#USA #Miami #MIAX #Robinhood #Susquehanna

Miami International Holdings Sells Major Stake in MIAXdx to Robinhood

On November 25, 2025, Miami International Holdings, Inc. (MIAX®), a prominent player in the financial markets and technology sector, revealed its plan to sell 90% of the equity of its subsidiary, MIAX Derivatives Exchange (MIAXdx™), to Robinhood Markets, Inc. This strategic move, facilitated in partnership with Susquehanna International Group, underscores MIAX's commitment to expanding its presence in diverse financial markets.

Background of the Transaction

MIAX is well-regarded for its leadership in operating regulated financial markets across a variety of asset classes. The company operates several exchanges, including options, futures, equities, and more, aiming at creating modern and efficient trading environments. MIAXdx is recognized as a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) that boasts regulatory approval from the Commodity Futures Trading Commission (CFTC). This division is vital for listing and clearing futures, options on futures, and swaps, making it a significant entity in the derivatives market.

Strategic Alignment with Robinhood

According to Thomas P. Gallagher, the Chairman and CEO of MIAX, the sale of MIAXdx to Robinhood is an exciting opportunity. With the retained 10% equity stake in MIAXdx, MIAX is positioned to gain access to burgeoning prediction markets quickly. This partnership aligns seamlessly with MIAX's strategy to collaborate with industry leaders to introduce innovative trading products that cater to market needs. Gallagher emphasizes that this deal opens doors for deeper engagement in prediction markets, enhancing both institutional and retail trader experiences.

JB Mackenzie, Vice President and General Manager of Futures and International at Robinhood, expressed enthusiasm about the collaboration, highlighting MIAX as a leading exchange operator. Robinhood aims to leverage this relationship to explore new product offerings that resonate with its expanding customer base.

Upcoming Steps and Future Outlook

The expected closing of this transaction is set for the first quarter of 2026, pending standard closing conditions and requisite filings with the CFTC. As MIAX continues its focus on organic growth and furthering strategic opportunities, this alliance is anticipated to present long-term value.

MIAX has thoroughly analyzed avenues to enter the rapidly evolving prediction markets, concluding that this partnership represents an ideal pathway to expand their offerings. This forward-looking initiative is set to transform how traders operate in emerging segments of the market.

Broader Implications

The agreement showcases a significant industry shift, as major exchanges like MIAX seek to enhance their service offerings through strategic partnerships with market innovators such as Robinhood. In a landscape where technology and customer engagement are pivotal, such alliances enable companies to stay ahead of trends and satisfy evolving market demands.

For additional information about MIAX and to stay updated on future developments, visit www.miaxglobal.com.

In conclusion, the sale of MIAXdx to Robinhood, coupled with MIAX's retained interest in the platform, is poised to create new opportunities in the trading landscape, proving that innovation and strategic partnerships are essential in today's dynamic market environment.