MIAX Enables OCC Cross-Margining and Launches Tini Bloomberg 100 Futures
MIAX Futures entered a settlement agreement with the Options Clearing Corporation enabling cross-margining of MIAX and other futures and options, reducing capital requirements for eligible members. The exchange launched Tini Bloomberg 100 Index Futures on May 17 and plans Bloomberg 500 Index Futures launches in early June.
1. Clearing and Settlement Agreement with OCC
MIAX Futures has formalized an agreement with the Options Clearing Corporation, allowing its members to cross-margin products listed on MIAX Futures against complementary offerings on MIAX exchanges and other markets. This integration enables OCC members to consolidate margin requirements and potentially lower capital costs while benefiting from OCC’s risk management services.
2. Bloomberg Index Futures Launch Schedule
MIAX Futures launched the Tini Bloomberg 100 Index Futures on May 17 (trade date May 18) and plans to introduce Tini Bloomberg 500 Index Futures on May 31, followed by full Bloomberg 500 Index Futures on June 7. These additions expand MIAX’s product lineup into equity index futures based on Bloomberg benchmarks.
3. Impact on Trading Efficiency and Revenue Potential
By leveraging OCC’s clearing and risk management capabilities, MIAX aims to enhance trading efficiency and attract higher volumes of financial futures. The cross-margining feature is expected to drive increased liquidity, boost transaction volumes, and generate additional fee income for the exchange.
4. Ongoing Agricultural Products Clearing
Alongside its new equity index contracts, MIAX Futures will continue to clear its flagship Minneapolis Hard Red Spring Wheat (HRSW) and other agricultural futures, maintaining operational continuity for its existing agricultural market participants.