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Miami International Holdings Reports Trading Results for February 2024; MIAX Exchange Group YTD Options and Equities Volumes at Record Levels while MGEX Futures Volume Surges 30.3%

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PRINCETON, N.J., March 7, 2024 /PRNewswire/ — Miami International Holdings, Inc. (MIH) today reported February 2024 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX™).

February 2024 and Year-to-Date Trading Volume and Market Share Highlights

  • Total multi-listed options volume for the MIAX Exchange Group reached a monthly total of 145.3 million contracts, a 6.0% increase year-over-year (YoY) and representing an increase of 3.4% from January 2024. February 2024 market share reached 16.34%, a 2.7% decrease YoY. Total year-to-date (YTD) volume reached a record 285.8 million contracts, a 4.8% increase from the same period in 2023.
  • MIAX Options reached a monthly volume of 58.3 million contracts, a 6.3% increase YoY and a 2.6% increase from January 2024. February 2024 market share reached 6.56%, a 2.4% decrease YoY. Total YTD volume reached a record 115.2 million contracts, a 4.9% increase from the same period in 2023.
  • MIAX Emerald Options reached a monthly volume of 33.6 million contracts, a 22.7% increase YoY and a 6.0% increase from January 2024. February 2024 market share reached 3.78%, a 12.7% increase YoY.
  • In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 4.1 billion shares, a 48.1% increase YoY and representing a market share of 1.73%, a 36.7% increase YoY. Total YTD volume reached a record 8.7 billion shares, a 73.8% increase from the same period in 2023.
  • In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 329,921 contracts, a 30.3% increase YoY and representing a 49.9% increase from January 2024.

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

Feb-24

Feb-23

% Chg

Jan-24

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% Chg

Feb-24

Feb-23

% Chg

Trading Days

20

19

21

41

39

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U.S. Equity Options Industry

888,779,369

816,156,925

8.9 %

891,961,535

-0.4 %

1,780,740,904

1,667,456,224

6.8 %

MIAX Exchange Group

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145,254,160

137,080,466

6.0 %

140,525,814

3.4 %

285,779,974

272,642,891

4.8 %

MIAX Options

58,313,579

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54,863,604

6.3 %

56,855,169

2.6 %

115,168,748

109,832,501

4.9 %

MIAX Pearl

53,312,809

54,820,051

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-2.7 %

51,931,661

2.7 %

105,244,470

112,106,488

-6.1 %

MIAX Emerald

33,627,772

27,396,811

22.7 %

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31,738,984

6.0 %

65,366,756

50,703,902

28.9 %

Multi-Listed Options ADV

Feb-24

Feb-23

% Chg

Jan-24

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% Chg

Feb-24

Feb-23

% Chg

U.S. Equity Options Industry

44,438,968

42,955,628

3.5 %

42,474,359

4.6 %

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43,432,705

42,755,288

1.6 %

MIAX Exchange Group

7,262,708

7,214,761

0.7 %

6,691,705

8.5 %

6,970,243

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6,990,843

-0.3 %

MIAX Options

2,915,679

2,887,558

1.0 %

2,707,389

7.7 %

2,808,994

2,816,218

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-0.3 %

MIAX Pearl

2,665,640

2,885,266

-7.6 %

2,472,936

7.8 %

2,566,938

2,874,525

-10.7 %

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MIAX Emerald

1,681,389

1,441,937

16.6 %

1,511,380

11.2 %

1,594,311

1,300,100

22.6 %

Multi-Listed Options Market Share for

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MIAX Exchange Group, Current Month

Year-to-Date Comparison

Multi-Listed Options Market
Share

Feb-24

Feb-23

% Chg

Jan-24

% Chg

Feb-24

Feb-23

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% Chg

MIAX Exchange Group

16.34 %

16.80 %

-2.7 %

15.75 %

3.7 %

16.05 %

16.35 %

-1.8 %

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MIAX Options

6.56 %

6.72 %

-2.4 %

6.37 %

2.9 %

6.47 %

6.59 %

-1.8 %

MIAX Pearl

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6.00 %

6.72 %

-10.7 %

5.82 %

3.0 %

5.91 %

6.72 %

-12.1 %

MIAX Emerald

3.78 %

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3.36 %

12.7 %

3.56 %

6.3 %

3.67 %

3.04 %

20.7 %

 

