Miax Options Exchange (Miax) announced today that it has recently entered into a Memorandum of Understanding (MOU) with the Taiwan Stock Exchange (TWSE) for mutual cooperation and information sharing.
The MOU signed by Sush-Der Lee, Chairman of TWSE, and Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX, marks the beginning of a collaborative relationship between the TWSE and MIAX. Cooperation on information sharing will facilitate the listing and trading of options on certain Exchange Traded Funds (ETFs) as well as certain indexes linked to TWSE listed stocks. MIAX also announced that on September 4, 2013, MIAX will begin listing Options on the iShares MSCI Emerging Markets ETF (Symbol: EEM), a highly traded ETF offering customers exposure to both Taiwanese companies and those in other emerging markets.
"We are excited to have established collaboration with the Taiwan Stock Exchange on this initiative and to enable our MIAX customers broader exposure to emerging markets, especially the Taiwan capital market," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. "The MOU will foster collaboration and information sharing between both exchanges, in addition to providing us with the opportunity to introduce MIAX to the international trading community as one of the premier options exchanges." Continued Gallagher, "We are looking forward to what we hope will be a mutually beneficial relationship with the Taiwan Stock Exchange for years to come."
In other news, Miami International Holdings, Inc. (MIH), the parent company of MIAX, announced today that it had entered into a contract effective as of August 30, 2013 to commence construction of its office located at 1450 Brickell Avenue in Miami, Florida. 1450 Brickell Avenue is a LEED Gold-certified, Class A office building in the heart of downtown Miami that rises 35 stories and features unparalleled views of the Miami skyline. Construction is slated to begin immediately, with an anticipated occupancy in the first quarter of 2014. MIH entered into a ten year lease for its Miami office.
The Miami office will house certain executive offices related to MIAX TechnoTechnologies and once operational the MIAX Equities Exchange, in addition to state-of-the-art multi-purpose training and meeting facilities and a conference center where issuers listed on the MIAX Equities Exchange will be provided with a unique setting dedicated to hosting their shareholder meetings. The Miami office will also contain state-of-the-art secure video and audio communications, which will enable issuers on the MIAX Equities Exchange to reach their shareholders and other constituent groups throughout the world during their annual or special shareholder meetings. The launch of the MIAX Equities Exchange and the listing of issuer securities on such exchange are subject to SEC approval.
MIAX also announced that it will host its first international exchange technology conference in Miami in 2014. Plans call for MIAX Technologies and MIAX to host various international technology conferences with foreign exchanges to assist and educate exchanges located in emerging markets in areas such as advanced information and cyber security, information technology development and management, and unique issues in connection with operating securities exchanges in the globalized exchange marketplace.