MIAX Selects Vermicullus for MGEX Real-Time Clearing

Miami International Holdings, Inc., owner of MIAX, MIAX PEARL, MIAX Emerald, Minneapolis Grain Exchange, and Bermuda Stock Exchange, announced that Vermiculus Financial Technology AB (Vermiculus) has been selected to deliver a real-time clearing solution for MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO). The system will provide clearing services based on VeriClear™, an elastically scalable and Artificial Intelligence (AI) powered real-time clearing system developed by Vermiculus. VeriClear™ is a multi-asset, microservices based clearing solution that enables clearing houses to monitor and manage positions and risk in real-time across multiple OTC and exchange–traded marketplaces. VeriClear™ is powered by innovative APIs and AI functionality for efficient communication and easy access to data, allowing faster product development capabilities and intelligent operations.