation model.
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 Options (collectively, 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