A Miami Stock Exchange is set to launch in under a year, according to the WSJ.
It will be run by Miami International Holdings Inc. which is actually headquartered in New Jersey, but has offices at 1450 Brickell. Opening is set for late 2019 or early 2020, the CEO of the company said in an interview, pending approval by regulators.
The company already launched the Miami Options Exchange several years ago, and controlled about 10% of the U.S. options market last year.
According to the company’s website, the MIAX Equities Exchange plans to pursue Latin American equity listings:
The vision for MIAX Equities is to become a marketplace that enables access to the Latin American markets, a place where global Hispanic entrepreneurs can seek capital and growth opportunities, and an exchange where Latin American companies will want to be listed. MIH believes that Miami, Florida, is the ideal location for taking advantage of the rapidly developing business opportunities emanating from the Americas and that Latin American companies will be interested in listing on MIAX and MIAX Equities because of the company’s presence in Miami. The launch of MIAX Equities is subject to SEC approval.
The MIAX Futures Exchange is also being planned as a follow on initiative, pending approval by the U.S. Commodity Futures Trading Commission.
(photo: phillip pessar)