Miami International Holdings operates the MIAX family of U.S. options, equities, and futures exchanges, built largely on proprietary matching and market technology. Exchanges compete for order flow from market makers, brokers, and proprietary traders with differentiated fee models and trading protocols. The group has also expanded into international exchange ownership, positioning itself as a multi-asset electronic marketplace operator rather than a traditional broker-dealer.
| Quarter | Revenue | YoY % | Earnings | YoY % |
|---|---|---|---|---|
| Q2 2025 | 327.8 | — | 23.5 | — |
| Q3 2025 | 339.8 | — | -102.1 | — |
| Q4 2025 | 369.4 | — | 29.9 | — |
| Q1 2026 | 369.7 | — | 170.2 | — |
| Q2 2026 | 387.6 | 18.3% | 44.2 | 87.9% |
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