Miami International Holdings To Sell Majority Stake in MIAXdx to Robinhood Markets and Susquehanna Group

Major Stake Acquisition of MIAXdx by Robinhood

Miami International Holdings, Inc. (MIAX) has officially announced an agreement to sell 90% of its MIAX Derivatives Exchange (MIAXdx) to Robinhood Markets, Inc., in collaboration with Susquehanna International Group. This strategic move marks a significant expansion for MIAX and aligns with its growth objectives in the increasingly competitive financial markets landscape.

Transaction Details

The agreement stipulates that Miami International Holdings will retain a modest 10% equity stake in MIAXdx, allowing the company continued involvement in the exchange operations. MIAXdx is recognized as a Designated Contract Market (DCM) and a Derivatives Clearing Organization (DCO), possessing regulatory approval from the Commodity Futures Trading Commission (CFTC) to facilitate trading in fully collateralized futures, options on futures, and swaps.

Thomas P. Gallagher, the Chairman and CEO of MIAX, expressed enthusiasm regarding this transaction, stating that retaining an equity stake will provide MIAX access to burgeoning prediction markets in an expedited manner. Gallagher highlighted that this transaction aligns seamlessly with MIAX’s strategy of engaging with industry leaders to offer innovative trading options, thereby broadening its market influence.

JB Mackenzie, VP and GM of Futures and International at Robinhood, echoed similar sentiments, noting their eagerness to continue the collaboration with MIAX as investors in the exchange. He emphasized that this partnership would explore future opportunities to develop products that satisfy the demands of Robinhood's clientele.

Implications for Prediction Markets

This venture represents a significant step towards expanding MIAX's operational capabilities within prediction markets, seeking to cater to both institutional and retail traders. Gallagher mentioned that this partnership is not merely a transaction; it is a strategic alignment aimed at enhancing MIAX’s offerings and delivering substantial long-term value.

The impending closure of this transaction is expected in the first quarter of 2026, contingent upon standard closing conditions and necessary filings with the CFTC. Both companies are poised to benefit from this partnership, enabling them to deliver cutting-edge trading products and remain competitive in the rapidly evolving market.

About MIAX

Miami International Holdings operates multiple exchanges across diverse financial products, including options, futures, and equities, with a commitment to innovation and technology within the financial markets. The company’s dedication to enhancing market accessibility and efficiency resonates within its strategic moves, like the partnership with Robinhood and Susquehanna Group.

This latest agreement is a testament to MIAX's forward-thinking approach in the financial sector and its commitment to leveraging industry expertise to improve market functionality while expanding its global footprint. Investors and traders alike can look forward to the advancements this partnership brings, potentially revolutionizing how financial derivatives are traded.

For more information about MIAX and its market operations, visit www.miaxglobal.com.