Miami International Holdings Honored with 2025 TabbFORUM NOVA Award for Innovation in Financial Technology
On April 3, 2025, Miami International Holdings, Inc. (MIH) proudly announced its achievement as a distinguished honoree of the 2025 TabbFORUM NOVA Award. This accolade serves to highlight the financial sector's ongoing dedication to embracing technological innovation. It celebrates companies that have made remarkable strides in their recent and sustained achievements within the industry. MIH was also recognized as an honoree in 2023, marking a consistent recognition of its innovative endeavors.
The Chairman and Chief Executive Officer of MIH, Thomas P. Gallagher, expressed gratitude for the recognition, stating, "MIH is honored to once again be recognized among such an elite group of our peers. Many new MIAX proprietary technology projects were implemented over the past year, and this award underscores our talented team's innovative approach to scaling our technology." This year's award comes at a particularly transformative time for MIH, as it has made significant enhancements to its technology suite, including the launch of a new trading and settlement technology platform designed specifically for The Bermuda Stock Exchange (BSX).
In addition, MIH is gearing up to roll out the MIAX Futures™ Onyx platform in June 2025. This development will modernize the entire MIAX Futures trading and clearing infrastructure, solidifying MIH's position as a forerunner in the evolving financial ecosystem. Another notable venture is the launch of the MIAX Sapphire Trading Floor, which will act as the physical extension of its fourth electronic options exchange, also set to debut in June 2025 in Miami, Florida.
Douglas M. Schafer Jr., Executive Vice President and Chief Information Officer of MIH, reiterated the company's core commitment to technological advancement. He stated, "Technology-driven innovation is in MIH's DNA, and we are grateful to be recognized by the industry for the benefits that our technology provides to our market participants." MIH's ongoing mission includes the development of high-performance trading systems that meet the diverse demands of industry stakeholders, characterized by speed, reliability, and optimal performance.
The TabbFORUM NOVA Awards are distributed based on extensive research and community feedback within the capital markets sector. This year's awards honored 40 organizations, reflecting a diverse range of achievements and innovations that have greatly influenced the sector. Recognizing the role that innovation plays in organizational success and industry impact, the TabbFORUM awards have become a benchmark for excellence.
MIH's parent holding company, Miami International Holdings, Inc., operates several national securities exchanges, including MIAX®, MIAX Pearl®, MIAX Emerald®, and MIAX Sapphire®. Each exchange utilizes MIAX's proprietary technology that has been developed in-house, designed to cater to the high-performance requirements of the U.S. options trading market, characterized by its low latency and high throughput.
The MIAX Futures Exchange, regulated by the Commodity Futures Trading Commission (CFTC), offers a myriad of products, including future contracts for Hard Red Spring Wheat. MIAX also maintains a designated contract market (DCM) status and serves as a derivatives clearing organization (DCO), emphasizing its trusted role in the financial landscape.
The Bermuda Stock Exchange (BSX), established in 1971, is another entity under the MIH umbrella, specializing in listing and trading capital market instruments such as equities and derivative securities. It is a fully electronic market that has achieved full membership in the World Federation of Exchanges.
As MIH continues to innovate and evolve within the fast-paced financial market environment, its recognition with the TabbFORUM NOVA Award signifies not only the company’s advancements but also its unwavering commitment to driving the financial industry forward through cutting-edge technology.
The Chairman and Chief Executive Officer of MIH, Thomas P. Gallagher, expressed gratitude for the recognition, stating, "MIH is honored to once again be recognized among such an elite group of our peers. Many new MIAX proprietary technology projects were implemented over the past year, and this award underscores our talented team's innovative approach to scaling our technology." This year's award comes at a particularly transformative time for MIH, as it has made significant enhancements to its technology suite, including the launch of a new trading and settlement technology platform designed specifically for The Bermuda Stock Exchange (BSX).
In addition, MIH is gearing up to roll out the MIAX Futures™ Onyx platform in June 2025. This development will modernize the entire MIAX Futures trading and clearing infrastructure, solidifying MIH's position as a forerunner in the evolving financial ecosystem. Another notable venture is the launch of the MIAX Sapphire Trading Floor, which will act as the physical extension of its fourth electronic options exchange, also set to debut in June 2025 in Miami, Florida.
Douglas M. Schafer Jr., Executive Vice President and Chief Information Officer of MIH, reiterated the company's core commitment to technological advancement. He stated, "Technology-driven innovation is in MIH's DNA, and we are grateful to be recognized by the industry for the benefits that our technology provides to our market participants." MIH's ongoing mission includes the development of high-performance trading systems that meet the diverse demands of industry stakeholders, characterized by speed, reliability, and optimal performance.
The TabbFORUM NOVA Awards are distributed based on extensive research and community feedback within the capital markets sector. This year's awards honored 40 organizations, reflecting a diverse range of achievements and innovations that have greatly influenced the sector. Recognizing the role that innovation plays in organizational success and industry impact, the TabbFORUM awards have become a benchmark for excellence.
MIH's parent holding company, Miami International Holdings, Inc., operates several national securities exchanges, including MIAX®, MIAX Pearl®, MIAX Emerald®, and MIAX Sapphire®. Each exchange utilizes MIAX's proprietary technology that has been developed in-house, designed to cater to the high-performance requirements of the U.S. options trading market, characterized by its low latency and high throughput.
The MIAX Futures Exchange, regulated by the Commodity Futures Trading Commission (CFTC), offers a myriad of products, including future contracts for Hard Red Spring Wheat. MIAX also maintains a designated contract market (DCM) status and serves as a derivatives clearing organization (DCO), emphasizing its trusted role in the financial landscape.
The Bermuda Stock Exchange (BSX), established in 1971, is another entity under the MIH umbrella, specializing in listing and trading capital market instruments such as equities and derivative securities. It is a fully electronic market that has achieved full membership in the World Federation of Exchanges.
As MIH continues to innovate and evolve within the fast-paced financial market environment, its recognition with the TabbFORUM NOVA Award signifies not only the company’s advancements but also its unwavering commitment to driving the financial industry forward through cutting-edge technology.
Topics Financial Services & Investing）
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