Miami International Holdings Reports Trading Results for January 2026

Rhea-AI Summary

Miami International Holdings (NYSE: MIAX) reported January 2026 trading results. MIAX Exchange Group ADV was 11.1 million contracts, a 25.1% YoY increase and 20.6% vs Dec 2025. Group market share reached 17.6%, up 5.5% YoY and 2.8% vs Dec 2025. MIAX Futures ADV was 7,359 contracts, up 51.9% from Dec 2025. Detailed segment tables show MIAX Pearl equity ADV and MIAX Futures year-over-year contrasts; full rolling revenue-per-contract and capture-rate metrics are available on the company website.

Positive

• ADV +25.1% YoY to 11.1 million contracts
• Market share 17.6%, up 5.5% YoY
• MIAX Futures ADV +51.9% vs Dec 2025 to 7,359 contracts

Negative

• MIAX Futures ADV -52.8% YoY vs Jan 2025
• MIAX Pearl ADV -17.3% YoY
• MIAX Pearl market share -34.3% YoY

Key Figures

Options ADV: 11.1 million contracts Options ADV YoY change: 25.1% Options ADV vs Dec: 20.6% +5 more

8 metrics

Options ADV 11.1 million contracts MIAX Exchange Group average daily volume in January 2026

Options ADV YoY change 25.1% Year-over-year increase in MIAX Exchange Group options ADV for January 2026

Options ADV vs Dec 20.6% Increase from December 2025 in MIAX Exchange Group options ADV

Options market share 17.6% MIAX Exchange Group U.S. options market share in January 2026

Market share YoY change 5.5% Year-over-year increase in MIAX Exchange Group options market share

Market share vs Dec 2.8% Increase from December 2025 in MIAX Exchange Group options market share

MIAX Futures ADV 7,359 contracts Average daily volume in January 2026

Futures ADV vs Dec 51.9% Increase from December 2025 in MIAX Futures ADV

Market Reality Check

Price: $41.75 Vol: Volume 1,023,536 vs 20-da...

normal vol

$41.75 Last Close

Volume Volume 1,023,536 vs 20-day average 786,869 (relative volume 1.3x) ahead of the trading update. normal

Technical Price $41.75 trades slightly below the 200-day MA at $42.02 despite stronger January volumes.

Peers on Argus

MIAX was up 2.68% with elevated volume, while momentum-screened peers like HUT, ...

5 Up 1 Down

MIAX was up 2.68% with elevated volume, while momentum-screened peers like HUT, MARA, CIFR, and ETOR mostly moved up independently. Scanner flags show mixed directions and no confirmed sector-wide move.

Historical Context

4 past events · Latest: Jan 21 (Positive)

Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Jan 21	MIAXdx sale closing	Positive	+2.5%	Closed sale of 90% of MIAXdx to Robinhood–SIG JV, retaining 10% stake.
Jan 08	Trading results 2025	Positive	+0.8%	Reported record 2025 multi-list options volumes and higher MIAX Futures ADV.
Dec 23	Strategic investment	Positive	+0.3%	Anchored $35M Series A for Architect’s AX perpetual futures exchange platform.
Dec 16	Secondary offering	Neutral	+1.8%	Existing holders sold 7,762,500 shares at $41 with no proceeds to company.

Pattern Detected

Recent news events, including trading metrics and corporate transactions, were followed by modestly positive 24h price reactions, suggesting a pattern of constructive but measured responses.

Recent Company History

Over the past few months, MIAX has reported record 2025 trading volumes and market share gains, completed a secondary offering by existing holders, and announced and then closed the sale of 90% of MIAXdx while retaining a 10% stake. It also anchored a $35M Series A in Architect Financial Technologies and signed an MoU via TISE to expand international cooperation. These milestones frame January 2026’s solid volume and share data as a continuation of growth in its exchange franchise.

Market Pulse Summary

This announcement highlights solid January 2026 performance, with MIAX Exchange Group options ADV at...

Analysis

This announcement highlights solid January 2026 performance, with MIAX Exchange Group options ADV at 11.1 million contracts and market share of 17.6%, plus a sharp month-on-month rebound in MIAX Futures ADV. In recent months, the company has paired growing volumes with strategic moves such as the MIAXdx sale and international partnerships. Investors may focus on whether elevated ADV and share are sustained in coming months and how volume trends translate into revenue per contract and overall earnings.

