Trading floor for Sapphire Options, a financial trading company, officially opens its doors in Miami
Miami International Holdings, Inc. has made history by launching the MIAX Sapphire options trading floor in Miami, Florida. The new trading floor, located on the ninth floor of the 545 Wyn building in the Wynwood district, is a significant addition to the city's growing reputation as Wall Street South.
MIAX Sapphire, MIAX's fourth national securities exchange for U.S. multi-listed options, operates both an electronic exchange that launched in August 2024 and a physical trading floor spanning 38,400 square feet. The physical trading floor, only the second open outcry trading floor to launch in the last 50 years, was designed with special attention to sound quality, lighting, sight lines, and ensuring the optimal layout for market participants.
Thomas P. Gallagher, Chairman and CEO of MIAX, expressed his excitement about the launch, stating that market participants now have access to 100% of the multi-listed options market. The new trading floor, like the electronic exchange, aims to maximize liquidity and enhance price discovery, and it also aims to automate many of the manual processes inherent in legacy exchanges to increase efficiency.
The physical trading floor provides access to the multi-listed options market, along with the electronic exchange. MIAX Sapphire's technology, powered by MIAX's signature, proprietary technology, is intended to maximize liquidity and enhance price discovery, similar to the electronic exchange.
The launch of the MIAX Sapphire trading floor reinforces Miami's growing reputation as Wall Street South and expands MIAX's presence in its namesake city. The new trading floor features a state-of-the-art trading floor, office space, conference facilities, and a Bloomberg TV broadcast studio. MIAX Group created a new business segment with the opening of the MIAX Sapphire Options trading floor in Miami, Florida; MIAX Sapphire was founded on July 12, 2021.
With the launch of the MIAX Sapphire trading floor, Miami International Holdings, Inc. has solidified its position as a leader in the multi-listed options market, providing a modern, efficient, and accessible platform for market participants. The opening of the MIAX Sapphire trading floor marks an important milestone in the evolution of the financial industry in Miami and beyond.
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