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Miami International Holdings Reports November 2023 Trading Results; YTD Options and Equities Volumes Remain at Record Levels

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PRINCETON, N.J., Dec. 8, 2023 /PRNewswire/ — Miami International Holdings, Inc. today reported November 2023 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX™).

November 2023 and Year-to-Date Trading Volume and Market Share Highlights

  • Total multi-listed monthly options volume for the MIAX Exchange Group reached 120.8 million contracts, a 5.0% increase year-over-year (YoY) and representing a monthly market share of 14.75%, an 8.8% increase YoY. Total year-to-date (YTD) volume reached a record 1.5 billion contracts, a 23.3% increase from the same period in 2022.
  • MIAX Options reached a monthly volume of 48.4 million contracts, a 5.4% decrease YoY and representing a monthly market share of 5.91%, a 2.0% decrease YoY. MIAX Options reached a record YTD volume of 582.6 million contracts, up 16.2% from the same period in 2022.
  • MIAX Pearl Options reached a monthly volume of 48.2 million contracts, a 28.1% increase YoY and representing a monthly market share of 5.88%, a 32.8% increase YoY. MIAX Pearl Options reached a record YTD volume of 600.8 million contracts, up 53.1% from the same period in 2022.
  • In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 4.6 billion shares, a 77.6% increase YoY and representing a monthly market share of 2.08%, an 89.0% increase YoY. MIAX Pearl Equities reached a record YTD volume of 42.5 billion shares, up 55.2% from the same period in 2022.
  • In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 328,252 contracts, a 39.4% increase YoY and a 37.7% increase from October 2023.

Additional MIAX Exchange Group and MGEX trading volume and market share information are included in the tables below.

Multi-Listed Options Trading Volume for

 MIAX Exchange Group, Current Month

Year-to-Date Comparison

Multi-Listed Options
Contracts

Nov-23

Nov-22

% Chg

Oct-23

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% Chg

Nov-23

Nov-22

% Chg

Trading Days

21

21

22

230

230

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U.S. Equity Options Industry

819,353,114

849,328,703

-3.5 %

881,187,563

-7.0 %

9,260,697,779

8,801,910,138

5.2 %

MIAX Exchange Group

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120,847,771

115,108,818

5.0 %

128,285,624

-5.8 %

1,458,725,010

1,183,525,471

23.3 %

MIAX Options

48,435,412

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51,219,220

-5.4 %

50,250,770

-3.6 %

582,625,524

501,205,712

16.2 %

MIAX Pearl

48,184,598

37,617,916

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28.1 %

53,356,464

-9.7 %

600,756,195

392,385,775

53.1 %

MIAX Emerald

24,227,761

26,271,682

-7.8 %

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24,678,390

-1.8 %

275,343,291

289,933,984

-5.0 %

Multi-Listed Options ADV

Nov-23

Nov-22

% Chg

Oct-23

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% Chg

Nov-23

Nov-22

% Chg

U.S. Equity Options Industry

39,016,815

40,444,224

-3.5 %

40,053,980

-2.6 %

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40,263,903

38,269,175

5.2 %

MIAX Exchange Group

5,754,656

5,481,372

5.0 %

5,831,165

-1.3 %

6,342,283

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5,145,763

23.3 %

MIAX Options

2,306,448

2,439,010

-5.4 %

2,284,126

1.0 %

2,533,154

2,179,155

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16.2 %

MIAX Pearl

2,294,505

1,791,329

28.1 %

2,425,294

-5.4 %

2,611,983

1,706,025

53.1 %

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MIAX Emerald

1,153,703

1,251,032

-7.8 %

1,121,745

2.8 %

1,197,145

1,260,583

-5.0 %

Multi-Listed Options Market Share for

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MIAX Exchange Group, Current Month

Year-to-Date Comparison

Multi-Listed Options Market

Share

Nov-23

Nov-22

% Chg

Oct-23

% Chg

Nov-23

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Nov-22

% Chg

MIAX Exchange Group

14.75 %

13.55 %

8.8 %

14.56 %

1.3 %

15.75 %

13.45 %

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17.1 %

MIAX Options

5.91 %

6.03 %

-2.0 %

5.70 %

3.7 %

6.29 %

5.69 %

10.5 %

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MIAX Pearl

5.88 %

4.43 %

32.8 %

6.06 %

-2.9 %

6.49 %

4.46 %

45.5 %

MIAX Emerald

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2.96 %

3.09 %

-4.4 %

2.80 %

5.6 %

2.97 %

3.29 %

-9.7 %

 

Equities Trading Volume for

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MIAX Pearl Equities, Current Month

