#USA #Miami #MIAX Futures #Miami International #Wheat Futures

Miami International Holdings to Migrate Wheat Futures to MIAX Onyx Platform

Miami International Holdings, Inc. (MIH), a prominent force in the financial markets, has announced an exciting development in its trading operations. The company will transition the trading of Minneapolis Hard Red Spring Wheat (Minneapolis HRSW) futures to the newly developed MIAX Futures™ Onyx platform in the second quarter of 2025. This migration marks a significant evolution for both MIH and the agricultural trading community,

As of now, Minneapolis HRSW futures will still be available for trading on the CME Globex® platform until the official launch of MIAX Futures Onyx. Thomas P. Gallagher, the CEO and Chairman of MIH, highlighted the importance of the transition, stating, “The launch of MIAX Futures Onyx illustrates our steadfast commitment to the agricultural sector. We have forged strong relationships with key Minneapolis HRSW market participants over the course of a century.”

The new trading platform aims to enhance liquidity and offer competitive fee schedules, along with state-of-the-art trading technology that aligns with MIH's strategy of utilizing proprietary systems for their markets. This migration is not just about the immediate future, but also about establishing a more robust marketplace for the agricultural industry over the long term.

In addition to providing enhanced trading options, the MIAX Futures Onyx platform will feature a modernized clearing infrastructure. With upgraded risk management capabilities, including back testing and stress testing, this platform is set to elevate the trading experience significantly. Customers will benefit from improved real-time variation calculations, thereby streamlining their trading processes.

According to Gallagher, industry feedback has played a vital role in shaping this new trading environment. “We are confident that the new platform will redefine speed, reliability, and innovation within the trading community upon its launch later this year,” he expressed.

To support the transition, MIH has created a dedicated MIAX Futures Onyx Information Hub. This resource will provide technical information, connectivity guides, and further details regarding access to the MIAX Futures Firm Test Bed Environment, ensuring a smooth migration for all participants involved.

It’s worth mentioning that the migration timeline is subject to regulatory filings with the Commodity Futures Trading Commission, indicating MIH’s commitment to compliance and transparency as it undertakes this significant change.

Overall, the launch of the MIAX Futures Onyx platform is positioned as a monumental step for not just MIH but the agricultural trading sector as a whole. With advancements in technology and a keen focus on customer needs, MIH continues to lead the way in modernizing the trading experience.

For more detailed information regarding the upcoming migration and trading, interested parties can visit MIAX's official website. Furthermore, potential participants are encouraged to engage with the available resources to familiarize themselves with the new systems prior to their launch.

Miami International Holdings represents a sophisticated and diversified portfolio in the financial services industry, operating several exchanges that include futures, derivatives, and equities. The company’s relentless pursuit of innovation underlines its position as a leader within the space, and the upcoming MIAX Futures Onyx launch is merely the latest chapter in its storied journey.

In conclusion, the transition of Minneapolis HRSW futures signifies a broader trend towards technological advancement in financial markets, providing traders with enhanced tools that cater to evolving needs and preferences in the agricultural domain.

With MIH at the helm, the future of wheat trading and beyond looks promising as the organization is committed to pushing the envelope of what's possible in financial market innovation.