Miami International Holdings, Inc., a technology-driven leader in building and operating regulated financial markets across multiple asset classes, received a $100m investment from Warburg Pincus.
Subject to certain conditions, Warburg Pincus may expand its investment in MIH to support additional growth.
The growth investment will accelerate the next phase of Miax’s global expansion as it executes on its strategy of building a diversified revenue stream across multiple asset classes and geographies. Among other uses, the investment will fund the construction and fit-out of a physical trading floor in Miami, Florida for MIAX Sapphire, MIH’s fourth national securities exchange for trading U.S. multi-listed options. MIAX Sapphire will operate both an electronic exchange and physical trading floor. The electronic exchange launched on August 12, 2024, with the trading floor in Miami scheduled to go live in 2025.
MIAX Sapphire will be the first national securities exchange to establish operations in Miami. The new trading facility will include a next-generation trading floor, ancillary office space for MIAX employees and market participants, conference facilities and broadcast media space.
The investment will also support further growth and expansion of MIH’s agricultural and financial futures businesses on its two U.S. futures exchanges, Minneapolis Grain Exchange (MGEX) and MIAXdx including the development of new matching engine and clearing technology using MIH’s proprietary technology. Additionally, the investment will fund the company’s expansion plans into international markets including the development and trading of new proprietary and other financial products.
FinSMEs
22/08/2024