PRINCETON, New Jersey, Feb. 7, 2019 /PRNewswire/ -- MIAX Options® Exchange announced today that it won the "Most Innovative Exchange Technology" category at the Fund Technology and WSL Awards 2019. The Fund Technology and WSL Awards 2019 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. This is the first time MIAX Options has won in this category. Previously, MIAX Options was named "Best Overall Exchange" in 2017 and won "Best Infrastructure/Technology Initiative by Exchange/ATS" in 2015, 2016 and 2018.
MIAX Options is a fully electronic options exchange that is part of the MIAX Exchange Group™ along with MIAX PEARL™. A third exchange, MIAX Emerald, is scheduled to join the MIAX Exchange Group on March 1, 2019, subject to the SEC's final approval of this launch date. The entire MIAX Exchange Group leverages the industry-leading technology of MIAX Options.
"We are honored to be recognized for our exchange technology that was designed and built completely in-house by the MIAX technology teams," said Matt Rotella, Senior Vice President and Chief Technology Officer of MIAX. "This award highlights our commitment to designing and implementing innovative exchange technology for our member firms, and we would like to thank the Fund Technology and WSL Awards 2019 judges for this recognition."
Added Douglas M. Schafer, Jr., Executive Vice President and Chief Information Officer of MIAX, "In an industry based heavily on the function, quality and performance of technology, this award is a tremendous achievement for the MIAX technology teams that work in concert to bring best-of-breed solutions to the exchange marketplace, and I applaud them for their vision and drive. We are very proud of the exchange technology that we have built and look forward to providing continued technological innovation to the exchange industry."
About MIAX Options and MIH
Miami International Securities Exchange, LLC (MIAX Options) is a fully electronic options trading exchange and wholly-owned subsidiary of Miami International Holdings, Inc. (MIH). MIAX Options currently lists and trades options on approximately 2,800 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 16.49 microseconds for a full round trip. At the 99th and 99.9th percentiles, the latency on MIAX Options is approximately 23.71 and 67.64 microseconds, respectively. MIAX Options is part of the MIAX Exchange Group along with MIAX PEARL, LLC (MIAX PEARL™), MIH's second options exchange. A third options exchange, MIAX Emerald, LLC (MIAX Emerald), is expected to join the MIAX Exchange Group on March 1, 2019, subject to the SEC's final approval of this launch date.
The MIAX Exchange Group has assembled a team with deep-rooted experience in developing, operating and trading on options exchanges, and its trading platforms have been developed in-house and designed from the ground up for the unique functional and performance demands of derivatives trading. MIAX Options, MIAX PEARL and MIAX Emerald (following launch) leverage the MIAX Exchange Group's industry-leading technology and infrastructure to provide their member firms with traditional pricing and pro rata allocation (MIAX Options) and maker-taker pricing and price-time allocation (MIAX PEARL) market structures, as well as a hybrid market structure with maker-taker pricing and pro rata allocation (MIAX Emerald). The MIAX Exchange Group's executive offices and National Operations Center are located in Princeton, New Jersey. The MIAX Exchange Group also maintains a Miami Operations Center in Miami, Florida, which contains the Miami Annual Meeting and Conference Center and the offices of MIAX Technologies and MIAX Global.
In addition to MIAX PEARL, MIAX Options and MIAX Emerald, MIH is the parent holding company of Miami International Technologies, LLC (MIAX Technologies) and MIAX Global, LLC (MIAX Global). MIAX Technologies is MIH's technology subsidiary for the sale and/or license of the trading technology developed by the MIAX Exchange Group. 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.
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