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.
Minneapolis Grain Exchange
Established in 1881, MGEX is a fully electronic, vertically integrated futures exchange and clearinghouse. Our Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) registrations enable us to offer vertically integrated products and services in futures.
The value of our DCM and DCO licenses
We believe that MGEX’s unrestricted DCM and DCO licenses are highly valuable which allow us to offer margin on cleared futures positions.
A regulated platform for digital assets
We have a unique opportunity to develop regulated products in the cryptocurrency and digital asset markets on MGEX.
A platform for proprietary products
Our DCM license allows us to list our own proprietary products which includes the SPIKES® Volatility Futures and products traded solely on MGEX like Hard Red Spring Wheat Futures.
Proprietary clearing technology
MGEX’s DCO operates on proprietary technology, which we are currently in the process of upgrading to support our growing portfolio of new products and enhance our customer experience.
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.