Miami International Holdings Launches Next-Generation Options Trading Floor in Miami

Rhea-AI Summary

Miami International Holdings (NYSE: MIAX) has launched MIAX Sapphire®, Miami's first options trading floor and only the second open outcry trading floor to launch in the last 50 years. The 38,400-square-foot facility is located in Miami's Wynwood district and features a state-of-the-art trading floor, office space, conference facilities, and a Bloomberg TV broadcast studio.

MIAX Sapphire represents the company's fourth national securities exchange for U.S. multi-listed options, operating both an electronic exchange launched in August 2024 and the physical trading floor. The facility is designed to support complex options trading needs with proprietary technology focused on maximizing liquidity and enhancing price discovery.

Positive

• First national securities exchange trading floor in Miami, strengthening city's position as 'Wall Street South'
• Expansion allows access to 100% of multi-listed options market
• State-of-the-art 38,400-square-foot facility with modern technology and amenities
• Strategic location in Miami offers tax advantages and growing financial talent pool

Negative

• None.

Insights

Financial Markets Analyst

MIAX's new Miami trading floor expands market coverage to 100% of multi-listed options, strengthening its competitive position in derivatives markets.

The launch of MIAX Sapphire represents a strategic expansion of Miami International Holdings' market infrastructure that significantly enhances its competitive positioning. This development enables MIAX to offer complete coverage of the multi-listed options market, eliminating a key competitive disadvantage relative to larger exchanges. The 38,400-square-foot facility marks only the second open outcry trading floor launch in five decades, highlighting its rarity and potential significance within the options trading ecosystem.

MIAX is executing a well-timed geographic strategy by establishing Miami's first trading floor. The company is capitalizing on the city's emergence as a financial hub, driven by tax advantages and an expanding talent pool of financial professionals. This positions MIAX to benefit from the ongoing migration of financial services to Florida while strengthening its physical presence in its namesake city.

The technology focus of this expansion aligns with MIAX's core value proposition as a technology-driven market operator. By designing the floor to automate traditionally manual processes while preserving the benefits of open outcry trading, MIAX is addressing a specific market need for more efficient price discovery in complex options strategies. This hybrid approach could potentially capture trading volume that benefits from human intermediation while still leveraging the company's technological capabilities that have defined its electronic markets.

MIAMI and PRINCETON, N.J., Sept. 16, 2025 /PRNewswire/ -- Miami International Holdings, Inc. (MIAX^®) (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced the successful launch of the MIAX Sapphire^® options trading floor in Miami, Florida.

"The launch of the new MIAX Sapphire trading floor is a pivotal milestone for MIAX, as we are now able to offer our market participants access to 100% of the multi-listed options market," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. "Miami is quickly emerging as a major global financial center as a result of its business climate, favorable tax advantages and an expanding talent pool of financial services professionals.  Launching the city's first trading floor reinforces Miami's growing reputation as Wall Street South and greatly expands our presence in our namesake city."

MIAX Sapphire is the first national securities exchange to open a trading floor in Miami and only the second open outcry trading floor to launch in the last 50 years. The 38,400-square-foot facility spans the ninth floor of the 545 Wyn building in Miami's Wynwood district, with panoramic views of the city's skyline. Its features include a state-of-the-art trading floor, office space, conference facilities and a Bloomberg TV broadcast studio. The trading floor was designed with special attention to sound quality, lighting, sight lines and ensuring the optimal layout for market participants.

"We worked closely with our member firms to build a modern trading floor meticulously designed to support the complex needs of the U.S. options industry," said Douglas M. Schafer, Executive Vice President and Chief Information Officer at MIAX. "MIAX Sapphire is powered by our signature, proprietary technology intended to maximize liquidity and enhance price discovery, while automating many of the manual processes inherent in legacy exchanges to increase efficiency."

MIAX Sapphire is MIAX's fourth national securities exchange for U.S. multi-listed options and operates both an electronic exchange that launched in August 2024 as well as the physical trading floor.

About MIAX
Miami International Holdings, Inc. (NYSE: MIAX) is a technology-driven leader in building and operating regulated financial markets across multiple asset classes and geographies. MIAX operates nine exchanges across options, futures, equities and international markets including MIAX® Options, MIAX Pearl®, MIAX Emerald®, MIAX Sapphire^®, MIAX Pearl Equities™, MIAX Futures™, MIAXdx™, The Bermuda Stock Exchange (BSX) and The International Stock Exchange (TISE). MIAX also owns Dorman Trading, a full-service Futures Commission Merchant. To learn more about MIAX please visit www.miaxglobal.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements
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 based on management's current expectations and 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. Additional risks and uncertainties that may cause actual results to differ materially include the risks and uncertainties listed in Miami International Holdings, Inc.'s (together with its subsidiaries, the Company) public filings with the Securities and Exchange Commission. In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise.

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
anybo@miaxglobal.com

 

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SOURCE MIAX

FAQ

What is MIAX Sapphire and when did it launch?

MIAX Sapphire is Miami's first options trading floor, launched by Miami International Holdings (NYSE: MIAX) in September 2025. It's the second open outcry trading floor to launch in the last 50 years.

Where is the MIAX Sapphire trading floor located?

The MIAX Sapphire trading floor is located in the 545 Wyn building in Miami's Wynwood district, occupying 38,400 square feet on the ninth floor with panoramic views of the city's skyline.

What features does the MIAX Sapphire facility include?

The facility includes a state-of-the-art trading floor, office space, conference facilities, and a Bloomberg TV broadcast studio. It's designed with special attention to sound quality, lighting, and sight lines.

How many national securities exchanges does MIAX now operate?

MIAX Sapphire is MIAX's fourth national securities exchange for U.S. multi-listed options, operating both an electronic exchange (launched August 2024) and the physical trading floor.

What advantages does the Miami location offer for MIAX Sapphire?

Miami offers several advantages including a favorable business climate, tax advantages, and an expanding pool of financial services professionals, contributing to its emergence as 'Wall Street South'.