Miami International Holdings, Inc., a technology-driven leader in building and operating regulated financial markets across multiple asset classes, announced the successful launch of the MIAX Sapphire® options trading floor in Miami, Florida.
“The launch of the new MIAX Sapphire trading floor is a pivotal milestone for MIAX, as we are now able to offer our market participants access to 100% of the multi-listed options market,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. “Miami is quickly emerging as a major global financial center as a result of its business climate, favorable tax advantages and an expanding talent pool of financial services professionals. Launching the city’s first trading floor reinforces Miami’s growing reputation as Wall Street South and greatly expands our presence in our namesake city.”
MIAX Sapphire is the first national securities exchange to open a trading floor in Miami and only the second open outcry trading floor to launch in the last 50 years. The 38,400-square-foot facility spans the ninth floor of the 545 Wyn building in Miami’s Wynwood district, with panoramic views of the city’s skyline. Its features include a state-of-the-art trading floor, office space, conference facilities and a Bloomberg TV broadcast studio. The trading floor was designed with special attention to sound quality, lighting, sight lines and ensuring the optimal layout for market participants.
“We worked closely with our member firms to build a modern trading floor meticulously designed to support the complex needs of the U.S. options industry,” said Douglas M. Schafer, Executive Vice President and Chief Information Officer at MIAX. “MIAX Sapphire is powered by our signature, proprietary technology intended to maximize liquidity and enhance price discovery, while automating many of the manual processes inherent in legacy exchanges to increase efficiency.”
MIAX Sapphire is MIAX’s fourth national securities exchange for U.S. multi-listed options and operates both an electronic exchange that launched in August 2024 as well as the physical trading floor.
Source: MIH
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