In the mid 2000s, a New Jersey securities lawyer decided to start an options market. 13 years and $100 million later, that exchange has not only won substantial market share, but has set its sights on becoming a global exchange powerhouse. This is the story of MIAX:
MIAX isn't stopping at options. Using cash from their early success, MIAX is casting a broad net of investments to expand influence: LedgerX - crypto MGEX - volatility MIAX Pearl - equities Diamond Standard - diamond exchange Bermuda Stock Exchange - Latin Americapic.twitter.com/gD0VrePy8k
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MIAX's LedgerX investment came with some drama - MIAX allegedly tried to stage a hostile takeover as the cofounders were ousted:https://www.theblockcrypto.com/post/51055/board-member-alleges-ledgerx-chaos-as-company-announces-4m-in-new-financing …
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Bottom line - don't overlook the upstart exchange from Miami. MIAX won a seat at the table & is now buying their way to global relevance. I'm doing a full profile of MIAX in tomorrow's newsletter - sign up below so you don't miss it:https://frontmonth.substack.com/
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