Miami International Holdings, Inc. (MIAX)

Miami International Holdings, Inc. (MIAX) is a technology-driven operator of financial exchanges and clearing services, headquartered in Princeton, New Jersey. The company completed its initial public offering on the New York Stock Exchange in 2025.

Its core business is U.S. options trading, run through several separately licensed exchanges: MIAX Options, MIAX Pearl, MIAX Emerald and MIAX Sapphire. It also operates the MIAX Pearl Equities exchange for cash equities trading. Through MIAX Futures, formerly the Minneapolis Grain Exchange, it offers futures and options on futures together with clearing, including the benchmark hard red spring wheat contract.

The company also owns the Bermuda Stock Exchange and has invested in other market infrastructure ventures. It develops its own trading and matching technology in-house, and its revenue comes mainly from transaction fees, market data and access and connectivity services.