07.11.2025

MIAX Reaches Record Options Market Share in Q2

07.11.2025
MIAX Reaches Record Options Market Share in Q2

Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, reported June 2025 trading results for its U.S. exchange subsidiaries—MIAX®, MIAX Pearl®, MIAX Emerald® and MIAX Sapphire™ (collectively, the MIAX Exchange Group), and MIAX Futures™.

June 2025 Trading Volume and Market Share Highlights

  • Total multi-listed options volume for the MIAX Exchange Group reached 164.4 million contracts in June 2025, a 42.9% increase year-over-year (YoY), bringing total year-to-date (YTD) volume to a record 1.1 billion contracts. June 2025 market share reached 16.2%, an 18.4% increase YoY. MIAX Exchange Group volume and market share reached record quarterly levels in Q2 2025 at 543.6 million contracts and 16.7%, respectively.
  • MIAX Sapphire reached a monthly volume of 32.4 million contracts, with June 2025 market share reaching 3.2%. Volume and market share reached record levels in Q2 2025 at 104.8 million contracts and 3.2%, respectively. MIAX Sapphire launched trading on August 12, 2024 and now has over 3,800 classes available for trading.
  • MIAX Options reached a monthly volume of 73.1 million contracts, a 42.7% increase YoY. June 2025 market share reached 7.2%, an 18.2% increase YoY. YTD volume and market share reached record levels at 463.3 million contracts and 7.2%, respectively.
  • MIAX Pearl Options reached a monthly volume of 24.6 million contracts, a 23.4% decrease YoY. June 2025 market share reached 2.4%, a 36.5% decrease YoY.
  • MIAX Emerald reached a monthly volume of 34.2 million contracts, an 8.3% increase YoY. June 2025 market share reached 3.4%, a 10.3% decrease YoY. YTD volume and market share reached record levels at 249.9 million contracts and 3.9%, respectively.
  • In U.S. equities, MIAX Pearl Equities™ reached a monthly volume of 3.7 billion shares, a 23.6% increase YoY and representing a market share of 1.0%, a 23.6% decrease YoY.
  • In U.S. futures, MIAX Futures, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reached a monthly volume of 470,612 contracts, a 36.0% increase YoY. YTD volume totaled a record 2.2 million contracts, a 36.6% increase YoY.

Sourc: MIAX

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