#USA #Miami #MIAX #Robinhood #Susquehanna

Miami International Holdings Completes Sale of MIAXdx

Miami International Holdings, Inc. (MIAX), renowned for its technology-driven leadership in the financial markets sector, announced the successful sale of 90% of the equity in MIAX Derivatives Exchange (MIAXdx™) to a joint venture formed by Robinhood Markets, Inc. and Susquehanna International Group. This strategic move is aimed at bolstering growth and enhancing market reach.

A Step Forward in Growth Strategy

The transaction signifies MIAX's commitment to partnering with industry leaders in order to expand its growth horizons. Thomas P. Gallagher, the Chairman and CEO of MIAX, expressed optimism about the deal, highlighting that retaining a 10% stake in MIAXdx provides an opportunity to tap into the burgeoning prediction market. He commented, "We believe that this sale unlocks significant value for our shareholders and allows MIAX to focus on organic growth within our core exchanges."

MIAXdx operates as a Designated Contract Market (DCM) and has received approval from the Commodity Futures Trading Commission (CFTC) to handle a wide array of financial products including fully collateralized futures, options on futures, and swaps. By divesting the majority stake, MIAX aims to leverage the expertise and capabilities of its new partners in pursuing innovative market opportunities.

Robinhood's Vision for MIAXdx

JB Mackenzie, Vice President and General Manager of Futures and International at Robinhood, emphasized the importance of this acquisition, stating, "Purchasing MIAXdx enhances our investment in prediction markets and allows us to provide a better experience for our customers in this expanding asset class." He expressed gratitude towards MIAX for their trust and looks forward to future collaborative ventures with them.

The integration of MIAXdx into Robinhood's offerings not only strengthens its position in the derivatives market but also aims to capitalize on the growing demand for prediction market trading. This partnership could redefine customer engagement and facilitate wider access to sophisticated trading solutions.

MIAX's Ongoing Presence

Despite selling off the majority stake, MIAX remains a key player in the financial corridors with its diverse portfolio that includes eight exchanges across various markets. These include MIAX Options, MIAX Pearl, MIAX Emerald, MIAX Sapphire, and internationally recognized exchanges such as The Bermuda Stock Exchange and The International Stock Exchange. Moreover, MIAX owns Dorman Trading, a full-service Futures Commission Merchant, reflecting its extensive reach in the market.

This sale indicates MIAX's ongoing strategy to evolve and adapt in the ever-changing financial landscape while ensuring that it remains a pivotal participant in global markets. The retaining of a 10% equity stake in MIAXdx underscores MIAX's commitment to contribute to the success of the joint venture while keeping vested interests in the developments of MIAXdx moving forward.

Looking Ahead

As the partnership escalates, more innovative products and services are expected to be introduced to the market, guided by the synergies between MIAX, Robinhood, and Susquehanna International Group. With a clear focus on enhancing trading capabilities and improving customer experience, the future looks promising for both MIAXdx and its stakeholders.

In conclusion, this significant transaction marks a new chapter for MIAX as it continues to prioritize organic growth while exploring groundbreaking partnerships. Investors and market observers alike will be keenly watching how MIAXdx evolves under its new leadership and what new horizons lie ahead for this joint venture.