Membership
MIAX® seeks to attract exchange members that represent a broad range of trading firms, order flow providers, and market makers. Our members benefit from our proprietary technology differentiated by its throughput, latency, reliability and wire-order determinism.
Membership on our exchanges
MIAX offers memberships on our U.S. and international exchanges for corporations, partnerships, limited liability companies and sole proprietorships. Membership requirements are different for each exchange and available through a streamlined application process. See below for additional details on becoming an exchange member.
Contact our Membership Department to coordinate an introductory meeting covering the Membership and Technical Onboarding Process. Memberships of each exchange are available to corporations, partnerships, limited liability companies or sole proprietorships and must be a broker dealer registered pursuant to Section 15 of the Exchange Act.
International firms wishing to become trading members must incorporate a subsidiary in Bermuda as an exempted company; meet the minimum net capital BSX requirements; and pay BSX trading membership fees. Trading memberships are available to international brokers who meet BSX requirements, without limitation on numbers.
Firms interested in becoming a clearing member at MIAX Futures™ are required to provide a security deposit of $500,000; meet CFTC minimum financial requirements; and provide required supporting documents.
Equity Rights Programs (ERPs) strategically align industry-leading trading firms, order flow providers, and market makers with MIAX.
In 2013, we established our first of five successful ERPs which are unique performance warrant programs designed to build market share while further aligning us with our trading firms, order flow providers, and market makers. Our ERPs enabled us to develop strong relationships with our core trading firms by giving participants the right to invest in Miami International Holdings, Inc. in exchange for payment of an initial purchase price or the prepayment of certain exchange fees and the achievement of certain liquidity volume thresholds. These programs enhanced liquidity and overall levels of trading volume for other participants on our exchanges and provided upfront capital to support the investment in and growth of MIAX. These relationships also provided opportunities for the company to expand into new marketplaces and asset classes.