PRINCETON, New Jersey, Feb. 6, 2015 / PRNewswire — MIAX Options Exchange (MIAX) announced today that it has received the 2015 Wall Street Letter Trading Award for “Best Infrastructure / Technology Initiative by an Exchange / ATS” by a panel of independent judges. The Wall Street Letter Institutional Trading Awards recognize excellence among providers to the institutional trading industry for innovation and achievement over the past year.
“We are honored to be named a 2015 Wall Street Letter Institutional Trading Award winner,” said Frank Ziegler, Senior Vice President – Systems Infrastructure of MIAX. “We would like to thank the Wall Street Letter judges for recognizing MIAX for our contributions to the institutional trading industry through our innovation and achievements in exchange infrastructure and various technology initiatives.”
Douglas M. Schafer, Executive Vice President and Chief Information Officer of MIAX, said, “This award reflects the high level of skill and dedication of our technology team, and represents a culmination of many years of planning and implementation. At MIAX we have made a commitment to providing our member firms with best available exchange technology and trading experience. This commitment begins with our infrastructure, which we are continuously evaluating and updating through technology initiatives to remain ahead of the ever-changing options industry.”
“We would like to acknowledge the efforts of Frank Ziegler and Doug Schafer for the development and oversight of MIAX’s infrastructure. The hard work of Frank, Doug and many others on our MIAX technology team was instrumental in our infrastructure being recognized for its excellence by the Wall Street Letter,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX.
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About MIAX and MIH
MIAX, which commenced operations on December 7, 2012, is a fully electronic options trading exchange approved by the SEC as a national securities exchange on December 3, 2012. MIAX has assembled a team with deep rooted experience in developing, operating and trading on options exchanges. Its trading platform has been developed in-house and designed from the ground up for the unique functional and performance demands of derivatives trading. MIAX Options now lists and trades options on the majority of the top 1,400 multi-listed classes. The MIAX Options Exchange’s unparalleled system throughput is in excess of 27 million quotes per second. The average latency for a single quote on MIAX is approximately 24.7 microseconds for a full round trip. At the 99th percentile, the latency on MIAX is approximately 39.7 microseconds. At the 99.9th percentile, the latency on MIAX is approximately 102.4 microseconds. The MIAX executive offices and technology development center as well as the National Operations Center for the MIAX Options Exchange are located in Princeton, New Jersey.
MIAX and Miami International Technologies, LLC (MIAX Technologies) are wholly-owned subsidiaries of Miami International Holdings, Inc. (MIH). MIAX Technologies is the Company’s technology subsidiary for the sale and/or license of MIAX trading technology. MIAX intends to launch the MIAX Equities Exchange and plans to pursue Latin American equity listings. The launch of the MIAX Equities Exchange is subject to SEC approval. The MIAX Futures Exchange is also planned as a follow-on initiative. The launch of the MIAX Futures Exchange is subject to CFTC approval.
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of MIH, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning the plans, objectives, expectations and intentions and other statements that are not historical or current facts of MIH, together with its subsidiaries, including MIAX (the Company). Forward-looking statements include, but are not limited to, statements about the possible or assumed future results of operations of the Company; the competitive position of the Company; potential growth opportunities available to the Company; the expectation with respect to securities, options and future markets and general economic conditions; the effects of competition on the Company’s business; and the impact of future legislation and regulatory changes on the Company’s business. Forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements.