MIAX Miami International Holdings (MIAX) Q1 FY26 earnings call
Miami International Holdings delivered a strong quarter, driven by record revenue and significant margin expansion, primarily fueled by its robust options business and favorable market volatility. The company is strategically investing in new offerings, including the upcoming launch of Bloomberg Equity Index futures, while maintaining a strong balance sheet for future growth and opportunistic acquisitions. Management emphasized a focus on balancing market share with capture rates in its core options franchise.
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MIAX operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Market share multi-listed options | 17.3%Our market share in multi-listed options was 17.3% in the first quarter, up from 16% in the prior year period.Source: earnings call transcript | 16.5%Our second quarter market share in multi-listed options was 16.5%, essentially flat versus the prior year period and a bit lower than what we saw in the first quarter.Source: earnings call transcript | -0.8 pt |
| Average daily volume Options | 10.9MThis represents average daily volume of 10.9 million contracts, a 27% year-over-year increase that outpaced industry ADV of 17%.Source: earnings call transcript | 11MThis represents average daily volume of 11 million contracts, a 25% year-over-year increase that was in line with industry ADV growth.Source: earnings call transcript | +0.9% |
| Market share options | 17.3%Our options market share for the quarter was 17.3%, up year-over-year, but down slightly on a sequential basis.Source: earnings call transcript | 16.5%Q2 options market share was 16.5%, relatively flat year-over-year and down from 17.3% in the first quarter.Source: earnings call transcript | -0.8 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.