MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX)

NYSE · Security Brokers, Dealers & Flotation Companies

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Corporate structure

21 entities across 5 jurisdictions, 4 in offshore financial centres. Read directly from the company’s own 10-K EX-21 filed 2026-03-06 — see the exhibit.

Which other public companies file entities in the same places:

Delaware14 Guernsey2 Bermuda2 Illinois2 England and Wales1

Subsidiaries of MIAMI INTERNATIONAL HOLDINGS, INC. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Miami International Securities Exchange, LLC	Delaware
MIAX PEARL, LLC	Delaware
MIAX Emerald, LLC	Delaware
MIAX Sapphire, LLC	Delaware
Miami International Technologies, LLC	Delaware
MIAX Global, LLC	Delaware
The International Stock Exchange Group Limited	Guernsey	offshore centre
The International Stock Exchange Authority Limited	Guernsey	offshore centre
The Bermuda Stock Exchange	Bermuda	offshore centre
BSD Nominee Ltd.	Bermuda	offshore centre
M 9 Holdings, LLC	Delaware
MIAX Products, LLC	Illinois
MIAX Global Derivatives, LLC	Delaware
M 402 Holdings, LLC	Delaware
MIAX Futures Exchange, LLC	Delaware
M 7 Holdings, LLC	Delaware
LedgerX LLC d/b/a MIAX Derivatives Exchange	Delaware
M 8 Holdings, LLC	Delaware
Dorman Trading, LLC	Illinois
MGEX Real Estate Holdings, LLC	Delaware
MIH East Holdings, Limited	England and Wales

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 9

FAILReturn on assets positiveROA -5.6%
PASSOperating cash flow positiveOCF 168M
FAILReturn on assets improving10.5% → -5.6%
PASSCash flow exceeds earningsOCF 168M vs NI -70M
PASSLong-term debt ratio falling3.3% → 0.0% of assets
PASSCurrent ratio improving1.41 → 2.54
PASSNo share dilution75M → 70M shares
PASSGross margin improving24.2% → 31.6%
FAILAsset turnover improving1.17× → 1.08×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2023	$1.0B	−$20.9M	−$65.4M	22.3%	56,457,675
FY2024	$1.1B	$102.1M	$84.7M	24.2%	74,625,858
FY2025	$1.4B	−$70.0M	$145.0M	31.6%	69,836,032

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of MIAMI INTERNATIONAL HOLDINGS, INC. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	1,395,680	+615,898	$51.9M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Shares repurchased

2026Q1: $13.3M
2025Q1: $1.9M

Identity

CIK: 0001438472
SIC: 6211 · Security Brokers, Dealers & Flotation Companies
Incorporated: DE
Headquarters: PRINCETON, NJ

Ownership

Institutional: 74.4%
Institutions: 284
Insiders: 9.7%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other security brokers, dealers & flotation companies companies

MIAMI INTERNATIONAL HOLDINGS, INC. files under SIC 6211 — all 8 security brokers, dealers & flotation companies companies compared on assets and F-score.

BlackRock, Inc.BLK Jefferies Financial Group Inc.JEF STIFEL FINANCIAL CORPSF Robinhood Markets, Inc.HOOD Galaxy Digital Inc.GLXY WisdomTree, Inc.WT

Questions about MIAMI INTERNATIONAL HOLDINGS, INC.

How many subsidiaries does MIAMI INTERNATIONAL HOLDINGS, INC. file with the SEC?: 21, listed in its most recent exhibit 21. They are incorporated across 5 jurisdictions, led by Delaware, Guernsey, Bermuda. 4 of them sit in offshore financial centres. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is MIAMI INTERNATIONAL HOLDINGS, INC. financially healthy?: MIAMI INTERNATIONAL HOLDINGS, INC. scores 6 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of MIAMI INTERNATIONAL HOLDINGS, INC.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

21 entities across 5 jurisdictions, 4 in offshore financial centres. Read directly from the company’s own 10-K EX-21 filed 2026-03-06 — see the exhibit.

Entity

Jurisdiction

Note

Miami International Securities Exchange, LLC

Delaware

MIAX PEARL, LLC

Delaware

MIAX Emerald, LLC

Delaware

MIAX Sapphire, LLC

Delaware

Miami International Technologies, LLC

Delaware

MIAX Global, LLC

Delaware

The International Stock Exchange Group Limited

Guernsey

offshore centre

The International Stock Exchange Authority Limited

Guernsey

offshore centre

The Bermuda Stock Exchange

Bermuda

offshore centre

BSD Nominee Ltd.

Bermuda

offshore centre

M 9 Holdings, LLC

Delaware

MIAX Products, LLC

Illinois

MIAX Global Derivatives, LLC

Delaware

M 402 Holdings, LLC

Delaware

MIAX Futures Exchange, LLC

Delaware

M 7 Holdings, LLC

Delaware

LedgerX LLC d/b/a MIAX Derivatives Exchange

Delaware

M 8 Holdings, LLC

Delaware

Dorman Trading, LLC

Illinois

MGEX Real Estate Holdings, LLC

Delaware

MIH East Holdings, Limited

England and Wales

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 9

FAILReturn on assets positiveROA -5.6%
PASSOperating cash flow positiveOCF 168M
FAILReturn on assets improving10.5% → -5.6%
PASSCash flow exceeds earningsOCF 168M vs NI -70M
PASSLong-term debt ratio falling3.3% → 0.0% of assets
PASSCurrent ratio improving1.41 → 2.54
PASSNo share dilution75M → 70M shares
PASSGross margin improving24.2% → 31.6%
FAILAsset turnover improving1.17× → 1.08×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2023

$1.0B

−$20.9M

−$65.4M

22.3%

56,457,675

FY2024

$1.1B

$102.1M

$84.7M

24.2%

74,625,858

FY2025

$1.4B

−$70.0M

$145.0M

31.6%

69,836,032

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of MIAMI INTERNATIONAL HOLDINGS, INC. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	1,395,680	+615,898	$51.9M

Questions about MIAMI INTERNATIONAL HOLDINGS, INC.

How many subsidiaries does MIAMI INTERNATIONAL HOLDINGS, INC. file with the SEC?

21, listed in its most recent exhibit 21. They are incorporated across 5 jurisdictions, led by Delaware, Guernsey, Bermuda. 4 of them sit in offshore financial centres. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is MIAMI INTERNATIONAL HOLDINGS, INC. financially healthy?

MIAMI INTERNATIONAL HOLDINGS, INC. scores 6 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of MIAMI INTERNATIONAL HOLDINGS, INC.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.