Miami and Princeton, New Jersey, November 3rd / PRNewswire / -- Miami International Holdings, Inc. ( MIAX ®) (New York Stock Exchange ticker: MIAX) Today, MIAX Options ® announced that it has submitted a proposed rule filing to the U.S. Securities and Exchange Commission ( SEC ), planning to introduce cash-settled binary index options on one or more of its SEC listed exchanges – including contracts based on its exclusively licensed Bloomberg stock indices – as well as cash-settled binary options linked to the company's key performance indicators ( KPI ), subject to regulatory review results. This submission marks the first step in introducing binary options to customers of its SEC exchanges.
MIAX Chairman and Chief Executive Officer Thomas P. Gallagher stated: "Investors are increasingly seeking event-driven exposures, whether it's whether the benchmark index closes above or below a certain level, or whether the company meets a specified performance indicator. We believe that combining binary option contracts with our Bloomberg index business and the KPI disclosed by the company is an important step in expanding our own products."
The planned binary index options will allow market participants to speculate on the closing results of a wide range of index benchmarks, such as whether the Bloomberg ® 500 ( B500 ) index or the Bloomberg 100 ( B100 ) index will close above or below a specified level at expiration. Subject to SEC review and meeting operational readiness requirements, MIAX plans to launch these binary index options in 2027. These contracts will be cleared and settled by Options Clearing Corporation ( OCC ).
The planned KPI binary options will allow market participants to take positions based on specific and objective performance indicators disclosed by listed companies in their SEC documents, such as revenue, earnings per share, or other disclosed operational data, and to compare them with preset thresholds. The launch date for the KPI binary options will be announced later, also depending on the SEC review as well as the readiness of operations and settlement processes.
SEC classifies binary options as securities options, which means they are subject to the same regulatory guidelines and customer protection measures as traditional American-listed options. This structure provides institutional-level liquidity, clear market transparency, and strict regulation, while also offering several other advantages.
About MIAX
Miami International Holdings, Inc. (New York Stock Exchange ticker: MIAX) is a technology-driven company dedicated to building and operating regulated financial markets across multiple asset classes and regions. __BJWKEEP_00011® operates eight exchanges covering options, futures, stocks, and international markets, including __BJWKEEP_00002®, __BJWKEEP_00003®, __BJWKEEP_00004®, __BJWKEEP_00005®, __BJWKEEP_00006™, __BJWKEEP_00007®, the Bermuda Stock Exchange (BSX), as well as the International Stock Exchange (TISE). __BJWKEEP_00014 also owns Dorman Trading, which is a full-service futures broker and registered brokerage dealer affiliated with the National Futures Association, aimed at facilitating securities and futures trading. For more information, please visit www.miaxglobal.com.
Disclaimer and Forward-Looking Statements Notice
This press release contains forward-looking statements, including those defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies, and are typically preceded by words such as “may,” “future,” “plans,” “is planned,” “will,” “should,” “expected,” “anticipated,” “ultimately,” or “is expected to.” Please note that such statements are based on management’s current expectations and are subject to a number of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those predicted in the forward-looking statements, including the risk that actual results may differ significantly from those anticipated. Other risks and uncertainties that could lead to differences in actual results include those listed in the public documents submitted by MIAX to the U.S. Securities and Exchange Commission. The company assumes no obligation or responsibility to publicly update these statements due to new information, future events, or other reasons.
Trading in securities, options, futures, futures options, or other financial instruments involves risk and is not suitable for all investors. Any trading is at the sole risk of the respective investors, who must always comply with local laws and applicable regulatory provisions. MIAX and its subsidiaries are not registered or licensed to provide, nor do they claim to provide, any type of financial services in any jurisdiction where they are not authorized to conduct business, or where their distribution activities conflict with local laws and regulations.
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