Miami International Holdings' New MIAX Sapphire Options Trading Floor to Be Located in Wynwood, Miami

Miami International Holdings, Inc. (MIH), an American group formed in 2007 that operates global financial exchanges and execution services, and the parent company of the MIAX Exchange Group (MIAX Options, MIAX Pearl, MIAX Emerald), announced on Tuesday that its new MIAX Sapphire options physical trading floor will be located in the 545 Wyn building in Miami's Wynwood district.

The upcoming MIAX Sapphire exchange is set to become MIAX's fourth national securities exchange for U.S. multi-listed options. The exchange will operate both an electronic exchange and physical trading floor, with plans to launch the electronic exchange in the second quarter of 2024, while the physical trading floor is scheduled to go live in the latter half of 2024, pending regulatory clearance.

According to the announcement, the MIAX Sapphire trading floor will be the inaugural national securities exchange to establish its operations in Miami, Florida. It will comprise a next-generation trading floor, ancillary office space for MIAX employees and market participants, conference facilities, and broadcasting media area.

Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH, stated: "Miami's business-friendly culture, favorable tax environment and emergence as the 'Wall Street of the South' make the Wynwood district the ideal location to launch the new MIAX Sapphire trading floor. Mayor Levine Cava's office and the Miami business community have been very welcoming and receptive to our plans, and we are grateful for their support. We look forward to continued collaboration with the fast-growing Miami financial community as we expand MIAX's presence in the city."

Fazzaco previously reported that MIH had completed the acquisition of LedgerX​, a crypto derivatives exchange owned by FTX, in May. This acquisition is an important part of the Group's growth strategy, as it further expands the company's ability to offer new and innovative products to the swaps and futures industry.