Equities Trading Volume for

MIAX Pearl Equities, Current Month

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Year-to-Date Comparison

Equities Shares (millions)

Feb-24

Feb-23

% Chg

Jan-24

% Chg

Feb-24

Feb-23

% Chg

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Trading Days

20

19

21

41

39

U.S. Equities Industry

234,704

216,694

8.3 %

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242,622

-3.3 %

477,325

443,244

7.7 %

MIAX Pearl Volume

4,062

2,743

48.1 %

4,604

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-11.8 %

8,667

4,986

73.8 %

MIAX Pearl ADV

203

144

40.7 %

219

-7.4 %

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211

128

65.3 %

MIAX Pearl Market Share

1.73 %

1.27 %

36.7 %

1.90 %

-8.8 %

1.82 %

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1.12 %

61.4 %

 

Futures & Options Trading Volume and Open
Interest for MGEX, Current Month

Year-to-Date Comparison

Futures Contracts

Feb-24

Feb-23

% Chg

Jan-24

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% Chg

Feb-24

Feb-23

% Chg

Trading Days

20

19

21

41

39

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MGEX Total

329,921

253,274

30.3 %

220,026

49.9 %

549,947

418,874

31.3 %

MGEX Average Daily Volume

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16,496

13,330

23.7 %

10,477

57.4 %

13,413

10,740

24.9 %

MGEX Open Interest

71,095

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57,070

24.6 %

80,674

-11.9 %

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 SapphireTM), 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.

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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.

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

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BingX Joins NBX 2025 as a Gold Sponsor: Empowering Blockchain Innovation

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PANAMA CITY, March 15, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce its participation as a Gold Sponsor at the 5th edition of Next Block Expo (NBX), scheduled for March 19-20, 2025, at Multikino Złote Tarasy in Warsaw, Poland. As one of Europe’s premier Web3 events, NBX 2025 is expected to attract over 2,000 attendees, making it a key platform for blockchain innovation and collaboration.

NBX serves as a dynamic hub for industry leaders, startups, investors, and developers, fostering knowledge-sharing and networking opportunities to drive the future of blockchain. As a firm advocate for Web3 advancements, BingX will showcase its ongoing commitment to innovation through an interactive booth, featuring engaging activities, expert insights, and exclusive giveaways. Attendees will gain firsthand knowledge of how BingX supports high-potential blockchain projects with financial backing, technical expertise, and strategic growth consultations.

In addition to its sponsorship, Vivien Lin, Chief Product Officer of BingX, will be a key speaker at NBX 2025, contributing to discussions on strategic trading approaches, risk management, and the evolving landscape of blockchain investments. She will also deliver a keynote speech exploring BingX’s vision for blockchain innovation and how the company translates emerging technologies into real-world applications.

“At BingX, we believe that true innovation comes from bold ideas and strategic execution,” said Lin. “Sponsoring NBX 2025 is more than just a presence for us — it’s a commitment to fostering a thriving blockchain ecosystem. We are here to connect with visionaries, provide the resources they need, and help shape the future of decentralized technology. By empowering builders and innovators, we’re not just supporting projects — we are accelerating the evolution of Web3 itself.”

BingX’s participation at NBX 2025 underscores its long-term vision of driving blockchain innovation and supporting the next generation of industry leaders. As BingX continues to expand its global footprint, initiatives like this sponsorship reinforce its role as a catalyst for growth in crypto space. By engaging with emerging projects, thought leaders, and investors, BingX remains at the forefront of Web3 advancements, bridging the gap between groundbreaking ideas and real-world impact.

About BingX 

Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/

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Great Bay Insurance Group announces executive changes

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WEST ATLANTIC CITY, N.J., March 14, 2025 /PRNewswire/ — The Great Bay Insurance Group (the “Group”), a leading provider of coastal homeowners’ insurance in New Jersey, today announced the following leadership changes. Timothy J. Byrne, Jr., has been named as President of the Group and Ronald R. Lovatt has been named President of Great Bay Insurance Company, a wholly owned affiliate of the Group.

Mr. Byrne Jr. has nearly 15 years of industry experience and previously served as the Group’s Chief Operating Officer overseeing the Groups operations and underwriting strategies. 

