PRINCETON, N.J. and HAMILTON, Bermuda, Sept. 21, 2021 /PRNewswire/ — MIAX®, creator and operator of high-performance securities exchanges, products and services, today announced that the Bermuda Stock Exchange (BSXTM), a wholly-owned subsidiary of Miami International Holdings, Inc., the parent company of MIAX, has successfully commenced publishing MIAX Pearl EquitiesTM market data for 10 actively traded U.S. companies to the Pyth Network. This is the first initiative by BSX to provide high fidelity data to the Pyth Network. Bermuda is recognized as having a strong fintech and digital regulatory framework created by the Bermuda Government with the passage of the Digital Asset Business Act of 2018 (DABA).
MIAX Pearl Equities market data is among the first U.S. equities exchange market data provided to the Pyth Network and was first published to the Pyth Network on September 13, 2021. BSX is publishing market data based on MIAX Pearl Equities top of book for selected symbols which is conflated and submitted to the Pyth Network at 400ms intervals to adhere to the requirements of the network.
“BSX is delighted to begin publishing MIAX Pearl Equities market data to the Pyth Network and anticipates we will quickly expand the breadth of data we are publishing to the network,” said Thomas P. Gallagher, Chairman of BSX and Chairman & CEO of MIAX. “Publishing high fidelity U.S. equity market data to the Pyth Network represents a critical initiative to participate in a market data oracle designed to support the DeFi markets of tomorrow.”
The initial set of 10 companies being published to the Pyth Network include Apple Inc. (AAPL), AMC Entertainment Holdings Inc. (AMC), Amazon.com Inc. (AMZN), General Electric Inc. (GE), Game Stop Inc. (GME), Google Inc. (GOOG), Netflix Inc. (NFLX), Invesco QQQ Trust Series 1 ETF (QQQ), SPDR S&P 500 ETF Trust (SPY) and Tesla Inc. (TSLA).
Dave Olsen, President and Chief Investment Officer at Jump Trading Group, added, “The success of the Pyth Network is closely aligned with the quality of the market data being published to the oracle. The addition of MIAX Pearl Equities market data represents a critical inflection point for the Pyth Network as the availability of high fidelity market data from U.S. equities exchanges is unprecedented in DeFi.”
Corporate Communications Contacts:
MIAX/BSX
Andy Nybo, SVP, Chief Communications Officer
609-524-3272
anybo@miami-holdings.com
About 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®), the Minneapolis Grain Exchange, LLC (MGEX), and the Bermuda Stock Exchange (BSX).
MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission (SEC) that leverage MIAX’s industry-leading technology and infrastructure to provide U.S. listed options trading to their member firms. MIAX 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). In addition to options, MIAX Pearl facilitates the trading of cash equities through MIAX Pearl Equities™.
MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and is a Notice Registered Securities Futures Product Exchange with the SEC. MGEX serves as the exclusive market for a variety of products, including Hard Red Spring Wheat and SPIKES Futures. In addition, MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM, DCO and cash market services in an array of asset classes.
BSX is a leading electronic international securities market regulated by the Bermuda Monetary Authority (BMA) specializing in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance linked securities. A full member of the World Federation of Exchanges and affiliate member of the International Organization of Securities Commissions, the BSX is globally recognized, including by the SEC.
MIAX’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL, Minneapolis, MN, and Hamilton, Bermuda.
To learn more about MIAX visit www.MIAXOptions.com.
To learn more about MGEX visit www.mgex.com.
To learn more about the BSX visit www.BSX.com.
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company), and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
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