#USA #Miami #MIAX Futures #Trading Platform #Agricultural Futures

Miami International Holdings Launches MIAX Futures Onyx

Miami International Holdings, Inc. (MIH) has successfully launched the MIAX Futures Onyx, a state-of-the-art trading platform aimed at revolutionizing the trading of agricultural and financial futures as well as options on futures. This launch marks a pivotal moment for MIH as it seeks to expand its technological capabilities and deliver enhanced services to market participants.

Overview of MIAX Futures Onyx

Developed by a highly skilled in-house technology team, the MIAX Futures Onyx platform is built upon proven systems that power MIAX's exchanges. According to Thomas P. Gallagher, the Chairman and CEO of Miami International Holdings, this advanced platform signifies a new benchmark for speed and reliability within the futures trading landscape. He stated, “We believe that the MIAX Futures Onyx technology platform sets a new standard for fast, reliable trading technology for the futures industry.”
The launch also reiterates MIH's commitment to supporting the agricultural market, particularly in facilitating the trading of Minneapolis Hard Red Spring Wheat (HRSW), which has been a cornerstone of the trading community since 1881.

Key Features and Benefits

The MIAX Futures Onyx platform is specially designed to address the high-performance order processing demands distinctive to the U.S. futures trading sector. Matthew J. Rotella, the Executive Vice President and Chief Technology Officer of MIAX, mentioned that both industry feedback and the scalability of MIAX's proven technology were essential in shaping the design and functionality of the Onyx platform. As a result, market participants can expect a more efficient trading experience with a wide range of products and services.

Future Prospects

As part of a strategic vision, MIAX intends to offer a more extensive suite of products and clearing services through Onyx. Notably, the Bloomberg 500 Index Futures will also be made available on the platform, which is anticipated to launch in the latter part of 2025, contingent upon approval from the Commodity Futures Trading Commission (CFTC). This move will significantly broaden MIAX Futures’ offering capabilities and cater to a diverse array of market participants.

The transition of the Minneapolis HRSW Futures trading onto the new Onyx platform is particularly significant as it completes the modernization effort initiated post the acquisition of MIAX Futures in 2020. This historic contract has continually served as a mechanism for hedging risk exposure in global wheat markets and will now benefit from the enhanced technologies provided by MIAX.

Conclusion

The launch of MIAX Futures Onyx encapsulates Miami International Holdings' commitment to innovation and client service within the trading space. As they endeavor to redefine trading experiences through cutting-edge technology and a broader service spectrum, MIAX aims to further solidify its standing as a leader in building and operating regulated financial markets. For more information on MIAX and MIAX Futures, you can visit MIAX Global or specific sections dedicated to their products.

About Miami International Holdings

Miami International Holdings, Inc. operates various exchanges including MIAX, MIAX Pearl, MIAX Emerald, among others, and continues to push the envelope in trading technology and market services. MIAX Futures is recognized as a registered exchange under the CFTC and is known for its reliability, high throughput, and low latency trading systems.