Miami Options Exchange Starts Testing In NJ
August 17, 2012
The Miami International Securities Exchange said it will start mock trading in options in September, at its operations center in New Jersey.
The tests are planned for September 8, 15 and 22. The exchange intends to launch in October. It is awaiting approval from the Securities and Exchange Commission.
The exchange will use Cisco Nexus 3000 and Nexus 5000 switches and networking gear. The operation use automated continuous testing to ensure reliability and advanced monitoring and security.
The exchange’s chief information officer is Douglas M. Schafer, formerly a vice president of trading systems development at the Nasdaq OMX PHLX options exchange.
The Miami exchange’s executive offices and technology development center are located in Princeton, New Jersey. The National Operations Center for the MIAX Options Exchange will be housed at the Princeton facility. Additional executive offices, as well as a multi-purpose training, meeting and conference center will be located in in Miami Florida.