Salem Radio Network News Saturday, May 28, 2022

U.S.

MIAX-parent Miami International Holdings confidentially files for U.S. IPO

(Reuters) – Miami International Holdings Inc, which owns the options exchange Miami International Securities Exchange (MIAX), said on Friday it has confidentially submitted paperwork with regulators for a U.S. initial public offering.

The Princeton, New Jersey-based exchange operator did not share any other details related to the terms of the offering and chose to keep its finances hidden from competition by confidentially filing initial paperwork with the U.S. Securities and Exchange Commission.

Miami International owns three options exchanges including the MIAX Pearl. It also runs the Bermuda Stock Exchange and the Minneapolis Grain Exchange, among others.

The company launched stock trading on the MIAX Pearl in September 2020, looking to grab market share from the likes of its listed peers such as Nasdaq Inc, Intercontinental Exchange Inc owned New York Stock Exchange, Cboe Global Markets and others.

Miami International launched options trading on the MIAX, its first exchange, in December 2012, using management expertise and relationships in the equity options space. It now lists and trades options on over 3,900 multi-listed classes, its website said.

(Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)

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