United States Exchange Operator Miami International Holding (MIH) Files for NYSE (New York Stock Exchange) IPO to Raise $100 Million, Founded in 2007 by Thomas P. Gallagher, Investors Include Warburg Pincus
20th July | Hong Kong
United States exchange operator Miami International Holding (MIH) has filed for NYSE (New York Stock Exchange) IPO to raise $100 million. Miami International Holding (MIH) was founded in 2007 by Thomas P. Gallagher. Miami International Holding (MIH) investors include Warburg Pincus. Announcement (17/7/25): “Miami International Holdings, which operates the MIAX Exchange marketplaces spanning a variety of asset classes, filed on Friday with the SEC to raise up to $100 million in an initial public offering. Originally purpose-built for the US options trading industry, the company’s MIAX Exchange marketplaces now operate across a diverse number of asset classes, enabled by its proprietary technology. Its markets currently include: options through MIAX Options, MIAX Pearl, MIAX Emerald, and MIAX Sapphire; US equities through MIAX Pearl Equities; US futures and options on futures through MIAX Futures Exchange; and international listings through The Bermuda Stock Exchange and The International Stock Exchange Group. Miami International also owns Dorman Trading, a full-service Futures Commission Merchant, and LedgerX (dba MIAX Derivatives Exchange), for trading fully collateralized US futures and options on futures. For the six months ended June 30, 2025, average daily volume in US options on the MIAX Exchanges was 8.7 million contracts, as compared to 6.5 million contracts in the same period in 2024. The Princeton, NJ-based company was founded in 2007 and booked $1.2 billion in revenue for the 12 months ended March 31, 2025. It plans to list on the NYSE under the symbol MIAX. Miami International Holdings filed confidentially on April 26, 2022. J.P. Morgan, Morgan Stanley, Piper Sandler, Keefe Bruyette Woods, Raymond James, and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.”
“ United States Exchange Operator Miami International Holding (MIH) Files for NYSE (New York Stock Exchange) IPO to Raise $100 Million, Founded in 2007 by Thomas P. Gallagher, Investors Include Warburg Pincus “
Miami International Holding – MIH is the parent holding company of Miami International Technologies, LLC (MIAX Technologies) and MIAX Global, LLC (MIAX Global). MIAX Technologies is MIH’s technology subsidiary for the sale and/or license of the trading technology developed by the MIAX Exchange Group. MIAX Global focuses on merger, acquisition and joint venture activities of MIH. MIAX Global also provides technology and other services outside of North America, with its initial concentration being on Europe and Latin America.
MIAX – MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), MIAX Sapphire, LLC (MIAX Sapphire™), Minneapolis Grain Exchange, LLC (MGEX™), Ledger X LLC d/b/a MIAX Derivatives Exchange (MIAXdx™), The Bermuda Stock Exchange (BSX™) and Dorman Trading, LLC (Dorman Trading). MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism. MIAX also serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY). MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Hard Red Spring Wheat Futures. MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes. MIAXdx is a CFTC regulated exchange and clearinghouse and is registered as a DCM, DCO, and Swap Execution Facility (SEF) with the CFTC. BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities. Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC. MIAX’s executive offices and National Operations Center are located in Princeton, N.J., with additional U.S. offices located in Chicago, IL and Miami, FL. MGEX offices are located in Minneapolis, MN. MIAXdx offices are located in Princeton, N.J. BSX offices are located in Hamilton, Bermuda. Dorman Trading offices are located in Chicago, IL.
United States Exchange Operator Miami International Holding (MIH) Files for NYSE (New York Stock Exchange) IPO to Raise $100 Million, Founded in 2007 by Thomas P. Gallagher, Investors Include Warburg Pincus
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