Miami International Holdings Reports Trading Results for February 2026
Rhea-AI Summary
Miami International Holdings (NYSE: MIAX) reported February 2026 trading results for its MIAX exchange group and MIAX Futures. MIAX Exchange Group ADV rose to 10.8 million contracts, a 25.4% YoY increase, and market share reached 17.1%. MIAX Futures ADV was 14,944 contracts, up 103.1% vs Jan 2026 but down 38.5% YoY.
Additional segment-level ADV and market share details, plus rolling three-month revenue-per-contract metrics, are available on the company website.
Positive
- MIAX Exchange Group ADV +25.4% YoY to 10.8M contracts
- MIAX Futures ADV +103.1% month-over-month to 14,944 contracts
- MIAX Exchange Group market share at 17.1%
Negative
- MIAX Futures ADV -38.5% YoY (Feb-26 vs Feb-25)
- MIAX Pearl market share -15.9% YoY
Key Figures
Market Reality Check
Peers on Argus
MIAX fell 1.98% while peers were mixed: CLSK -2.8%, HUT -6.65%, MRX -1.64%, CIFR -1.77%, ETOR +4.31%. Momentum scanner shows 6 peers (e.g., MARA, WULF, ETOR) moving up together, suggesting MIAX’s move was more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| 2026-02-25 | Q4/FY2025 earnings | Positive | +3.6% | Strong Q4 and FY2025 revenue and EBITDA growth with options-driven expansion. |
| 2026-02-13 | Leadership award | Positive | +1.4% | CEO named Chief Executive of the Year recognizing execution on IPO and growth. |
| 2026-02-09 | Earnings date set | Neutral | -2.1% | Announcement of Q4 2025 earnings release timing and conference call details. |
| 2026-02-06 | January trading stats | Positive | +1.1% | January 2026 options ADV, market share, and futures ADV growth update. |
| 2026-02-05 | TISE listing results | Positive | +2.7% | TISE reported record 2025 new listings and higher total market value. |
Recent fundamentally positive releases (earnings, trading stats, TISE results) generally saw positive price reactions, with one divergence on an earnings-date scheduling announcement.
Over the last few months, MIAX has reported a series of growth-focused updates. Q4 and FY2025 results on 2026-02-25 showed strong net revenue and adjusted EBITDA expansion, with options as the core driver. January 2026 trading results highlighted higher ADV and market share, while TISE delivered record 2025 listings. Recognition of the CEO and multiple capital markets transactions (IPO, secondary, TISE acquisition, MIAXdx sale) frame today’s February trading update as a continuation of this operational growth narrative.
Market Pulse Summary
This announcement highlights continued operational momentum for MIAX, with February 2026 options ADV of 10.8 million contracts, up 25.4% year-over-year, and options market share at 17.1%. At the same time, MIAX Futures ADV of 14,944 contracts reflects strong month-on-month growth but a -38.5% year-over-year comparison. In context of recent strong Q4/FY2025 earnings and January trading gains, investors may track how options growth, futures variability, and equity volumes evolve across 2026.
Key Terms
average daily volume (adv) technical
capture rates technical
AI-generated analysis. Not financial advice.
MIAX Exchange Group reports
February 2026 Highlights
- MIAX Exchange Group average daily volume (ADV) reached 10.8 million contracts, a
25.4% increase year-over-year (YoY) - MIAX Exchange Group market share reached
17.1% , an8.1% increase YoY - MIAX Futures ADV reached 14,944 contracts, a
103.1% increase from January 2026
Additional MIAX Exchange Group and MIAX Futures trading volume and market share information is included in the table below. Summary statistics including trading volume and market share by business segment, as well as rolling three-month average revenue per contract and capture rates, are available on the MIAX website at https://ir.miaxglobal.com/volume-rpc-reports.
Average Daily Trading Volume (ADV) (1) | Year-to-Date Comparison | |||||||
Feb-26 | Feb-25 | % Chg | Jan-26 | % Chg | Feb-26 | Feb-25 | % Chg | |
Trading Days | 19 | 19 | 20 | 39 | 39 | |||
63,264 | 54,563 | 15.9 % | 63,025 | 0.4 % | 63,141 | 53,831 | 17.3 % | |
MIAX Exchange Group Options ADV (000's) | 10,812 | 8,625 | 25.4 % | 11,100 | -2.6 % | 10,960 | 8,751 | 25.2 % |
MIAX Exchange Group Options Market Share | 17.1 % | 15.8 % | 8.1 % | 17.6 % | -3.0 % | 17.4 % | 16.3 % | 6.8 % |
18,963 | 15,618 | 21.4 % | 19,436 | -2.4 % | 19,206 | 15,526 | 23.7 % | |
MIAX Pearl ADV (Millions) | 174 | 170 | 2.1 % | 161 | 7.8 % | 167 | 183 | -8.5 % |
MIAX Pearl Market Share | 0.9 % | 1.1 % | -15.9 % | 0.8 % | 10.5 % | 0.9 % | 1.2 % | -26.0 % |
MIAX Futures Exchange | ||||||||
Trading Days | 19 | 19 | 20 | 39 | 40 | |||
MIAX Futures ADV | 14,944 | 24,316 | -38.5 % | 7,359 | 103.1 % | 11,054 | 19,728 | -44.0 % |
1) Calculated as total volume for the period divided by total trading days for the period. |
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 eight exchanges across options, futures, equities and international markets including MIAX® Options, MIAX Pearl®, MIAX Emerald®, MIAX Sapphire®, MIAX Pearl Equities™, MIAX Futures™, 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.
MIAX Contacts:
Investors
investor.relations@miaxglobal.com
Media
media@miaxglobal.com
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SOURCE MIAX
FAQ
What were MIAX (MIAX) February 2026 average daily volumes (ADV)?
How did MIAX (MIAX) market share perform in February 2026?
What explains the MIAX Futures (MIAX) large month-over-month change in February 2026?
Did MIAX (MIAX) report any year-over-year declines in February 2026?
Where can investors find MIAX (MIAX) rolling revenue-per-contract and capture-rate data?
