Miami International Holdings Announces Index Licensing Agreement with Bloomberg
MIAMI AND PRINCETON, N.J. — September 18, 2024 — Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced it has entered into a licensing agreement with Bloomberg Index Services Limited (Bloomberg Indices) to develop a suite of index futures, options on futures, and cash options products based on Bloomberg Indices’ portfolio of benchmarks. MIH will initially offer a number of equity index products which will be exclusively listed and traded on MIH’s exchanges, subject to regulatory approval.
“Our collaboration with Bloomberg Indices will provide the financial industry with access to a broad range of futures and options products designed to meet the needs of both retail and institutional equity investors,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. “We are very encouraged with the long-term potential for our collaboration, particularly given the depth and breadth of Bloomberg’s global distribution capabilities and the growing trend of asset managers, funds, and other investors benchmarking to Bloomberg indices.”
“Bloomberg Indices has invested considerable resources in developing a suite of innovative equity benchmarks covering a broad range of geographies, sectors and industries using our rules-based and transparent methodology,” said Dave Gedeon, CEO, Bloomberg Indices. “Our collaboration with MIH to offer financial derivative products based on Bloomberg equity indices will provide the global investment community with a new range of innovative tools to help manage its equity risk exposure.”
Mr. Gallagher added, “The combination of MIH’s expertise in operating futures and options exchanges and Bloomberg’s advanced index, calculation, research and distribution capabilities will bring much-needed competition to the equity index derivatives industry.”
Bloomberg offers a complete set of global equity index families covering over 99+% of the eligible free float market cap in 48 developed and emerging countries. Bloomberg Equity Indices are available in global, regional, country, and sector exposures, in various currencies and returns (price/total/net) for clients to utilize for benchmarking, asset allocation and product creation. Since launching its suite of equity index products in 2019, Bloomberg now calculates more than 6,000 global equity indices using transparent, rules-based methodologies.
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About MIAX
MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), MIAX Sapphire, LLC (MIAX Sapphire™), Minneapolis Grain Exchange, LLC (MGEX™), Ledger X LLC d/b/a MIAX Derivatives Exchange (MIAXdx™), The Bermuda Stock Exchange (BSX™) and Dorman Trading, LLC (Dorman Trading).
MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism. MIAX also serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).
MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Hard Red Spring Wheat Futures. MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes.
MIAXdx is a CFTC regulated exchange and clearinghouse and is registered as a DCM, DCO, and Swap Execution Facility (SEF) with the CFTC.
BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.
Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.
MIAX’s executive offices and National Operations Center are located in Princeton, N.J., with additional U.S. offices located in Chicago, IL and Miami, FL. MGEX offices are located in Minneapolis, MN. MIAXdx offices are located in Princeton, N.J. BSX offices are located in Hamilton, Bermuda. Dorman Trading offices are located in Chicago, IL.
To learn more about MIAX visit www.miaxglobal.com.
To learn more about MGEX visit www.miaxglobal.com/mgex.
To learn more about MIAXdx visit www.miaxdx.com.
To learn more about BSX visit www.bsx.com.
To learn more about Dorman Trading visit www.dormantrading.com.
About Bloomberg Index Services Limited
Bloomberg’s index team has a proven track record in creating industry-leading and bespoke indices across asset classes, including their flagship fixed income, commodity and equity indices. Bloomberg Index Services Limited (BISL) takes an innovative approach to delivering strategic benchmarks that help market participants address their evolving investment needs. The indices, which are seamlessly integrated with other Bloomberg solutions, draw on a comprehensive range of trusted data and reliable technology for calculations, analytics and workflow automation, along with distribution capabilities that can help amplify the visibility of our customers’ products.
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 Miami International Holdings, Inc. (together with its subsidiaries, the Company), 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. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company's use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.
MIAX media contact:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
anybo@miaxglobal.com
Bloomberg media contact:
Casey Sheets
+1 (212) 617 6463
csheets8@bloomberg.net
“Our collaboration with Bloomberg Indices will provide the financial industry with access to a broad range of futures and options products designed to meet the needs of both retail and institutional equity investors,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. “We are very encouraged with the long-term potential for our collaboration, particularly given the depth and breadth of Bloomberg’s global distribution capabilities and the growing trend of asset managers, funds, and other investors benchmarking to Bloomberg indices.”
“Bloomberg Indices has invested considerable resources in developing a suite of innovative equity benchmarks covering a broad range of geographies, sectors and industries using our rules-based and transparent methodology,” said Dave Gedeon, CEO, Bloomberg Indices. “Our collaboration with MIH to offer financial derivative products based on Bloomberg equity indices will provide the global investment community with a new range of innovative tools to help manage its equity risk exposure.”
Mr. Gallagher added, “The combination of MIH’s expertise in operating futures and options exchanges and Bloomberg’s advanced index, calculation, research and distribution capabilities will bring much-needed competition to the equity index derivatives industry.”
Bloomberg offers a complete set of global equity index families covering over 99+% of the eligible free float market cap in 48 developed and emerging countries. Bloomberg Equity Indices are available in global, regional, country, and sector exposures, in various currencies and returns (price/total/net) for clients to utilize for benchmarking, asset allocation and product creation. Since launching its suite of equity index products in 2019, Bloomberg now calculates more than 6,000 global equity indices using transparent, rules-based methodologies.
###
About MIAX
MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), MIAX Sapphire, LLC (MIAX Sapphire™), Minneapolis Grain Exchange, LLC (MGEX™), Ledger X LLC d/b/a MIAX Derivatives Exchange (MIAXdx™), The Bermuda Stock Exchange (BSX™) and Dorman Trading, LLC (Dorman Trading).
MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism. MIAX also serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).
MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Hard Red Spring Wheat Futures. MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes.
MIAXdx is a CFTC regulated exchange and clearinghouse and is registered as a DCM, DCO, and Swap Execution Facility (SEF) with the CFTC.
BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.
Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.
MIAX’s executive offices and National Operations Center are located in Princeton, N.J., with additional U.S. offices located in Chicago, IL and Miami, FL. MGEX offices are located in Minneapolis, MN. MIAXdx offices are located in Princeton, N.J. BSX offices are located in Hamilton, Bermuda. Dorman Trading offices are located in Chicago, IL.
To learn more about MIAX visit www.miaxglobal.com.
To learn more about MGEX visit www.miaxglobal.com/mgex.
To learn more about MIAXdx visit www.miaxdx.com.
To learn more about BSX visit www.bsx.com.
To learn more about Dorman Trading visit www.dormantrading.com.
About Bloomberg Index Services Limited
Bloomberg’s index team has a proven track record in creating industry-leading and bespoke indices across asset classes, including their flagship fixed income, commodity and equity indices. Bloomberg Index Services Limited (BISL) takes an innovative approach to delivering strategic benchmarks that help market participants address their evolving investment needs. The indices, which are seamlessly integrated with other Bloomberg solutions, draw on a comprehensive range of trusted data and reliable technology for calculations, analytics and workflow automation, along with distribution capabilities that can help amplify the visibility of our customers’ products.
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 Miami International Holdings, Inc. (together with its subsidiaries, the Company), 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. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company's use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.
MIAX media contact:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
anybo@miaxglobal.com
Bloomberg media contact:
Casey Sheets
+1 (212) 617 6463
csheets8@bloomberg.net