MIAX’s Parent Holding Company Completes Follow-on Investment in Vesica Technologies and Parties Finalize License Agreement for Options and Equities Data Analytics
Miami International Holdings (MIH), the parent holding company of MIAX®, and Vesica Technologies (Vesica), a trading analytics startup making financial data more accessible to individuals, today announced that MIH has completed a follow-on equity investment in Vesica and the finalization of their licensing agreement. The parties previously announced MIH’s initial investment and partnership in late 2020.
As part of the license agreement, Vesica’s SHIFT SearchSM (SHIFT) platform will be made available for options and equities data through the MIAX website, www.MIAXOptions.com. The first phase of SHIFT for options data is now live and accessible via the MIAX website.
“We are pleased to complete our follow-on investment and excited to be launching SHIFT on our website to make financial data more transparent and readily available to all users,” said Thomas P. Gallagher, Chairman and CEO of MIH. “This is a big win for investors, as users who access SHIFT through the MIAX website will be able to use the tool free of charge at this time, giving investors a better understanding of institutional market flow. Vesica Founder and CEO Saad Hussain has assembled a great team and search platform at Vesica, and we are eager to continue collaborating on a variety of projects that we anticipate will accelerate growth for both companies.”
Designed and developed by Vesica, SHIFT provides information on daily market movements, volatility, and major trades, giving traders a “front page view” of financial markets. Users who enter the SHIFT platform via the MIAX website will be able to access the tool, which provides institutional-grade data, free of charge at this time.
“We thank MIH for its additional investment and continued vote of confidence in Vesica, our team and our technology,” commented Mr. Hussain. “Our partnership with MIH represents a very unique opportunity for Vesica. By aligning with a diversified, multi-asset exchange group and one of the most recognizable names in the exchange industry, we will be able to bolster our business and expand SHIFT’s addressable market. Together, we will help investors make better decisions by giving them immediate access to useful financial information.”
“Whether it’s seasoned professionals like brokers and analysts or retail traders with less experience, transparent markets are critical and highly beneficial to our customers and our industry as a whole,” said John Smollen, EVP and Head of Exchange Traded Products and Strategic Relations at MIH. “We believe allowing all users access to institutional-grade data is a much needed step in the right direction for our industry and we have found the right partner in Vesica.”