PRINCETON, New Jersey, Oct. 10, 2014 / PRNewswire – MIAX Options Exchange (MIAX) announced today that it executed in excess of 1,000,000 contracts in a single day for the first time today, representing a new single-day record for the exchange. In total, MIAX executed 1,049,727 contracts, which represented a 4.38% market share of overall equity options volume.
Thomas P. Gallagher, MIAX’s Chairman and Chief Executive Officer said, “Today’s performance represents a significant milestone for MIAX. We are pleased at our performance today, as well as appreciative of the support that our customers have shown us.”
In addition, MIAX announced today that it is the 2014 ISE® Northeast Project Award Winner following its participation in the annual Information Security Executive® (ISE®) of the Year Award Program and Cybersecurity summit held on October 9, 2014 in New York. Participants in the summit included companies such as ADP, AES Energy, Aetna, Blackstone, Citi, Comcast, D&B, and Quest Diagnostics, along with the University of Connecticut.
As part of this annual event, each nominee submitted projects that broke new ground in risk management and information security within the last 18 months. An independent panel of judges reviewed all of the project nominations and assigned overall scores based the project’s scope, goals, execution, and results.
“We are very pleased that the MIAX Enterprise-wide Risk Dashboard and Alerting project has been selected as the 2014 ISE® Northeast Project Award Winner,” said John Masserini, Chief Security Officer and Vice President of Information Security at MIAX. “This award is the culmination of a great deal of hard work by our team.”
Mr. Gallagher further stated, “We would like to congratulate John Masserini and Doug Schafer, our Executive Vice President and Chief Information Officer, for their leadership and diligence in seeing this project through to its full implementation. In addition, many teams at MIAX had a hand in this exciting project, and we greatly appreciate their efforts as well.”
The goal of the MIAX Enterprise-wide Risk Dashboard and Alerting project was to deploy a best-of-breed solution that would be used by every single MIAX team to monitor, alert, and report on corporate-wide risks. The cutting-edge solution, based upon the correlation, aggregation, and risk scoring functions of IBM’s QRadar platform provides custom, individualized dashboards to the entire Operation’s Center as well as concise, risk-centric dashboards and reports for use by the Information security group. Additionally, with the integration of the Norse real-time threat intelligence feed, the MIAX Information Security team is able to proactively alert on known bad actors that are using new attack vectors which would otherwise go unnoticed.
In related matters, Mr. Schafer said, “We are also pleased that our project has also been selected for consideration in the ISE North America awards, which will be held in early November.”
Corporate Communications Contact: Dominique Prunetti-Miller
+1 (609) 897-1465
About MIAX and MIH
MIAX, which commenced operations on December 7, 2012, is a fully electronic options trading exchange approved by the SEC as a national securities exchange on December 3, 2012. Since its first day of operations, MIAX has maintained an uptime of 100% and achieved in excess of 4.5% market share of U.S. options trading for classes listed on MIAX on October 10, 2014. MIAX has assembled a team with deep rooted experience in developing, operating and trading on options exchanges. Its trading platform has been developed in-house and designed from the ground up for the unique functional and performance demands of derivatives trading. MIAX Options now lists and trades options on the majority of the top 1,200 multi-listed classes. The MIAX Options Exchange’s unparalleled system throughput is in excess of 27 million quotes per second. The average latency for a single quote on MIAX is approximately 24.7 microseconds for a full round trip. At the 99th percentile, the latency on MIAX is approximately 39.7 microseconds. At the 99.9th percentile, the latency on MIAX is approximately 102.4 microseconds. The MIAX executive offices and technology development center as well as the National Operations Center for the MIAX Options Exchange are located in Princeton, New Jersey.
MIAX and Miami International Technologies, LLC (MIAX Technologies) are wholly-owned subsidiaries of Miami International Holdings, Inc. (MIH). MIAX Technologies is the Company’s technology subsidiary for the sale and/or license of MIAX trading technology. MIAX intends to launch the MIAX Equities Exchange and plans to pursue Latin American equity listings. The launch of the MIAX Equities Exchange is subject to SEC approval. The MIAX Futures Exchange is also planned as a follow-on initiative. The launch of the MIAX Futures Exchange is subject to CFTC approval.
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 (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.