The Options Clearing Corporation (OCC) has confirmed that MIAX Sapphire has become the newest options exchange participant.
Andrej Bolkovic
Andrej Bolkovic, chief executive of OCC, said: “OCC congratulates MIH on the launch of its fourth listed options exchange. As the central counterparty clearinghouse for all US listed options, we are pleased to offer our clearing and settlement capabilities to MIAX Sapphire and to support the exchange-traded options industry’s continued growth.”
Miami International Holdings (MIH) – MIAX’s parent company – confirmed on Tuesday 17 October that it was set to launch a new US options electronic exchange and physical trading floor, following its application to the US Securities and Exchange Commission (SEC) to become a national securities exchange.
The MIAX Sapphire electronic exchange officially launched on 12 August 2024 and is MIAX’s fourth US listed options exchange.
Thomas Gallagher, chair and chief executive of MIH, explained that “[the] launch of MIAX Sapphire provides our members, liquidity providers and market makers with a new exchange designed to meet their evolving demands for improved access to options liquidity.
“The launch of our fourth US options exchange provides our market participants with access to 100% of the multi-listed options market, all supported by our proprietary technology designed to enhance liquidity and promote improved price discovery.”