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Miami International Holdings Announces Troy Kane Joins Executive Management Team as President of MGEX

Published

1 month ago

April 9, 2024

PRINCETON, N.J., April 9, 2024 /PRNewswire/ — Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes and geographies, today announced Troy Kane has joined the company as President of Minneapolis Grain Exchange (MGEX™) where he will be responsible for day-to-day operations of the exchange. Mr. Kane has also been appointed CEO of MIAX Futures, a newly formed company that will manage the futures businesses of MIH where he will be responsible for the development of the company’s futures business strategy. Mark Bagan will continue as CEO of MGEX during a transition period after which time he is expected to continue with MGEX as Executive Vice Chairman of the Board.

“Troy brings a wealth of experience and expertise to his new role as the President of MGEX and CEO of MIAX Futures, and we are excited to welcome him to the MIH executive management team,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. “We are looking forward to leveraging Troy’s deep knowledge of capital markets, industry relationships and extensive domain expertise to accelerate a number of key strategic initiatives for our futures exchanges.”

“I am thrilled to welcome Troy to MIH and look forward to working with him to drive continued growth and success of our futures businesses,” said Mark Bagan, Executive Vice President and CEO of MGEX. “As a highly accomplished industry leader, he will be an invaluable addition to our management team as we execute on our futures growth strategy.”

Mr. Kane joins MIAX after serving as Chief Operating Officer, Counterparty Strategy and Global Head of Derivatives and FICC Development at Citadel Securities where he managed Citadel Securities’ strategic partnerships with exchanges, banks and vendors. He was also responsible for the firm’s business development and market structure advocacy across futures, options and fixed income products globally and equity products in the Americas.

Prior to Citadel Securities, Mr. Kane served as Senior Director, Head of Strategy for Financial and OTC Products at CME Group where he was responsible for coordinating the development and execution for CME’s financial and OTC business lines strategies, technology and key strategic initiatives. Prior to CME, Mr. Kane was Global Head of Algorithmic Business Development at BGC Partners and Chief Operating Officer at Eagle Seven. Prior to these roles, Mr. Kane held a number of roles at CME Group including managing its proprietary trading client relationships, supporting its CME Globex operations and managing the daily operations of CME’s e-cbot and a/c/e Global Electronic Trading Systems. Mr. Kane began his career as a floor clerk at Kane Trading in the grain and oilseed pits at Chicago Board of Trade.

Mr. Kane earned a bachelor’s degree in commerce from DePaul University and a master’s degree in business administration from Roosevelt University.

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^TM), MIAX Futures Holdco, LLC (MIAX Futures), Minneapolis Grain Exchange, LLC (MGEX™), LedgerX LLC (LedgerX), 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).

MIAX Futures is a newly formed company that will focus on the business strategy and development of the company’s futures businesses.

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.

LedgerX is a 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.

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. LedgerX 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 LedgerX visit www.ledgerx.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.

Media Contact:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
[email protected]

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Latest News

Bankart migrates payment processing to Diebold Nixdorf’s Vynamic Transaction Middleware

Published

2 hours ago

May 16, 2024

Peter Tolan

“Bankart Chooses Diebold Nixdorf’s Vynamic Transaction Middleware for Enhanced Payment Processing”

Bankart, a prominent financial institution based in Slovenia, is undergoing a significant transformation by transitioning its payment processing services from ACI Worldwide’s Base24 to Diebold Nixdorf’s innovative Vynamic Transaction Middleware solution. This strategic collaboration underscores Bankart’s commitment to optimizing its payment processing capabilities and delivering enhanced services to its clientele.

Through this partnership, Bankart will leverage Diebold Nixdorf’s cloud-based platform to streamline various aspects of payment processing, including issuing, acquiring, transaction switching, and e-commerce services. Serving a network of 20 banks across Central and Eastern Europe (CEE), Bankart collectively processes over 600 million transactions annually, highlighting the scale and importance of this initiative.

Diebold Nixdorf’s Vynamic Transaction Middleware is designed to provide Bankart with the flexibility and scalability required to develop and deploy new products and services efficiently. Leveraging smart routing, graphical interfaces, and low-code modeling, the platform operates autonomously from Bankart’s core systems, enabling seamless integration across multiple banking channels.

Aleksander Kurtevski, Managing Director at Bankart, expresses confidence in Diebold Nixdorf’s Vynamic Transaction Middleware, emphasizing its ability to tailor payment processing solutions to meet diverse customer needs. He underscores the platform’s role in creating an open and connected digital environment where payments play a central role in everyday life.

As Bankart embarks on a multi-phased migration to implement the Vynamic Transaction Middleware platform, Kurtevski reassures customers that the transition process will be conducted with minimal disruption. This strategic initiative underscores Bankart’s commitment to innovation and excellence in payment processing services.

Source: fintechfutures.com

The post Bankart migrates payment processing to Diebold Nixdorf’s Vynamic Transaction Middleware appeared first on HIPTHER Alerts.

Latest News

ATM Giant Hyosung Americas Announces Fintech Innovation Veteran as CEO

Published

4 hours ago

May 16, 2024

Peter Tolan

Kunoh Kim, a seasoned fintech professional, has been appointed as the new CEO of Hyosung Americas, headquartered in Irving. Known globally for its innovative ATM hardware, software, and services catering to financial and retail sectors, Hyosung Americas welcomes Kim as the successor to Sang Hwan Kweon, who was promoted from Chief Operating Officer to CEO in September 2022 following the retirement of former CEO Hee-Eun Ahn.

