Miami Exchange Receives CFTC Approval for Minneapolis Grain Exchange Acquisition

Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Exchange Group, and the Minneapolis Grain Exchange, Inc. (MGEX), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), announced that in connection with MIH’s anticipated acquisition of MGEX, the Commodity Futures Trading Commission (CFTC) has approved the transfer of MGEX’s Contract Market Designation to Minneapolis Grain Exchange, LLC, an entity created for purposes of the transaction. With CFTC approval, MIH’s acquisition of MGEX is now expected to close on December 4, 2020, subject to the satisfaction of customary closing conditions. Upon closing, MGEX would become a wholly owned subsidiary of MIH. MGEX, established in 1881, is one of the oldest trading venues in America, with more than 400 seats, historically concentrated on trading in agricultural products. The acquisition of MGEX significantly diversifies MIH’s product portfolio by providing MIH with a futures exchange and clearing facility.