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.
More from Sell Side Technology
Updating your subscription status
Entries to the Sell-Side Technology Awards 2015 now open
Entries to the 3rd annual Sell-Side Technology Awards are now open. The awards are open to all third-party vendors serving the sell side. Full entry criteria, the list of 2013 and 2014 winners, and descriptions of the 28 categories on offer for this year's program can be found on the SST Awards website.
The catalyst for change in client reporting is a more empowered, digitally aware consumer. Excellence of service delivery will be key to investment managers...
Without a consistent source of data and limited functionalities in existing systems, firms are unable to perform tasks that are becoming increasingly important...