Mr. Timothy J. Byrne, Sr., Chief Executive Officer of the Group, added, “I’m excited to announce the promotion of Tim Jr. to the role of President of The Great Bay Insurance Group and Ron to the role of President of Great Bay Insurance Company. Tim Jr. and Ron have been an integral part of the Group since its founding in 2019.”

As President, Tim Jr. will provide oversight for all corporate support functions and will continue to report to Tim Sr. 

Mr. Byrne Jr. holds a BS in Economic and Mathematics from the University of Vermont, an MBA in Risk Management and Insurance from St. John’s University and holds a CPCU designation.

Mr. Lovatt has 40 years of broad insurance industry experience in leadership capacities with international, national, regional and start-up insurance companies. Ron is a founding member of The Great Bay Insurance Group, working with Tim Sr. & Tim Jr. to launch Great Bay in late 2019. Ron currently serves as Chief Underwriting Officer & Chief Claims Officer for The Great Bay Insurance Group, has an MBA from The Wharton School of the University of Pennsylvania, and a Bachelor of Science degree in Economics, Finance, Accounting & Marketing from Miami University.

Contact:
Investor Relations
Brian Schleider, CPA
Chief Financial Officer
609-434-2000, x102

[email protected]

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Forward Global responds to surge in UK shareholder activism with launch of UK Corporate Contests Practice

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LONDON, March 14, 2025 /PRNewswire/ — International risk management firm Forward Global launched its UK Corporate Contests Practice on Tuesday in response to what is described as “all-time high of shareholder activism” in London and Paris. 

Speaking ahead of the launch on Tuesday night, Brendan Foo, Partner and Global Head of Corporate Contests at Forward Global, said “As activism gains currency as an asset class, savvy investors are looking toward the UK and Europe to generate alpha. Indeed, in 2025 alone, we have seen an unprecedented demand for our services not just in our traditional strongholds of the US and Canada, but also in the UK and Europe. This reflects the surge in activist (and active) engagements, with which our team is uniquely well-placed to assist.”

Forward Global’s Corporate Contests Practice was established to meet demand from law firms, investors, and advisers to provide a comprehensive suite of services to support companies in high-stakes shareholder engagements. In keeping with the firm’s established activism practice in the US, the new London offering will deliver investigative and intelligence work such as vetting board nominees, relationship mapping, scrutinizing the track records of both incumbents and challengers, and conducting deep-dive reputation analyses. In Europe, Forward Global’s Patrice Lambert-de Diesbach offers clients battle-tested expertise in investor relations and financial communications.

Shareholder activism in the UK has expanded significantly, with campaigns becoming more frequent and sophisticated. In 2023, the number of new public activist campaigns in Europe surged by 68%, with the UK remaining a primary target. US-based activist investors have also increased their focus on UK firms, launching 40% of all UK activist campaigns in 2024. With contested boardroom battles and regulatory shifts on the rise, the expansion of Forward Global’s Corporate Contests practice into the UK is well-timed, equipping issuers with the intelligence and strategies needed to navigate this evolving landscape.

The firm launched the new practice at an exclusive gathering at the International Institute of Strategic Studies in London, bringing together leading voices from the shareholder activism space to discuss the evolving landscape of transatlantic shareholder activism.

The panel discussion, featuring Brendan Foo, Patrick J. McHugh of Okapi Partners, and Sebastian Fain of Freshfields, explored critical considerations for US investors entering the UK market and vice versa, differences in engagement styles across jurisdictions, and strategies for issuers to proactively engage with both activist and active investors. Panelists also examined the impact of anti-DEI and ESG sentiment on investor relations in the UK, as well as how issuers can adapt to evolving regulatory and institutional expectations.

John Watts, Managing Partner of Forward Global UK, added, “Forward Global’s new UK Corporate Contests Practice is designed to provide companies with the strategic intelligence and investigative depth needed to navigate an increasingly complex activist landscape. Our team is committed to equipping clients with the tools to engage proactively with investors, safeguard their strategic interests, and strengthen shareholder relations across Europe.”

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Notes for Editors

Forward Global is an international group, with its historic headquarters in France, boasting five main offices in Paris, Brussels, London, Miami, and Washington. As a leading player in risk management with over 450 employees and 30 partners, Forward Global offers an integrated approach across the three major risks: digital, economic, and informational.

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