Minneapolis Grain Exchange (MGEX™) provides us with a vertically integrated futures exchange and clearing house to list futures and options on futures for new products exclusive to our exchanges.
The acquisition of MGEX provides us with access to the U.S. Futures market, positioning MIAX® as a multi-asset exchange operator.
This provides us an opportunity to become a substantial player in the futures market and grow our proprietary products suite. We are currently in the process of making significant investments in MGEX, to transform it from an agricultural-focused market to a full solution DCM and DCO, both in terms of product and technology.
Proprietary clearing technology
MGEX’s DCO employs a microservices driven real-time, end-to-end clearing solution based on VeriClear™, an elastically scalable and Artificial Intelligence (AI) powered system developed by Vermiculus Financial Technology AB.
The power of an unrestricted DCO
MGEX’s DCO is one of a limited number of unrestricted licenses in the U.S. that can offer margin on cleared positions, providing us with flexible DCO capabilities we can offer as a service to other exchanges.
MGEX’s DCM offers us the ability to list our own proprietary products and operates on the CME Globex trading system, offering global distribution for MGEX-listed products.