MIAX options volume surges in May on sustained market share gains

Miami International Holdings (NYSE:MIAX) reported sharp volume expansion across its options exchanges for May 2026, driven by an influx of retail and institutional derivatives trading that lifted the firm’s total market footprint.

The operator's primary options segments outpaced prior-year benchmarks, anchoring the business even as its smaller U.S. equities and agricultural futures platforms faced volume contractions.

For the multi-list options segment, year-to-date average daily volume climbed to 10.8 million contracts, representing a 23.7% increase compared to the same period in 2025.

This volume acceleration allowed MIAX to capture a 17.1% share of the highly competitive U.S. options market year-to-date, up from 16.4% a year earlier.

Looking strictly at the month of May, the momentum remained intact as MIAX options average daily volume hit 11.1 million contracts, an increase of 23.5% year-over-year.

The month also marked a strategic diversification milestone for the exchange operator with the launch of its Tini Bloomberg 100 Index Futures.

Trading for the new product, which debuted mid-month, generated an average daily volume of 13,105 contracts between May 18 and May 29, indicating initial liquidity adoption for the index offering.

The performance across MIAX's other asset classes was more subdued, reflecting broader shifting dynamics in equity and commodity market volatility.

In the cash equities space, the MIAX Pearl U.S. equities platform reported a year-to-date average daily volume of 179 million shares, marking a 3.4% decline compared to the previous year.

The drop left MIAX Pearl with a steady but unchanged 0.9% year-to-date market share in the U.S. stock trading ecosystem.

Concurrently, the exchange’s agricultural futures division experienced a more pronounced pullback.

MIAX Futures recorded a year-to-date agricultural average daily volume of 11,008 contracts, tumbling 35.3% year-over-year.