Princeton, NJ and San Jose, Calif. – August 16, 2012 – Miami International Securities Exchange, LLC ("MIAX") announced today that it has selected Cisco's ultra-low latency intelligent network infrastructure for the trading platform of the MIAX Options Exchange, a fully-electronic options exchange planning to commence operations in late September 2012, subject to SEC approval. MIAX's experienced technology team worked closely with Cisco Channel Partner, Continental Resources Inc., to develop an intelligent networking infrastructure to meet the unique demands of a high-speed trading environment. As a result, the MIAX Options Exchange trading platform was designed from the ground up to address the highly secure, functional and high performance demands of the derivatives market.
- Being built on Cisco's networking infrastructure will enable the MIAX Options Exchange trading platform to provide extremely high performance, best in class customer interfaces for a better customer experience, and state-of-the-art monitoring, systems security and automated continuous testing to ensure high reliability of network infrastructure.
- Cisco's networking infrastructure will facilitate co-location in dual data centers, and allow MIAX POP's (Point of Presence) to be available for routing to a third disaster recovery data center. It will also enable a software architecture that results in minimizing the demands on power, space, and cooling while allowing for rapid scalability, resiliency and fault isolation.
- Cisco Nexus 3000 and Nexus 5000 series switches will enable the MIAX Options Exchange trading platform to offer protection, high performance and exceptional throughput to deliver a high quality customer experience.
- Cisco Nexus 3000 series switches offer Layer 2/Layer 3 switching at ultra-low latencies to deliver an extremely high performance infrastructure for high speed trading workloads, and in the process consume less power and support multiple connectivity, which will reduce the cost and size of the MIAX's data center footprint.
Frank Ziegler, senior vice president of Systems Infrastructure at MIAX
"After a rigorous evaluation of industry-leading vendors and testing in our data center, we found that the technological capabilities and roadmap offered by the Cisco Nexus 3000 ultra-low latency network infrastructure were perfectly aligned to support the high speed trading requirements of the MIAX Options Exchange. The Cisco Nexus 3000 and Nexus 5000 based intelligent network infrastructure created a stable, reliable network, which is essential to the value that the MIAX Options trading platform will bring to the traders on our exchange."
David Yen, senior vice president of Data Center Group at Cisco
"Cisco is focused on transforming how the network drives business innovation. We developed the Cisco Nexus 3000 switching series to provide high speed trading environments with a highly secure, high performance, ultra-low latency reliable network platform. By delivering Cisco's intelligent high performance network infrastructure as part of its options trading platform, the MIAX Options Exchange is providing a trading platform with the proper protections, latency, and throughput to give its trading community a competitive advantage."
- For further information regarding the MIAX Options Exchange including key milestone dates, member on-boarding and technology requirements
please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.
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Tags/Keywords: High Frequency Trading, Miami International Holding, MIAX, Networking, Cisco, Nexus 5000, Nexus 3000, Nexus switch, Data Center
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About Miami International Securities Exchange, LLC
Miami International Securities Exchange, LLC (MIAX) is a wholly-owned subsidiary of Miami International Holdings, Inc. (MIH). MIAX has assembled a team with deep rooted experience in developing, operating and trading on options exchanges. The initial focus of MIH is to leverage management's expertise and relationships in the equity options space to launch the MIAX Options Exchange. MIAX intends to launch the MIAX Equities Exchange once the MIAX Options Exchange is operational and plans to pursue Latin American equity listings. The launch of the MIAX Options Exchange and the MIAX Equities Exchange is subject to SEC approval. The vision for the MIAX Equities Exchange 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. MIAX believes that Miami 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 the MIAX because of its presence in Miami. The MIAX Futures Exchange is also planned as a follow-on initiative. The launch of the MIAX Futures Exchange is subject to CFTC approval.
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of MIH, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning the plans, objectives, expectations and intentions and other statements that are not historical or current facts of MIH, together with its subsidiaries, including MIAX (the "Company"). Forward-looking statements include, but are not limited to, statements about the possible or assumed future results of operations of the Company; the competitive position of the Company; potential growth opportunities available to the Company; the expectation with respect to securities, options and future markets and general economic conditions; the effects of competition on the Company's business; and the impact of future legislation and regulatory changes on the Company's business. Forward-looking statements are based on the Company's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements.
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