MIAX Files Rules with SEC to Launch Binary Options Products

Miami International Holdings, Inc. submitted proposed rule filings to the Securities and Exchange Commission to offer cash-settled binary index options and binary options tied to company key performance indicators (KPIs) on its registered exchanges. These filings mark the first step toward launching binary options for the company's customers. The index options would allow participants to bet on whether a broad-based index, such as the Bloomberg 500 Index, finishes above or below a stated level at expiration.

The introduction of these products expands the proprietary offerings of Miami International Holdings, Inc. and provides market participants with new event-driven exposure. The options would clear and settle through the Options Clearing Corporation, pending regulatory review by the Securities and Exchange Commission.