Media Contact:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
anybo@miami-holdings.com

PRINCETON, N.J. — May 19, 2023 — Miami International Holdings, Inc. (MIH), owner of Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), Minneapolis Grain Exchange, LLC (MGEXTM), The Bermuda Stock Exchange (BSX), and Dorman Trading LLC, today announced that it has completed its acquisition of LedgerX LLC (LedgerX) from Ledger Holdings Inc. in connection with the bankruptcy proceedings of FTX Trading Ltd. and its affiliated debtors.
 
LedgerX is a Commodity Futures Trading Commission (CFTC) regulated exchange and clearinghouse and is registered as a Designated Contract Market (DCM), Derivatives Clearing Organization (DCO) and Swap Execution Facility (SEF) with the CFTC.
 
“The acquisition of LedgerX represents an important part of our growth strategy, expanding our ability to offer new and innovative products to the swaps and futures industry,” said Thomas P. Gallagher, Chairman and CEO of MIH. “We are pleased to complete this acquisition and welcome the LedgerX team to the MIH family as we continue to execute on our strategy of operating regulated financial markets both in the U.S. and internationally.”
 
Piper Sandler & Co. acted as financial advisor to MIH, and Cleary Gottlieb Steen & Hamilton LLP and Gallagher, Briody & Butler served as legal advisors to MIH.
 
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®), Minneapolis Grain Exchange, LLC (MGEX™), The Bermuda Stock Exchange (BSX) and Dorman Trading, LLC (Dorman Trading).
 
MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission (SEC) that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all three 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 and also serves as the exclusive market for SPIKES 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.
 
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 Miami, FL. MGEX offices are located in Minneapolis, MN. 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.mgex.com.
To learn more about BSX visit www.bsx.com.
To learn more about Dorman Trading visit www.dormantrading.com.
 
About LedgerX
LedgerX is a Commodity Futures Trading Commission regulated exchange and clearinghouse and is registered as a Designated Contract Market (DCM), Derivatives Clearing Organization (DCO) and Swap Execution Facility (SEF) with the CFTC.
 
To learn more about LedgerX visit www.ledgerx.com.
 
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.