Year-to-Date Comparison

Equities Shares (millions)

Nov-23

Nov-22

% Chg

Oct-23

% Chg

Nov-23

Nov-22

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% Chg

Trading Days

21

21

22

230

230

U.S. Equities Industry

221,781

236,072

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-6.1 %

234,073

-5.3 %

2,510,615

2,753,705

-8.8 %

MIAX Pearl Volume

4,609

2,595

77.6 %

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5,562

-17.1 %

42,548

27,406

55.2 %

MIAX Pearl ADV

219

124

77.6 %

253

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-13.2 %

185

119

55.2 %

MIAX Pearl Market Share

2.08 %

1.10 %

89.0 %

2.38 %

-12.5 %

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1.69 %

1.00 %

70.3 %

 

Futures & Options Trading Volume and Open

Interest for MGEX, Current Month

Year-to-Date Comparison

Futures Contracts

Nov-23

Nov-22

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% Chg

Oct-23

% Chg

Nov-23

Nov-22

% Chg

Trading Days

21

21

22

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230

230

MGEX Total

328,252

235,460

39.4 %

238,404

37.7 %

2,758,179

3,130,896

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-11.9 %

Hard Red Spring Wheat – Futures

319,559

197,433

61.8 %

221,592

44.2 %

2,451,456

2,313,580

6.0 %

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Hard Red Spring Wheat – Options

5,704

3,935

45.5 %

3,560

60.2 %

71,392

65,181

9.5 %

SPIKES Volatility Index – Futures

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2,989

34,092

-91.3 %

13,252

-77.4 %

235,331

752,135

-68.7 %

Average Daily Volume

Nov-23

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Nov-22

% Chg

Oct-23

% Chg

Nov-23

Nov-22

% Chg

MGEX Total

15,631

11,212

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39.4 %

10,837

44.2 %

11,992

13,613

-11.9 %

Hard Red Spring Wheat – Futures

15,217

9,402

61.8 %

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10,072

51.1 %

10,659

10,059

6.0 %

Hard Red Spring Wheat – Options

272

187

45.5 %

162

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67.9 %

310

283

9.5 %

SPIKES Volatility Index – Futures

142

1,623

-91.3 %

602

-76.4 %

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1,023

3,270

-68.7 %

Open Interest

Nov-23

Nov-22

% Chg

Oct-23

% Chg

MGEX Total

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68,716

47,695

44.1 %

88,132

-22.0 %

Hard Red Spring Wheat – Futures

62,620

43,648

43.5 %

78,416

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-20.1 %

Hard Red Spring Wheat – Options

5,988

3,591

66.8 %

9,186

-34.8 %

SPIKES Volatility Index – Futures

108

456

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-76.3 %

530

-79.6 %

 

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™), 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 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. 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.

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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. 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.mgex.com.

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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Renaissance Philanthropy and XTX Markets launch new $9 million AI for Math Fund

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Fund aims to support new projects building AI tools to accelerate breakthrough discoveries in mathematics

WASHINGTON and LONDON, Dec. 5, 2024 /PRNewswire/ — Renaissance Philanthropy and XTX Markets today announced the launch of the AI for Math Fund. The fund will commit $9.2 million to support the development of new AI tools, which will serve as long-term building blocks to advance mathematics.

An increasing number of researchers, including some of the world’s leading mathematicians, are embracing AI to push the boundaries of mathematical discovery and learning. The AI for Math Fund will support projects that expand the use of leading AI technology by mathematicians globally.

Alex Gerko, Founder and co-CEO, XTX Markets said, “The fund will support this critical intersection between AI and math. Working in partnership with Renaissance Philanthropy, we want to give mathematicians the tools they need to advance the field. As AI continues to transform other sciences, we believe that mathematics will be next.”

Renaissance Philanthropy and XTX Markets are inviting proposals for innovative projects led by researchers, non-profits, companies, mathematicians, software engineers and computer scientists that are unlikely to occur under business-as-usual conditions. Click here to submit an application.

Proposals should be aligned with one of the following categories:

  • Production grade software tools: AI for auto-formalization, proof generation, synthesis of verifiable code, and more
  • Datasets: Open-source collections of theorems, proofs, and math problems
  • Field building: Textbooks, courses, and resources to grow the AI-for-math community
  • Breakthrough ideas: High-risk, high-reward approaches to AI-driven math research

XTX Markets is the founding donor of the AI for Math Fund.

“We are excited to partner with XTX Markets on this important initiative,” said Tom Kalil, CEO of Renaissance Philanthropy. “The convergence of AI and math has the potential to advance fundamental mathematics, the reasoning capability of AI systems, and the synthesis of verifiable code.”

