Core Insights - The launch of the MIAX Sapphire options trading floor marks a significant milestone for MIAX, enabling access to 100% of the multi-listed options market [2] - Miami is emerging as a global financial center due to its favorable business climate, tax advantages, and growing talent pool in financial services [2] - MIAX Sapphire is the first national securities exchange trading floor in Miami and only the second open outcry trading floor to launch in the last 50 years [2] Company Overview - Miami International Holdings, Inc. (MIAX) operates nine exchanges across various asset classes, including options, futures, and equities [4] - MIAX Sapphire is MIAX's fourth national securities exchange for U.S. multi-listed options, complementing an electronic exchange launched in August 2024 [3] Facility Features - The MIAX Sapphire trading floor spans 38,400 square feet and is located on the ninth floor of the 545 Wyn building in Miami's Wynwood district [2] - The facility includes a state-of-the-art trading floor, office space, conference facilities, and a Bloomberg TV broadcast studio, designed for optimal sound quality, lighting, and layout [2][3] Technological Advancements - MIAX Sapphire utilizes proprietary technology aimed at maximizing liquidity and enhancing price discovery while automating manual processes to improve efficiency [3]