The International Stock Exchange Signs Memorandum of Understanding with Boursa Kuwait to Strengthen Cooperation

Rhea-AI Summary

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.

Market Reality Check

$42.76 Last Close

Volume Volume 1,325,095 is 1.23x the 20-day average of 1,081,534. normal

Technical Price $47.26 is above 200-day MA of $41.58, 8.01% below 52-week high and 65.07% above 52-week low.

Peers on Argus

Peers show mixed moves: CLEANSPARK INC -3.32%, Hut 8 Corp. +9.83%, eToro Group Ltd. +0.61%, Marex Group plc +0.15%, Cipher Mining Inc. -1.86%, suggesting today’s +5.92% move in MIAX is stock-specific.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 16	Secondary offering close	Neutral	+1.8%	Closing of secondary offering of existing holders at <b>$41.00</b> per share.
Dec 11	Secondary offering pricing	Neutral	+2.1%	Pricing of secondary offering of <b>6,750,000</b> shares at <b>$41.00</b>.
Dec 09	Secondary offering launch	Neutral	+0.5%	Launch of proposed secondary offering with 30-day underwriter option.
Dec 05	Trading metrics update	Positive	-3.1%	Record market share and ADV across MIAX exchanges and MIAX Futures.
Nov 20	Risk system deployment	Positive	-4.1%	Deployment of real-time risk management suite on MIAX Futures.

Pattern Detected

Secondary offerings in December saw modest positive reactions, while operational and tech updates sometimes coincided with negative price moves.

Recent Company History

Over recent months, MIAX has combined capital markets activity with operational expansion. In Q3 2025 it reported revenue of $339.8 million and closed its IPO at $23.00 for 17,250,000 shares, using proceeds to repay debt. It launched MIAX Sapphire and acquired TISEG, expanding its exchange footprint. November data showed record market share and ADV, while a Vermiculus real-time risk system went live on MIAX Futures. December featured a large secondary offering by existing holders. Today’s MoU around specialized listings and Middle Eastern access builds on this expansion theme.

Market Pulse Summary

This announcement highlights an MoU between MIAX’s TISE and Boursa Kuwait to collaborate on specialized listings, innovative products, and sustainable finance, aiming to expand Middle Eastern investment channels. It complements earlier moves like acquiring TISEG and deploying new trading and risk platforms. Investors may watch for concrete listing activity, product launches, and measurable volumes flowing through these channels, as well as any follow-on regulatory or financial disclosures that clarify the commercial impact of the cooperation.

Key Terms

memorandum of understanding regulatory

"announced the signing of a Memorandum of Understanding (MoU) with Boursa Kuwait"

A memorandum of understanding (MOU) is a formal agreement between two or more parties that outlines their shared intentions and plans to work together. It acts like a handshake in writing, clarifying each side’s roles and expectations before any official contract is signed. For investors, an MOU signals that parties are serious about collaboration, which can influence future business opportunities and potential growth.

emerging market financial

"Boursa Kuwait is a leading regional exchange classified as an emerging market"

An emerging market is a country or region whose economy and financial markets are growing quickly and becoming more connected to the world, like a business that’s expanding fast but still finding its footing. For investors it matters because these markets can offer higher growth and new opportunities, but also greater swings and risks — such as political changes, currency moves, or weaker investor protections — that affect returns and portfolio balance.

specialized listings financial

"collaboration in facilitating specialized listings and expanding Middle Eastern investment"

Specialized listings are stock market segments or boards set up for companies that don’t fit the regular exchange rules—such as very small firms, fast-growing tech or biotech companies, or businesses with different reporting needs. They use tailored rules for disclosure, trading hours or investor protections, like a separate lane on a highway for vehicles with special needs. Investors care because these listings can mean higher growth potential but also greater risk, lower liquidity and different regulatory oversight than standard listings.

sustainable finance financial

"support for sustainable finance initiatives. It is part of Boursa Kuwait's ongoing"

Sustainable finance is the practice of directing money toward companies, projects, and funds that consider environmental, social and governance factors—like pollution, worker treatment and transparent management—alongside traditional financial metrics. It matters to investors because these choices can affect long-term risk and returns: like choosing a well-built car that costs less over time, investments mindful of sustainability can be more resilient to regulation, reputation hits and changing market demand.

financial technology technical

"sharing knowledge in areas such as financial technology and market infrastructure"

Financial technology is the use of software, apps and digital tools to deliver, manage or improve financial services like payments, lending, investing and banking; think of it as the modern toolkit that replaces or upgrades traditional ways of handling money. It matters to investors because these technologies can cut costs, open new markets, change how companies compete and create both growth opportunities and regulatory or security risks that affect profits and valuations.

market infrastructure technical

"knowledge in areas such as financial technology and market infrastructure."The signing"

Market infrastructure consists of the systems, rules, and institutions that enable financial transactions to happen smoothly and securely. It is like the roads and bridges of the financial world, ensuring money and assets move efficiently between buyers and sellers. This foundation helps investors trust that their trades are completed correctly and promptly, reducing risks and supporting a stable financial system.