Following a rigorous assessment of the proposals, individual grants of up to $1 million will be awarded for projects lasting up to 24 months.

Terence Tao, UCLA, Fields Medalist and AI for Math Fund advisor said, “The next generation of AI models and tools have the potential to enhance collaboration among mathematicians that was previously impossible. I am delighted to work with Renaissance Philanthropy and XTX Markets to realize this potential through the AI for Math Fund.”

About Renaissance Philanthropy

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Renaissance Philanthropy is a nonprofit organization with a mission to fuel a 21st century renaissance by increasing the ambition of philanthropists, scientists, and innovators. We do this by advising philanthropists, surfacing breakthrough ideas, and incubating ambitious initiatives.

About XTX Markets

XTX Markets is a leading algorithmic trading firm which uses state-of-the-art machine learning technology to produce price forecasts for over 50,000 financial instruments across equities, fixed income, currencies, commodities and crypto. It uses those forecasts to trade on exchanges and alternative trading venues, and to offer differentiated liquidity directly to clients worldwide. The firm trades over $250bn a day across 35 countries and has over 250 employees based in London, Singapore, New York, Paris, Bristol, Mumbai and Yerevan.

XTX Markets has an unrivalled level of computational resources in the trading industry, with a growing research cluster currently containing over 25,000 GPUs with 650 petabytes of usable storage. Teams across the firm include world-class researchers with backgrounds in pure math, programming, physics, computer science and machine learning. The firm is also constructing a large-scale data centre in Finland to future-proof its significant computational capabilities. 

Since 2017, XTX Markets has committed over £250 million to charities and non-profit partners, establishing the firm as a major philanthropic donor in the UK and globally. The firm’s philanthropy focuses on advancing mathematics education and research, having committed over £50 million in grants to UK charities and education institutions, with the aim of supporting more students to progress to degrees, PhDs and highly-skilled careers in maths, especially those from low-income backgrounds. XTX Markets has also committed more than £25 million to support elite mathematics talent worldwide. More broadly, the firm’s giving also supports high-impact education programmes in low- and middle-income countries, humanitarian relief and local community initiatives in the regions where our offices are located internationally.

 

 

 

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Mambu acquires payment technology provider Numeral, bolstering its market position to target new growth opportunities

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  • The acquisition marks a strategic move by the cloud banking leader to extend its payment capabilities for customers, as Mambu eyes market expansion and accelerated growth in support of long-term plans.
  • Numeral’s platform will be integrated into Mambu’s core banking offerings, with advanced payment solutions technology, to accelerate and advance the next generation of financial products.

AMSTERDAM, Dec. 5, 2024 /PRNewswire/ — Mambu, a leading cloud banking platform, has announced the acquisition of Numeral, a French payment technology provider for banks and fintechs.

The acquisition strengthens Mambu’s position as an industry leader, in a move that underscores market confidence and growing demand for modern financial experiences. The addition of advanced payment capabilities represents a significant investment in the next phase of Mambu’s growth as an established market player.

With Numeral’s platform, Mambu is set to drive new value from wider audience segments that will increase its overall share of the market. It also offers a unique strategic fit to the foundation of the cloud banking leader’s long-term expansion efforts.

“This acquisition marks a considered move to deliver a more modern, comprehensive payment offering which is now an integrated part of Mambu’s product portfolio. Numeral’s advanced payments platform will enable us to address changing customer demands, strengthen existing product lines and expand our market reach, while offering businesses advanced capabilities to meet an extensive range of needs.” – Fernando Zandona, CEO at Mambu.

Speaking about why Numeral was the ‘right fit’ for Mambu, Zandona added: “Numeral’s values, proven agility, and robust onboarding processes match perfectly with our growth mindset as a business. We look forward to welcoming their talented team as we unlock new growth opportunities together.”

Founded in 2021, Numeral is a fast-growing payment technology provider that offers financial institutions a universal gateway to connect to partner banks and access schemes and a modern payments hub to automate payment processing. The Paris-based firm processes more than €10 billion in payments annually and has established a strong presence in Europe, having expanded its operations to the UK last year.

The size of the market opportunity for bank payments is striking. In 2022, the value of bank payments in the Eurozone stood at €191 trillion, that is 58x more than card payments (€3.3 trillion). This vast global market is transforming rapidly, driven by the rise of instant payments as a catalyst for modernising core banking and payment platforms. With its robust bank integrations, a modular API and modern dashboard, Numeral’s platform will enable Mambu to capitalise on this market opportunity. 

The cloud banking platform will also benefit from Numeral’s roster of partnerships with some of Europe’s leading banks, including BNP Paribas, Barclays, HSBC, and ABN AMRO.

