Miami International Holdings Reports March 2021 Trading Results, MIAX Exchange Group Sets New Monthly Market Share and Volume Records

PRINCETON, N.J., April 6, 2021 /PRNewswire/ — Miami International Holdings, Inc. today reported March 2021 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group™) and the Minneapolis Grain Exchange (MGEX).

In U.S. options, the MIAX Exchange Group collectively executed over 116.9 million multi-listed options contracts for a combined average daily volume (ADV) of 5,083,825 contracts, representing a total U.S. multi-listed options market share of 13.65%. The 13.65% market share represents an increase of over 18% from March 2020.

In U.S. equities, MIAX Pearl Equities™ executed 486,857,188 shares.

In U.S. futures, MGEX executed 259,617 contracts.

Multi-Listed Options Trading Volume for

 MIAX Exchange Group, Current Month

Year-to-Date Comparison
Multi-Listed Options ContractsMar-21Mar-20% Chg.Feb-21% Chg.Mar-21Mar-20% Chg.
Trading Days2322196162
U.S. Multi-Listed Options Industry856,908,768590,743,48145.1%786,095,7459.0%2,443,233,8641,570,530,64755.6%
MIAX Exchange Group116,927,97168,141,54271.6%105,083,88611.3%323,257,959172,216,21587.7%
MIAX Pearl52,194,81424,572,079112.4%39,577,94831.9%121,671,47677,154,97657.7%
MIAX Emerald 27,239,08121,382,08927.4%32,325,607-15.7%95,958,64028,747,331233.8%
Multi-Listed Options ADVMar-21Mar-20% Chg.Feb-21% Chg.Mar-21Mar-20% Chg.
U.S. Multi-Listed Options Industry37,256,90326,851,97638.7%41,373,460-9.9%40,053,01425,331,13958.1%
MIAX Exchange Group5,083,8253,097,34364.1%5,530,731-8.1%5,299,3112,777,68190.8%
MIAX Pearl2,269,3401,116,913103.2%2,083,0508.9%1,994,6141,244,43560.3%
MIAX Emerald1,184,308971,91321.9%1,701,348-30.4%1,573,092463,667239.3%
Multi-Listed Options Market Share for

MIAX Exchange Group, Current Month

Year-to-Date Comparison
Multi-Listed Options Market ShareMar-21Mar-20% Chg.Feb-21% Chg.Mar-21Mar-20% Chg.
MIAX Exchange Group13.65%11.53%18.3%13.37%2.1%13.23%10.97%20.7%
MIAX Pearl6.09%4.16%46.4%5.03%21.0%4.98%4.91%1.4%
MIAX Emerald3.18%3.62%-12.2%4.11%-22.7%3.93%1.83%114.6%


Equities Trading Volume for

MIAX Pearl Equities, Current Month

Year-to-Date Comparison
Equities Shares (millions)Mar-21Mar-20% Chg.Feb-21% Chg.Mar-21Mar-20% Chg.
Trading Days23N/AN/A1961N/AN/A
U.S. Equities Volume – Industry307,161N/AN/A290,5035.7%893,668N/AN/A
MIAX Pearl Volume487N/AN/A4772.0%1,470N/AN/A
MIAX Pearl ADV21N/AN/A25-15.7%24N/AN/A
MIAX Pearl Market Share0.16%N/AN/A0.16%-3.5%0.16%N/AN/A


Futures & Options Trading Volume for

MGEX, Current Month

Year-to-Date Comparison
Futures & Options


Mar-21Mar-20% Chg.Feb-21% Chg.Mar-21Mar-20% Chg.
Trading Days2322196162
MGEX Volume259,617277,629-6.5%289,812-10.4%788,162715,12510.2%
MGEX ADV11,28812,620-10.6%15,253-26.0%12,92111,53412.0%

March 2021 Market Share and Volume Records:

MIAXMIAX Exchange Group Multi-Listed Options Records
Single DayMarket Share15.62%March 4, 2021
Volume8,126,083March 4, 2021
MonthlyVolume116,927,971March 2021


MIAX OptionsMIAX Multi-Listed Options Records
MonthlyVolume37,494,076March 2021


MIAX Pearl OptionsMIAX Pearl Multi-Listed Options Records
Single DayMarket Share6.92%March 5, 2021
Volume3,506,013March 5, 2021
MonthlyMarket Share6.09%March 2021
Volume52,194,814March 2021

For further information regarding MIAX, please visit or contact MIAX Trading Operations at

Corporate Communications Contact:

Natalie Kay, Karma Agency

About MIAX
MIAX’s parent holding company, Miami International Holdings (MIH), operates and manages Miami International Securities Exchange, LLC (MIAX®), MIAX Pearl, LLC (MIAX Pearl®) and MIAX Emerald, LLC (MIAX Emerald® and together with MIAX and MIAX Pearl, the MIAX Exchange Group™), the Minneapolis Grain Exchange, LLC, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), and the Bermuda Stock Exchange.

The MIAX, MIAX Pearl and MIAX Emerald options exchanges leverage MIAX’s industry-leading technology and infrastructure to provide their member firms with traditional pricing and pro rata allocation (MIAX), maker-taker pricing and price-time allocation (MIAX Pearl) market structures, and a hybrid market structure with maker-taker pricing and pro rata allocation (MIAX Emerald).

MIAX serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).

Under MIAX Pearl’s exchange license, MIAX Pearl Equities™ provides its members with best-in-class performance through a combination of high determinism, low latency and high throughput. MIAX Pearl Equities has maker-taker pricing and a price-time allocation model.

MIAX’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL.

To learn more visit

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