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NEW YORK - Miami International Holdings, Inc. (NYSE:MIAX), a $3.01 billion market cap exchange operator, reported record average daily volume (ADV) of 9.5 million option contracts for its exchange subsidiaries in August 2025, representing a 59.1% increase from the same period last year. According to InvestingPro data, the company has shown impressive revenue growth of ~20% over the last twelve months.
The MIAX Exchange Group, which includes MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire, set a daily volume record of 14.2 million contracts on August 22. The group also achieved a year-to-date market share of 16.5% of multi-list options volume through August. The company maintains a healthy financial position with a current ratio of 1.65, indicating strong liquidity to meet short-term obligations.
Overall U.S. equity options industry volume increased 25.5% year-over-year in August, with MIAX’s market share rising to 17.3% compared to 13.7% in August 2024.
MIAX Futures reported mixed results with August ADV declining 34.1% year-over-year to 11,190 contracts, but showing a 60.9% improvement from July. Year-to-date, MIAX Futures ADV reached 15,728 contracts, an 18.7% increase from the same period in 2024.
In equities trading, MIAX Pearl saw its ADV decrease by 7.0% compared to August 2024, while its market share fell to 1.0% from 1.6% a year earlier.
Miami International Holdings operates nine exchanges across multiple asset classes including options, futures, equities, and international markets. The company’s trading platforms are designed to meet high-performance quoting demands of the U.S. options trading industry. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with technical indicators showing overbought conditions. Subscribers can access 5 additional ProTips and comprehensive financial metrics at InvestingPro.
This information is based on a press release statement from Miami International Holdings.
In other recent news, Miami International Holdings has attracted significant attention from several financial firms as they initiated coverage on the company’s stock. Raymond James assigned a Market Perform rating, acknowledging MIAX’s consistent gains in the U.S. options market share since its inception in 2012. William Blair provided an Outperform rating, describing the company as an emerging player in the derivatives exchange sector. Similarly, Keefe, Bruyette & Woods also rated the stock as Market Perform, noting its position as the second largest multi-list options exchange in the U.S. by revenue. Piper Sandler initiated coverage with an Overweight rating and a $39.00 price target, reflecting the stock’s 52% appreciation since its IPO. Morgan Stanley also gave an Overweight rating, setting a $42.00 price target and highlighting a potential 17% upside. These developments indicate growing interest and varied perspectives from analysts on Miami International Holdings’ market position and future prospects.
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