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OCC welcomes MIAX Sapphire as newest participant exchange


13 August 2024 US
Reporter: Daniel Tison

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Image: hutter2U/stock.adobe.com
The Options Clearing Corporation (OCC) has enlisted MIAX Sapphire as its newest participant exchange.

With the addition of MIAX Sapphire, OCC can now provide clearing and settlement services to 21 exchanges and trading platforms for options, futures, and securities lending transactions, according to the firm.

MIAX Sapphire, a subsidiary of Miami International Holdings (MIH), launched its electronic exchange on 12 August to provide its clients with “a new exchange designed to meet their evolving demands for improved access to options liquidity”.

Thomas Gallagher, chairman and CEO of MIH, says: “The launch of our fourth US options exchange provides our market participants with access to 100 per cent of the multi-listed options market, all supported by our proprietary technology designed to enhance liquidity and promote improved price discovery.”

OCC CEO Andrej Bolkovic adds: “As the central counterparty clearing house for all US listed options, we are pleased to offer our clearing and settlement capabilities to MIAX Sapphire and to support the exchange-traded options industry’s continued growth.”
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