Miami International Holdings (MIH) is set to list Bloomberg 500 Index futures and options on its MIAX exchanges in the second half of this year, subject to regulatory filings and approvals.
MIAX Bloomberg 500 Index futures will be listed on MIAX Futures, pending certain filings with the Commodity Futures Trading Commission (CFTC).
Elsewhere, MIAX Bloomberg 500 Index options will be listed on MIAX Options, subject to certain filings with and subject to approval from the Securities and Exchange Commission (SEC).
The new MIAX Bloomberg 500 futures and options products aim to provide competitive fees, increased product choice and more granular contract sizes, offering retail and institutional investors an alternative way to manage US equity market exposure.
“Our collaboration with MIH to list Bloomberg 500 Index futures and options on its MIAX exchanges reinforces our strategy of expanding the use of Bloomberg equity indices across the financial investment community,” said Umesh Gajria, global head of index-linked product at Bloomberg Index Services Limited.
“The introduction of these products answers significant pent-up demand for access to an alternative way of managing long and short exposure in the world’s most liquid equity market.”
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MIAX Bloomberg 500 Index futures and options are being developed to reach both retail and institutional investor preferences, with a H2 2025 target for trading.
In addition, Bloomberg 500 Index futures are expected to be the first financial future to be traded on the new MIAX Futures Onyx trading platform, pending filing with the CFTC.
“We are pleased to provide the industry with a suite of new futures and options products offering a competitive alternative to manage exposure to the 500 largest publicly traded US corporations,” said Thomas Gallagher, chair and chief executive at MIH.
“I believe our technology, support from strategic exchange members and Bloomberg’s distribution capabilities create a powerful combination to help answer industry demand for alternative ways to hedge and manage risk in US equities and options markets.”