#United States #Princeton #Miami International #TISE #The International Stock Exchange

Miami International Holdings Completes TISE Acquisition

June 6, 2025 - Miami International Holdings, Inc. (MIH) has successfully finalized the acquisition of The International Stock Exchange Group Limited (TISE), a notable move aimed at enhancing its international growth strategy. This acquisition was enacted through MIH’s subsidiary, MIH East Holdings, Limited, under a Court-sanctioned scheme of arrangement according to Guernsey’s Companies Law.

The financial terms of this deal include a cash consideration of £22.50 per TISE ordinary share, valuing TISE at approximately £70.4 million (around $91.5 million). Thomas P. Gallagher, MIH's Chairman and CEO, stated, “This acquisition represents a key milestone in advancing our international growth strategy. I extend my gratitude to the TISE Board of Directors for their unwavering support throughout this process.” Gallagher also emphasized his appreciation for Anderson Whamond's guidance, expressing enthusiasm about the transition ahead.

Headquartered in Guernsey, Channel Islands, TISE specializes in providing financial markets and securities services, particularly for public and private entities. It stands as one of Europe’s significant professional bond markets, noted for hosting the Qualified Investor Bond Market (QIBM)—a premier listing venue for high-yield bonds, structured finance products, and securitizations. By the end of 2024, TISE had over 4,400 securities listed on its Official List, boasting a market value exceeding £750 billion (about $975 billion).

Cees Vermaas, CEO of TISE, remarked, “The acquisition signifies the growth of our business. We eagerly anticipate working with MIH to enhance TISE’s credentials as a leading European listing venue.” Vermaas believes that with MIH’s endorsement, TISE can accelerate its growth ambitions, broaden its service offerings, and deliver more value to its stakeholders.

Gallagher further noted their excitement about establishing a presence in Guernsey, citing TISE's robust reputation and foundational strength as vital opportunities for MIH. He expressed hopes to improve their service capabilities through investing in TISE’s technology and development processes.

In terms of legal and financial advisement, Reed Smith LLP and Mourant Ozannes (Guernsey) LLP provided counsel for MIH, while Ashurst LLP and Walkers (Guernsey) LLP served similar roles for TISE. Zeus Capital Limited and Investec Bank plc acted as financial advisors to MIH and TISE, respectively.

About MIH and TISE

MIH is the parent company of a number of securities exchanges, including Miami International Securities Exchange, MIAX PEARL, and MIAX Emerald. Each of these exchanges is designed with proprietary technology to meet the rigorous demands of the options trading sector in the U.S. The MIAX trading platform stands out for its high performance, proving essential for today's fast-paced trading environment.

In contrast, TISE continues its established role in the European financial market. Its sustainable finance segment, TISE Sustainable, is recognized for promoting responsible investment practices. As MIH aims to leverage TISE's established network and services, the synergy could lead to enhanced operational efficiency and market outreach.

In conclusion, this acquisition represents a significant stride for MIH toward becoming a formidable player on the global finance stage, indicating new growth opportunities and potentially introducing innovative financial products and services to a broader market audience.