MIAX Options, MIAX PEARL and MIAX Emerald are fully electronic options trading exchanges and wholly-owned subsidiaries of Miami International Holdings, Inc. (MIH) that comprise the MIAX Exchange Group. The MIAX Exchange Group assembled a team with deep rooted experience in developing, operating and trading on options exchanges, and its trading platforms were developed in-house and designed from the ground up for the unique functional and performance demands of derivatives trading. MIAX Options, MIAX PEARL and MIAX Emerald leverage the MIAX Exchange Group’s industry-leading technology and infrastructure to provide their member firms with both traditional and maker-taker pricing structures. With the launch of MIAX Emerald, the MIAX Exchange Group now has access to approximately 80% of the overall U.S. options market volume. On February 21, 2019 MIAX Options launched options on the SPIKES™ Volatility Index. SPIKES™ is a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY), the most actively-traded exchange traded fund in the world. SPIKES™ was developed by T3 Index (T3), a research-driven indexing firm that develops proprietary indexes as part of a partnership with MIH. The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, NJ, with a Miami Operations Center, Annual Meeting and Conference Center, and offices for MIAX Technologies and MIAX Global, two other MIH subsidiaries, located in Miami, FL.