The SPIKES Index and volatility products offer a number of unique features designed to produce highly accurate, robust data and create a transparent and open auction settlement process.
Brief overview of the SPIKES index and options product
Complete walkthrough of SPIKES index calculation
Characteristics of SPIKES options
Guide describing how the settlement value is determined
Fee schedule for SPIKES and related transactions
Interactive SPIKES index calculation example worksheet
Fee waiver program for MMs trading SPIKES
Study by Peter Carr on differentiators of SPIKES
May 01, 2019PRINCETON, N.J. and MINNEAPOLIS, MN, May 1, 2019 – Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX®, MIAX PEARL™ and MIAX Emerald™ options exchanges (the MIAX Exchange Group™), and the Minneapolis Grain Exchange, Inc. (MGEX), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) registered with the Commodity Futures and Trading Commission (CFTC), today announced that they have entered into an agreement pursuant to which MGEX will serve as the exclusive exchange to list, trade and clear futures products on the SPIKES® Volatility Index (SPIKES; Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY). SPIKES futures are expected to be available on MGEX in Q3 2019, subject to CFTC approval. SPIKES options are now available exclusively on the MIAX Options Exchange.
February 21, 2019
SPIKES Options Launched on MIAX - MIAX Options Executes Strategy to Transform Market as First True Competitor in Volatility Space
MIAX Options® on Tuesday began its first day of volatility options trading on the SPIKES™ Index (Ticker: SPIKE), an index designed with a fully-transparent process featuring pinpoint accuracy and radically faster dissemination.
February 05, 2019
Volatility Trading to Launch on SPIKES Index - MIAX Options Exchange Begins Trading February 19, Opening Volatility Market to Competition for First Time in History
MIAX Options® is scheduled to launch volatility trading on the SPIKES™ Index (Ticker: SPIKE) February 19, marking the end of exclusivity in the volatility market.
October 15, 2018
MIAX Options® today announced that it has received approval from the U.S. Securities and Exchange Commission (SEC) to list and trade cash-settled options on the SPIKES™ Index (Ticker: SPIKE), transforming the competitive landscape of the volatility trading market dominated by a single player for the last 15 years.
April 30, 2018
MIAX Options® today announced that it has begun publishing the SPIKES™ Volatility Index (Ticker: SPIKE), following a successful launch of the Index. Transmission of the underlying Index value is being done via OPRA, with an option settlement value to follow at a later date.