AI-generated analysis. Not financial advice.

GUERNSEY, Channel Islands, Dec. 23, 2025 /PRNewswire/ -- The International Stock Exchange Group Limited (TISE), a wholly-owned subsidiary of Miami International Holdings, Inc. (MIAX) (NYSE: MIAX), today announced the signing of a Memorandum of Understanding (MoU) with Boursa Kuwait to explore opportunities for collaboration in facilitating specialized listings and expanding Middle Eastern investment channels.

Boursa Kuwait is a leading regional exchange classified as an emerging market in major global indices. 

TISE is a regulated exchange offering a growing range of financial products. Headquartered in Guernsey, it maintains a presence and has members based in key international financial centers including Dublin, Jersey and London.

"We are pleased to sign this MoU with Boursa Kuwait as we share a common vision of developing a more interconnected and sustainable financial environment," said Cees Vermaas, Chief Executive Officer of TISE. "Through knowledge sharing and the exploration of opportunities for collaboration in areas such as specialized listings and innovative products, we aim to create new investment opportunities. We look forward to working alongside one of the most prominent exchanges in the Middle East to promote market integration and connect global investors with the promising opportunities in Kuwait and the wider region." 

The MoU aims to enhance technical and knowledge-based cooperation between the two parties. It also seeks to explore opportunities for financial market development through the exchange of expertise, collaboration in the innovation of new financial products and support for sustainable finance initiatives. It is part of Boursa Kuwait's ongoing efforts to strengthen its international presence and reinforce the Kuwaiti capital market's reputation as a trusted destination for regional and international investors.

"The signing of this MoU reaffirms Boursa Kuwait's commitment to fostering international cooperation and exchanging expertise with global financial institutions, further enhancing the Kuwaiti capital market's position as an attractive investment destination in the region," said Mohammad Saud Al-Osaimi, Chief Executive Officer of Boursa Kuwait. "This partnership represents a significant step toward exploring opportunities for developing financial products, supporting sustainable finance initiatives, and sharing knowledge in areas such as financial technology and market infrastructure."

The signing of this MoU comes amid growing ties between Guernsey and the State of Kuwait. It follows a similar MoU signed in August 2025 between the Guernsey Financial Services Commission and the Capital Markets Authority of Kuwait, which underscored both parties' commitment to strengthening regulatory cooperation and exchanging expertise to advance regulatory frameworks and enhance supervisory efficiency and governance.

About TISE

TISE provides financial markets and securities services to companies globally. TISE's Qualified Investor Bond Market (QIBM) is a leading market in Europe for listing high yield bonds, structured finance products and securitization transactions. TISE lists a pool of investment funds, UK Real Estate Investment Trusts (REITs) and hosts a sustainable finance segment, TISE Sustainable. TISE is headquartered in Guernsey, Channel Islands. To learn more about TISE, visit www.tisegroup.com.

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

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.

Media Contact:
Mark Oliphant, Head of Marketing & Communications, TISE
+44 (0) 1481 753011
mark.oliphant@tisegroup.com

 

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SOURCE The International Stock Exchange Group

FAQ

What did MIAX subsidiary TISE announce on December 23, 2025 regarding Boursa Kuwait?

TISE announced it signed an MoU with Boursa Kuwait to explore specialized listings, product innovation and knowledge sharing.

How could the TISE–Boursa Kuwait MoU affect MIAX (NYSE: MIAX) shareholders?

The MoU may expand international listing channels and investor access in the Middle East, potentially raising MIAX's global connectivity over time.

Does the MoU between TISE and Boursa Kuwait include binding commercial deals or financial terms?

No binding commercial terms or financial figures were disclosed; the document focuses on cooperation, knowledge exchange and exploratory collaboration.

When did related regulatory cooperation between Guernsey and Kuwait occur before this MoU?

A related MoU between the Guernsey Financial Services Commission and Kuwait's Capital Markets Authority was signed in August 2025.

What areas of collaboration does the TISE and Boursa Kuwait MoU target?

The MoU targets specialized listings, new financial product innovation, sustainable finance initiatives, fintech and market infrastructure knowledge sharing.