American Financial Group, Inc. trading operator Miami International Holdings, Inc. (MIAX.US) applies for listing in the United States with a planned fundraising of US$100 million.

The operator of the American financial exchange, Miami International Holdings (MIH), submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) last Friday, aiming to raise up to $100 million. The company plans to list on the New York Stock Exchange with the stock code "MIAX". The company has not disclosed pricing terms yet. According to the information, Miami International Holdings was established in 2007 and mainly operates global financial trading platforms and execution services. Using its proprietary technology, the company's MIAX exchange platform has expanded to multiple asset classes, including MIAX Options, MIAX Pearl, MIAX Emerald, and MIAX Sapphire for options markets, MIAX Pearl Equities for U.S. stock markets, MIAX Futures Exchange for U.S. futures and futures options markets, as well as Bermuda Stock Exchange and International Securities Exchange Group for international listing markets. In addition, Miami International Holdings also owns the subsidiaries Dorman Trading, a full-service futures commission merchant, and LedgerX (operating as MIAX Derivatives Exchange), providing fully collateralized U.S. futures and futures options trading services. For the six-month period ending June 30, 2025, the average daily trading volume of U.S. options on the MIAX exchange platform was 8.7 million contracts, compared to 6.5 million contracts in the same period in 2024. The company had revenues of $1.2 billion for the twelve months ending March 31, 2025.