Miami International Holdings Announces Renaming of Minneapolis Grain Exchange to MIAX Futures Exchange

MINNEAPOLIS and PRINCETON, N.J., Oct. 3, 2024 /PRNewswire/ -- Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced the renaming of Minneapolis Grain Exchange, LLC (MGEX), a wholly owned subsidiary of MIH, to MIAX Futures Exchange, LLC (MIAX Futures).

MIAX Futures provides MIH with a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) to list and trade futures and options on futures products. MGEX's flagship Hard Red Spring Wheat (HRSW) futures and options will be rebranded as Minneapolis Hard Red Spring Wheat futures and options concurrent with the name change to MIAX Futures. 

"MIH's acquisition of MGEX in 2020 marked our entry into the futures industry and the exchange has served as an important foundation upon which to expand our futures initiatives," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. "MIAX Futures is positioned to be a key part of our strategy as we expand the range of products we offer to the industry, including the new equity index products we plan to list in collaboration with Bloomberg Index Services."

"Although MGEX has a successful legacy in the futures industry, the new name reflects our strategy to broaden the range of futures and options products we list on the exchange," said Troy Kane, President of MIAX Futures. "The new MIAX Futures Onyx matching engine, which we plan to roll out in 2025, will provide us with a powerful platform to offer innovative agricultural and financial futures products to the marketplace."

MIAX Futures is a fully electronic, vertically integrated futures exchange and clearing house and is registered with the CFTC as a DCM and DCO. MGEX was established in 1881 and MIH acquired 100% ownership of MGEX on December 4, 2020.  

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™), MIAX Futures, LLC (MIAX Futures), 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).

MIAX Futures is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Minneapolis Hard Red Spring Wheat Futures. MIAX Futures 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. MIAX Futures 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 MIAX Futures visit www.miaxglobal.com/miax-futures.

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.

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

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