Miami Options Exchange gets SEC approval, will start Dec. 7

MIAX will trade stocks and futures

Open sign Open sign

MIAX Options Exchange plans to start trading on Dec. 7 as the 11th U.S. equity derivatives market.

The Securities and Exchange Commission approved the exchange yesterday. MIAX is owned by Miami International Holdings Inc., based in Princeton, New Jersey.

“The approval of the MIAX Options Exchange is a significant milestone,” Thomas P. Gallagher, the company’s chairman and chief executive officer, said in a statement. “We are excited to enter into the U.S. options space and commence trading.”

The exchange’s trading platform was developed internally by the company, the statement said.

The company is planning a stock exchange and a futures market. The SEC must approve the equities venue before it can be introduced while the Commodity Futures Trading Commission must assess any application to start a futures exchange.

The company’s headquarters and technology development unit are in Princeton. Additional offices will be in Miami.

Copyright 2014 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome