MGEX will provide clearing as a service to Intelligent Medicine Exchange (IMX)™
MINNEAPOLIS and CHICAGO, June 22, 2022 /PRNewswire/ — Minneapolis Grain Exchange (MGEX™), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), and Intelligent Medicine Exchange (IMX)™, developer of the first dedicated futures market based on multiple aspects of the healthcare economy, today announced that it has entered into an agreement for MGEX to provide clearing services to IMX for certain cash-settled futures contracts and options. Services will include managing exhibitions, clearing trades, and collecting and maintaining performance bonds and security deposits for participants.
“We are pleased to provide clearing services to IMX as MGEX continues to execute its strategy of providing clearing solutions as a service in the futures markets,” said Mark G. Bagan, President and CEO of MGEX. “As a DCO with an unlimited license that allows us to offer a margin on cleared positions, we believe this agreement with IMX reinforces our strategy to provide innovative products and services to the futures industry.”
Earlier this month, IMX announced plans to launch the first financial exchange focused on the healthcare economy. The exchange has submitted an application to become a DCM with the Commodity Futures Trading Commission (CFTC) and plans to list a number of contracts that will allow individual and institutional market participants to manage risk and invest in multiple components of the healthcare ecosystem. .
“MGEX provides essential clearing services as we grow our portfolio of innovative products that enable institutional and individual market participants – and those whose businesses depend on healthcare – to manage risk and invest in various aspects of healthcare ecosystem,” said Jacques Plante, CEO and co-founder of IMX. “Healthcare is the number one economic issue facing the nation, and we believe our next series of Healthcare Futures will provide participants with a powerful tool to more effectively manage risk and participate in this vital component of the economy.”
Minneapolis Grain Exchange (MGEX™) is a registered exchange with the Commodity Futures Trading Commission (CFTC) and is a futures exchange registered with the Securities and Exchange Commission (SEC). MGEX serves as the exclusive marketplace for a variety of products, including hard red spring wheat, SPIKES® futures, BRIXX™ commercial real estate futures and TAX futures. MGEX is a Designated Contracts Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM, DCO and spot market services across a range of asset classes. MGEX is a wholly owned subsidiary of Miami International Holdings, Inc. To learn more about MGEX, visit www.mgex.com.
MIAX’s parent company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), Minneapolis Grain Exchange, LLC (MGEX™) and Bermuda Stock Exchange (BSX™).
MIAX, MIAX Pearl, and MIAX Emerald are national SEC-registered securities exchanges that leverage MIAX’s state-of-the-art technology and infrastructure to provide their member firms with US-listed options trading. MIAX serves as the exclusive trading venue for cash-settled options on the SPIKES® Volatility Index (ticker: SPIKE), a measure of the expected 30-day volatility of the SPDR® S&P 500® ETF (SPY). In addition to options, MIAX Pearl makes it easy to trade stocks for cash through MIAX Pearl Equities™.
BSX is a fully electronic and vertically integrated international securities market regulated by the Bermuda Monetary Authority (BMA), specializing in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance-linked securities. A full member of the World Federation of Exchanges and an affiliate member of the International Organization of Securities Commissions, BSX is recognized globally, including by the SEC.
MIAX’s executive offices and national operations center are located in Princeton, New Jerseywith additional offices located in Miami, Florida, Minneapolis, Minnesotaand Hamilton, Bermuda.
To learn more about MIAX, visit www.MIAXOptions.com.
To learn more about BSX, visit www.bsx.com.
IMX Health, LLC, also known as Intelligent Medicine Exchange (IMX), a subsidiary of holding company IMX, LLC, is developing the first dedicated futures market based on multiple aspects of health economics, which accounts for nearly 20% of US GDP. . The company, based in Chicago, has filed for regulatory approval with the United States Commodity Futures Trading Commission (CFTC) to become a Designated Contract Market (DCM). For more information, visit www.imxhealth.com.
Disclaimer and Caution Regarding Forward-Looking Statements
The press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company) or IMX, LLC (together with its subsidiaries, IMX). , and does not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer is made; the 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. Forward-looking statements describe future expectations, plans, results or strategies and are generally preceded by words such as ” may”, “future”, “plan” or “expected”, “shall” or “should”, “expect”, “anticipate”, “draft”, “possibly” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ. significantly from those projected. in forward-looking statements.
All third party marks (including logos and icons) referenced by the Company and IMX remain the property of their respective owners. Unless specifically identified as such, the Company’s and IMX’s use of third-party marks does not indicate any relationship, sponsorship, or endorsement between the owners of such marks and the Company or IMX. Any reference by the Company and IMX to third-party marks is intended to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under trademark law.
Andy NyboSenior Vice President, Director of Communications
Ellen G. ResnickCrystal clear communications
(773) 929-9292; (312) 399-9295 (mobile)