Nancy Gail Daniels, Chief Revenue Officer of Hyosung Americas, expressed enthusiasm for Kim’s appointment, emphasizing his intelligence, business acumen, and recent success in driving fintech and retail technology ventures in Korea. She anticipates that Kim’s expertise will significantly benefit Hyosung Americas’ growing business in North America.

Having relocated to its Las Colinas headquarters in late 2020, Hyosung Americas has been at the forefront of innovation, launching a new line of ATMs in July 2022 designed for future needs, including cash, crypto, and gaming. The company’s commitment to innovation is further highlighted by the introduction of its “Hyosung Innovue” brand identity and the rollout of Cajera Series ATMs capable of handling bill payments, crypto transactions, and cash recycling.

With over 26 years of leadership experience in fintech innovation, Kim has played a pivotal role in advancing Hyosung’s integrated payment solutions and leveraging big data platforms. Before joining Hyosung Americas, Kim served in leadership roles at Hyosung TNS and Hyosung Corp., where he spearheaded the launch of retail solution products such as self-order and self-checkout kiosks.

Expressing gratitude for the warm reception from the Hyosung Americas team, Kim affirmed his commitment to contributing to the company’s success in North America. He expressed confidence in achieving great outcomes together with the talented team at Hyosung Americas.

Michael Graham, Chief Product Officer of Hyosung Americas, echoed Daniels’ sentiments, expressing confidence in Kim’s leadership and his ability to enhance the company’s commitment to delivering exceptional customer experiences.

As the North American subsidiary of South Korea-based Hyosung TNS, Inc., Hyosung Americas prides itself on being a leading provider of cash management and payments platform services globally. Since its entry into the North American market in 1998, the company has evolved from being the largest provider of ATMs in the United States to offering innovative and transformative technology solutions across the cash management and payments spectrum.

Source: dallasinnovates.com

The post ATM Giant Hyosung Americas Announces Fintech Innovation Veteran as CEO appeared first on HIPTHER Alerts.

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B Lab UK research reveals UK public back change to company law to put people, the planet and profit on more equal footing

Published

5 hours ago

May 15, 2024

CISION (PR Newswire)

LONDON, May 16, 2024 /PRNewswire/ — New research released today reveals that over three quarters of the UK public (76%) believe that, more than ever before, the law needs to change to give businesses a legal responsibility to prioritise people and the planet alongside making a profit.

UK law currently requires firms to operate under a legal regime of shareholder primacy, meaning company directors too often put profit ahead of society and the environment.

The research, which looks at UK opinion on business responsibility, was conducted by B Lab UK ahead of this year’s Better Business Day (Thursday 16^th May).

Better Business Day will see a broad coalition of businesses call to enact the Better Business Act — a proposed change to Section 172 of the Companies Act that would empower company directors to align the interests of shareholders with their employees, customers, local communities and the environment.

Support for the change spans political preferences with voters across the party divide strongly giving their backing; 85% of Labour supporters, 70% of Conservative supporters, and 89% of both Liberal Democrat and Green Party supporters said they were in favour of the proposed amendment to the law.

When respondents were asked about their biggest single motivator for backing the change, looking after people was at the forefront.

Over a quarter (28%) polled believed the most important reason was to protect employees, with recent developments such as the Post Office scandal highlighting a need for change.

This was followed by the need to support the public during the ongoing cost of living crisis (26%) and the fact that businesses should have a legal responsibility to protect the environment (25%).

Around the UK, Wales is the biggest supporter of the proposed amendment, with 86% of people polled there saying the law must change.

The research showed that increasingly the public are looking to businesses to act as a force for good and will prioritise those that do. Almost half of respondents (47%) said that they will only work for companies that show themselves to have a responsibility towards wider stakeholders including their employees, customers, local communities and the environment.

45% also said they would only invest in, and purchase goods from, companies who act in a responsible way, indicating that businesses who prioritise people and the planet have a competitive advantage.

Mary Portas, Chair of the Better Business Act, and founder of Portas agency, said:

“The data is clear. And so is the cultural mood. The British public are crying out for businesses to make a change and make it their legal right and responsibility to look after people and the planet.

We see this demand across the board. From all parts of the UK. All age ranges. All political persuasions. As we head into the election, it’s a challenge the next government cannot ignore.

Thousands of businesses have already prioritised responsible decision-making. It’s only fair that the government now supports every company – big and small – in their journey towards becoming a better business.”

Chris Turner, Campaign Director of the Better Business Act and Executive Director of B Lab UK, said:

“It’s been three years since we launched the Better Business Act campaign. In that time, we’ve seen a growing majority of the UK public demand more from the companies they engage with, while leaders of these organisations also recognise that we need to change ‘business as usual’. Over 2,500 UK companies from all sectors and of all sizes are now backing the Better Business Act, demonstrating the urgency for the next Government to take action and empower all business leaders to prioritise people and the planet alongside profit.

During a time when people are battling a cost-of-living crisis, global temperatures are rising and inequality is reaching new heights, updating Section 172 of the Companies Act would ensure that business becomes part of the solution to the social, environmental and economic challenges we face.”

During Better Business Day, B Lab UK will be releasing a new video in support of amendments to Section 172 of the Companies Act. The film will show UK business leaders sharing elevator pitches as to why they support the campaign.

These contributors are Mary Portas (Co-Chair of Better Business Act and Founder of Portas Agency), Amy Clarke (Chief Impact Office of Tribe Impact Capital), Chris Turner (Executive Director of B Lab UK and Campaign Director of Better Business Act), Dr Ateh Jewel (Entrepreneur), Safia Minney (Author and Entrepreneur), and Luke Boase (Founder of Lucky Saint).

To find out more information visit https://betterbusinessact.org/

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