MIAX to Launch US Options Electronic Exchange and Physical Trading Floor

MIAX is set to launch a new US options electronic exchange and physical trading floor, following its application to the US SecurMiami International Holdings (MIH) – MIAX’s parent company – confirmed that a notice for its application for its newest options exchange had been published by the regulator. Once approved, the new options venue, named MIAX Sapphire, will commence electronic trading operations in the second quarter of 2024 followed by a physical trading floor that is set to be opened in Miami in the second half of the year, pending regulatory approval from the Securities and Exchange Commission (SEC) to become a national securities exchange. MIAX Sapphire will utilize taker-maker pricing and a price-time allocation model, as well as leverage the existing MIAX Exchange technology to minimize additional technology efforts for existing members.