“Payments are at the heart of how companies do business around the world, yet they remain trapped in systems designed decades ago, unfit for the ongoing instant payments revolution,” said Numeral co-founder and CEO, Édouard Mandon. “This is a problem that Mambu intimately understands having helped banks and financial institutions worldwide to migrate from rigid, traditional core systems to agile and adaptable cloud infrastructure. Bringing together our dedicated payments technology with Mambu’s leading cloud banking platform and global customer base, we can enable more companies to make their payments future-proof and ever-compliant while eliminating hidden payment complexity at scale.”

The integration of Mambu and Numeral’s advanced payment platform will enable banks, fintechs, and non-financial service firms to seamlessly manage end-to-end payment workflows, support multiple payment methods, and provide real-time transaction capabilities. This will drive greater operational efficiency, improved customer experiences, and accelerated time-to-market for innovative financial solutions.

Mambu will gain the flexibility to offer an even more sophisticated, readily-available set of payment capabilities. New and not-yet-live customers can take advantage of this from day one, while customers that already have a payment solution in place will have the option to upgrade.

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Notes to editors

About Mambu

Mambu is the world’s only true SaaS cloud banking platform. Launched in 2011, Mambu fast-tracks the design and build of nearly any type of financial offering for banks of all sizes, lenders, fintechs, retailers, telcos and more. Our unique composable approach means that independent components, systems and connectors can be assembled in any configuration to meet business needs and end user demands. Mambu supports over 260 customers in over 65 countries – including Western Union, Commonwealth Bank of Australia, N26, BancoEstado, Raiffeisen Bank, ABN AMRO, and Bank Islam. www.mambu.com 

About Numeral

Numeral is a payment technology provider that offers financial institutions a universal gateway to connect to partner banks and access schemes and a modern payments hub to automate payment processing. Numeral enables fintechs and banks to unlock growth by launching new products and expanding geographically faster, eliminating hidden payment complexity and making their payments future-proof and ever-compliant. Launched in 2021, Numeral provides the payment infrastructure for the most innovative European banks and fintechs like WorldFirst, Argentex and Alma and partners with Europe’s leading banks, including BNP Paribas, Barclays, BPCE, HSBC and LHV.

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Jeff McLean Named CEO of ghSMART, Continuing Legacy of Leadership Excellence

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CHICAGO, Dec. 5, 2024 /PRNewswire/ — G.H. Smart & Company, LLC, the world’s premier leadership advisory firm, proudly announces the appointment of Jeff McLean as Chief Executive Officer. McLean, President of ghSMART for the past three years, steps into the newly created role to lead the firm’s next phase of growth and innovation.

Under McLean’s leadership as President, ghSMART secured 14 #1 rankings in Vault’s “Best Consulting Firms to Work For” and achieved 100% client satisfaction, solidifying its reputation as the most trusted advisor to CEOs, boards, and investors worldwide. As CEO, McLean aims to further advance ghSMART’s mission to help leaders build valuable companies through expertise in business and human behavior.

Founder and Chairman Geoff Smart shared his confidence in McLean’s leadership: “Jeff’s track record was remarkable even before joining ghSMART—Fulbright and Truman Scholar, Navy Fighter Pilot and Test Pilot, White House Fellow. As President, he surpassed our firm’s goals, demonstrated unwavering dedication to our team and clients, exemplifying our credo to help leaders amplify their positive impact on the world.  I am excited to see his leadership flourish as CEO. Jeff is the definition of a servant leader and embodies the values that make ghSMART extraordinary.”

McLean shared his enthusiasm for this new chapter: “It is an honor to lead ghSMART as CEO. Our work profoundly impacts the world by empowering the most influential leaders to achieve extraordinary results. I am deeply inspired every day by the incredibly talented people on our team, and I’m grateful for the trust placed in me. Together, we will continue to set the standard for excellence in high-stakes leadership advisory.”

This leadership elevation comes as ghSMART continues to expand its global presence and investment in digital solutions, driven by increasing demand for its advisory services. With McLean at the helm, the firm is poised to deepen its influence in shaping the future of leadership.

About ghSMART

ghSMART is the trusted advisor to CEOs, boards, and investors on leadership strategies that drive performance and transformation. Combining rigorous assessments with analytics, ghSMART supports its clients in building exceptional teams and achieving their most ambitious goals. Founded on the belief that leadership is the most powerful force for good, ghSMART remains a pioneer in leadership advisory, with a legacy of bestselling books and industry accolades. For more information, visit www.ghsmart.com.

Media Contact:
Jennifer Watkins
[email protected]

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