Key Terms

average daily volume, market share, capture rates

3 terms

average daily volume financial

"MIAX Exchange Group average daily volume (ADV) reached 11.1 million contracts"

Average daily volume is the typical number of shares or contracts of a security traded each day, calculated by averaging daily trading amounts over a recent period. It matters to investors because it indicates how easy it is to buy or sell without moving the price—like traffic on a road: high volume is a busy freeway that lets many cars pass smoothly, while low volume can make large orders cause big price changes and higher costs.

market share financial

"MIAX Exchange Group market share reached 17.6%, a 5.5% increase YoY"

Market share is the percentage of total sales or customers that a company has within a specific industry or market. It shows how big or popular a company is compared to its competitors. Knowing a company's market share helps understand its strength and position in the industry.

capture rates financial

"average revenue per contract and capture rates are available on the MIAX website"

Capture rates measure the proportion of a defined pool of opportunities that a company, product or program successfully secures or converts — for example, the share of potential customers won, prescriptions written out of eligible patients, or users who adopt a new service. Investors watch capture rates because they show how well a business turns potential demand into real revenue or market share; rising capture rates suggest stronger sales execution or product-market fit, while falling rates warn of competitive pressures or weakening appeal.

AI-generated analysis. Not financial advice.

MIAX Exchange Group reports 25.1% year-over-year increase in multi-list options ADV

PRINCETON, N.J. and MIAMI, Feb. 6, 2026 /PRNewswire/ -- Miami International Holdings, Inc. (MIAX) (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today reported January 2026 trading results for its U.S. exchange subsidiaries — MIAX^®, MIAX Pearl^®, MIAX Emerald^® and MIAX Sapphire^® (collectively, the MIAX Exchange Group), and MIAX Futures™.

January 2026 Highlights

• MIAX Exchange Group average daily volume (ADV) reached 11.1 million contracts, a 25.1% year-over-year (YoY) increase and a 20.6% increase from December 2025
• MIAX Exchange Group market share reached 17.6%, a 5.5% increase YoY and a 2.8% increase from December 2025
• MIAX Futures ADV reached 7,359 contracts, a 51.9% increase from December 2025

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
	Jan-26	Jan-25	% Chg	Dec-25	% Chg	Jan-26	Jan-25	% Chg
U.S. Multi-list Options
Trading Days	20	20		22		20	20
U.S. Equity Options Industry ADV (000's)	63,025	53,135	18.6 %	53,703	17.4 %	63,025	53,135	18.6 %
MIAX Exchange Group Options ADV (000's)	11,100	8,870	25.1 %	9,201	20.6 %	11,100	8,870	25.1 %
MIAX Exchange Group Options Market Share	17.6 %	16.7 %	5.5 %	17.1 %	2.8 %	17.6 %	16.7 %	5.5 %
U.S. Equities
U.S. Equities Industry ADV (Millions)	19,436	15,438	25.9 %	15,879	22.4 %	19,436	15,438	25.9 %
MIAX Pearl ADV (Millions)	161	195	-17.3 %	120	34.6 %	161	195	-17.3 %
MIAX Pearl Market Share	0.8 %	1.3 %	-34.3 %	0.8 %	9.9 %	0.8 %	1.3 %	-34.3 %
MIAX Futures Exchange
Trading Days	20	21		22		20	21
MIAX Futures ADV	7,359	15,577	-52.8 %	4,843	51.9 %	7,359	15,577	-52.8 %

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) January 2026 ADV and year-over-year changes?

MIAX Exchange Group ADV was 11.1 million contracts, a 25.1% YoY increase. According to the company, group ADV rose 20.6% versus December 2025 and industry tables detail segment-level volumes and market share.

How did MIAX Exchange Group market share perform in January 2026 for MIAX (MIAX)?

MIAX Exchange Group market share reached 17.6%, up 5.5% YoY. According to the company, this was also a 2.8% increase compared with December 2025 across MIAX exchange subsidiaries.

What changed in MIAX Futures ADV in January 2026 for MIAX (MIAX)?

MIAX Futures ADV was 7,359 contracts, a 51.9% increase from December 2025. According to the company, January shows a strong month-over-month recovery despite a year-over-year decline versus Jan 2025.

What happened to MIAX Pearl equity ADV and market share in January 2026 (MIAX)?

MIAX Pearl ADV declined 17.3% YoY and market share fell 34.3% YoY. According to the company, these metrics contrast with broader group gains and are shown in the published segment tables.

Where can investors find MIAX (MIAX) rolling revenue-per-contract and capture-rate data for January 2026?

Investors can access rolling three-month revenue-per-contract and capture rates on the company website. According to the company, detailed tables and segment statistics are posted at the MIAX investor volume and RPC reports page.