Miami Intl Hldg Stock Price, News & Analysis

Miami International Holdings (NYSE: MIAX) subsidiary The International Stock Exchange (TISE) signed a Memorandum of Understanding with Boursa Kuwait on Dec 23, 2025 to explore cooperation on specialized listings, product innovation and Middle East investment channels. The MoU emphasizes technical and knowledge exchange, collaboration on new financial products, and support for sustainable finance initiatives.

The agreement follows regulatory cooperation steps between Guernsey and Kuwait in August 2025 and aims to promote market integration and connect global investors with opportunities in Kuwait and the region.

Miami International Holdings (NYSE: MIAX) announced the closing of a secondary public offering of 7,762,500 shares of common stock at a public offering price of $41.00 per share on December 16, 2025.

The amount includes 1,012,500 shares sold pursuant to the underwriters' exercise in full of their option to purchase additional shares. The offering consisted entirely of secondary shares, including shares issued upon exercise of warrants by certain selling stockholders; the company did not sell any shares and received no proceeds. J.P. Morgan, Morgan Stanley and Piper Sandler led the offering. A registration statement was declared effective on December 11, 2025.

Miami International Holdings (NYSE: MIAX) priced a secondary public offering of 6,750,000 common shares at $41.00 per share, comprised entirely of secondary shares (including shares from warrant exercises).

The offering is expected to close on December 15, 2025, subject to customary closing conditions, and underwriters have a 30-day option to buy up to an additional 1,012,500 shares. The company said it is not selling shares and will receive no proceeds from the offering. J.P. Morgan, Morgan Stanley and Piper Sandler acted as lead joint bookrunning managers.

Miami International Holdings (NYSE: MIAX) announced a proposed secondary public offering of 6,750,000 shares of common stock, including certain shares issuable on warrant exercise. The offering is entirely secondary; the company is not selling shares and will not receive proceeds. Underwriters have a 30-day option to buy up to an additional 1,012,500 shares. A registration statement on Form S-1 has been filed with the SEC but is not yet effective, and shares may not be sold prior to effectiveness. The offering will be made only by prospectus available via the SEC EDGAR site.

Miami International Holdings (NYSE: MIAX) reported November 2025 trading results for MIAX exchange subsidiaries and MIAX Futures. Key year-to-date metrics include a record 17.1% market share for the MIAX Exchange Group through November 2025 (a +14.0% increase vs. 2024) and a record YTD ADV of 9.6 million contracts for the MIAX Exchange Group (+45.0% YoY). MIAX Futures posted a record YTD ADV of 13,772 contracts through November 2025 (+6.4% YoY). November monthly figures include MIAX Exchange Group options ADV of 10.915 million contracts (+33.9% YoY) and MIAX Pearl equities ADV of 181 million shares (-3.9% YoY). Detailed tables and rolling RPC data are available on the company's investor website.

Miami International Holdings (MIAX) announced an agreement to sell 90% of MIAX Derivatives Exchange (MIAXdx) to Robinhood Markets (HOOD) in partnership with Susquehanna International Group while MIAX will retain a 10% equity stake. MIAXdx is a CFTC‑approved Designated Contract Market and Derivatives Clearing Organization that lists and clears fully collateralized futures, options on futures and swaps.

The transaction is expected to close in Q1 2026 and is subject to customary closing conditions and certain CFTC filings. MIAX said the retained stake will provide expedited access to prediction markets and create strategic partnership opportunities with Robinhood and Susquehanna.

Vermiculus Financial Technology deployed a real-time risk management suite for MIAX Futures (NYSE: MIAX) on Nov. 20, 2025, integrating with the exchange's VeriClear-based clearing platform.

The modular, cloud-based microservices provide real-time collateral valuation, collateral reconciliation, continuous risk monitoring, stress testing, portfolio and contract backtesting, parallel risk-model support, and the ability to re-run historical risk runs. The rollout used agile phases with new functionality released to production every two months while the legacy system remained as a reference before decommissioning.

Miami International Holdings (NYSE: MIAX) announced expanded roles for Shelly Brown and Joseph W. Ferraro III, effective November 10, 2025, to support MIAX Futures strategic growth initiatives.

Shelly Brown was appointed Chief Executive Officer of MIAX Futures and Chief Strategy Officer of Miami International Holdings; he will oversee growth and the planned launch of futures on the Bloomberg 500 Index in Q1 2026, subject to Commodity Futures Trading Commission filings. Brown has been with the company since 2011 and helped the options business reach a 19.4% monthly market share in October.

Joseph Ferraro was appointed President of MIAX Products, LLC, while retaining his role as Senior Vice President, Deputy General Counsel; he will manage index product relationships and expand proprietary offerings, building on prior work including the 2020 MIAX Futures acquisition, an exclusive Bloomberg licensing agreement, and the Onyx platform launch.

Miami International Holdings (NYSE:MIAX) reported third quarter 2025 results with net revenue of $109.5M, up 57% YoY, driven by options volume and the MIAX Sapphire exchange. The company reported a GAAP net loss of $102.1M and GAAP diluted EPS of $(1.46), which management attributed to a one-time loss on extinguishment of debt and IPO-related expenses.

Adjusted EBITDA was $48.0M (margin 44%), up 157% YoY, and adjusted earnings rose to $39.9M. Average daily options volume reached 9.6M contracts (+56% YoY) and MIAX options market share hit 17.2%. The company raised $396.8M gross in its August 2025 IPO, repaid ~$178.4M of secured debt, and held $401.5M cash with total debt of $6.5M as of September 30, 2025.