MIAX Files SEC Proposals for Cash-Settled Binary Index and KPI Options
Miami International Holdings, Inc. (MIAX) has submitted proposed rule filings to the SEC to introduce cash-settled binary index options and KPI-based binary options on its regulated exchanges. The binary index options will utilize exclusively licensed Bloomberg equity indices, such as the Bloomberg 500 and Bloomberg 100, allowing investors to bet on whether an index finishes above or below a specific level. The proposed KPI binary options would allow market participants to gain exposure to objective corporate metrics reported in SEC filings, including revenue and earnings per share. If approved by regulators, MIAX plans to launch the binary index options in 2027, with clearing handled by The Options Clearing Corporation (OCC).
Topics: Binary Options Financial Derivatives Index Options SEC Filings