Robinhood Markets and Susquehanna International Group have completed the purchase of a 90% stake in MIAX’s derivatives exchange – MIAXdx – through a joint venture established by the two firms.
Thomas Gallagher
The deal, which was initially announced in November 2025, is expected to allow MIAX to gain increased exposure to prediction markets and expand the firm’s offering for both institutional and retail traders in this growing sector.
As part of the transaction, MIAX retains 10% of the issued and outstanding equity in the exchange and clearinghouse.
“Our sale of MIAXdx reaffirms our strategy of partnering with industry leaders to accelerate our growth strategies and we’re pleased to gain exposure to the growing prediction market through our retained equity stake in the exchange,” said Thomas Gallagher, chair and chief executive of MIAX.
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Specifically, MIAXdx is a Designated Contract Market (DCM) and Derivatives Clearing Organisation (DCO) which is approved to list and clear fully collateralised futures, options on futures and swaps.
Speaking on the completion of the deal, JB Mackenzie, vice president and general manager of futures and international at Robinhood, said: “The purchase of MIAXdx accelerates our investment in the prediction markets and improves our position to deliver a better experience for customers in this growing asset class.”
In January 2025, Miami International Holdings (MIH) collaborated with Bloomberg to list 500 Index futures and options on its MIAX exchanges.
Specifically, MIAX Bloomberg 500 Index options will be listed on MIAX Options, while the futures products will be listed on MIAX Futures.