Barring a setback, MIAX expects to have its application for options trading approved by Q3.
Miami International Securities Exchange (MIAX) has filed a Form 1 Application with the US Securities and Exchange Commission (SEC) to become a national securities exchange for the trading of options. Assuming SEC approval, the MIAX Options Exchange is planning to commence operations in September.
"We believe that those seeking liquidity will find MIAX to be more than competitive on execution price, execution cost, speed, reliability and customer service," says Shelly Brown, senior vice president of strategic planning and operations at MIAX. "We are excited to enter the market promptly upon receipt of the necessary SEC approval."
The Princeton, New Jersey-based exchange will use a proprietary trading platform and OneMarketData's OneTick tick data.