On Monday, the Options Industry Council (OIC) announced that the?MIAX Options Exchange (MIAX) has become its newest member. It will join OCC, its member firms and the other OIC exchanges to help promote the responsible use of equity options through education.
As OIC member No. 11, MIAX joins the following: BATS Options, BOX Options Exchange, Chicago Board Options Exchange, C2 Options Exchange, International Securities Exchange, NASDAQ OMX PHLX, NASDAQ Options Market, NYSE Amex Options, NYSE Arca Options, OCC. ??
Thomas P. Gallagher, MIAX?s Chairman and Chief Executive Officer, said in a press release,??We are excited to be the newest member of the OIC following the successful launch of the MIAX Options Exchange. At MIAX we recognize the importance of continued investor education to provide them with a better understanding of the markets, and we will pride ourselves in helping promote the responsible use of equity options through the educational initiatives made possible by the OIC.?
Gina McFadden, OIC President, said of MIAX,??We are very pleased to announce the addition of MIAX as a member of OIC. With the expansion of the options markets and OIC?s increased outreach to different investor channels in the U.S. and abroad, we welcome the additional perspective MIAX brings to our programs.?
MIAX is a wholly-owned subsidiary of Miami International Holdings, Inc. and it is a fully automated electronic options exchange. It began its trading operations in December 2012.?
For January 2013, MIAX’s market share for total options was 0.05 percent with equity options market share at 0.06 percent.