Miami International Holdings (MIH) announced the renaming of its wholly-owned subsidiary, Minneapolis Grain Exchange (MGEX), to MIAX Futures Exchange.
MIH Renames Minneapolis Grain Exchange to MIAX Futures Exchange
The rebranding of the exchange is said to align with MIH’s broader strategy to expand its futures offerings, leveraging the technology and expertise of MGEX.
MIH said the flagship Hard Red Spring Wheat (HRSW) futures and options contracts will also be rebranded as Minneapolis Hard Red Spring Wheat futures and options, representing a new chapter for the exchange, which was established in 1881 and acquired by MIH in 2020.
Thomas Gallagher, Chairman and Chief Executive Officer of MIH, said: “MIAX Futures is positioned to be a key part of our strategy as we expand the range of products we offer to the industry, including the new equity index products we plan to list in collaboration with Bloomberg Index Services.”
Troy Kane, President of MIAX Futures, highlighted that the new name reflects the exchange’s ambition to broaden its product range beyond agricultural commodities.
The upcoming rollout of the MIAX Futures Onyx matching engine is expected to provide a “powerful platform to offer innovative agricultural and financial futures products to the marketplace.”
MIAX Futures is a fully electronic futures exchange and clearing house registered with the CFTC as a DCM and DCO. MIAX’s parent company, Miami International Holdings, also owns MIAX Pearl, MIAX Emerald, MIAX Sapphire, MIAX Derivatives Exchange (MIAXdx), The Bermuda Stock Exchange (BSX), and Dorman Trading.
