PRINCETON, N.J. and GUERNSEY, CHANNEL ISLANDS, June 6, 2025 /PRNewswire/ -- Miami International Holdings, Inc. (MIH) today announced that its acquisition of The International Stock Exchange Group Limited (TISE) via its wholly-owned subsidiary, MIH East Holdings, Limited, has become effective by means of a Court-sanctioned scheme of arrangement under Part VIII of the Companies Law of Guernsey.
The cash consideration of £22.50 per TISE ordinary share values TISE at approximately £70.4 million ($91.5 million¹).
"MIH's acquisition of TISE represents a key milestone in advancing our international growth strategy," said Thomas P. Gallagher, Chairman and CEO of MIH. "I would like to extend my deepest gratitude to the TISE Board of Directors for their support throughout the process. I am especially grateful to Anderson Whamond for his steadfast guidance and diligence in completing the transaction and I look forward to working with him through the transition process."
Headquartered in Guernsey, Channel Islands, TISE provides financial markets and securities services to public and private companies. Best known as one of Europe's major professional bond markets, TISE's Qualified Investor Bond Market (QIBM) is a leading market in Europe for listing high yield bonds, structured finance products and securitization transactions. TISE lists a pool of investment funds, UK Real Estate Investment Trusts (REITs) and hosts a sustainable finance segment, TISE Sustainable. TISE reported over 4,400 securities on its Official List with a total market value of more than £750 billion ($975 billion¹) at the end of 2024.
"The acquisition of TISE by MIH signifies the growth of our business and we look forward to collaborating with the MIH team to further strengthen TISE's credentials as a leading European listing venue," said Cees Vermaas, CEO of TISE. "With MIH's endorsement of our strategy, people and position in the European market, we are well placed to accelerate our growth ambitions, broaden our service offering and deliver greater value to our stakeholders."
Mr. Gallagher added: "We are excited to establish a presence in Guernsey and believe that TISE's strong reputation and solid business foundation provide MIH with significant opportunity to enhance our offerings and expand our international footprint through investments in TISE's technology, business development and operational processes."
Reed Smith LLP served as English legal advisor to MIH and Mourant Ozannes (Guernsey) LLP served as Guernsey legal advisor to MIH. Ashurst LLP served as English legal advisor to TISE and Walkers (Guernsey) LLP served as Guernsey legal advisor to TISE. Zeus Capital Limited served as financial advisor to MIH and Investec Bank plc served as financial advisor to TISE.
(1) Based on exchange rate of 1 GBP to USD of 1.30.
About MIAX
MIAX's parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), MIAX Sapphire LLC (MIAX Sapphire), MIAX Futures Exchange, LLC (MIAX Futures), MIAX Derivatives Exchange (MIAXdx), The Bermuda Stock Exchange (BSX), Dorman Trading, LLC (Dorman Trading) and The International Stock Exchange (TISE).
MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX's in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism.
MIAX Futures is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Hard Red Spring Wheat Futures. MIAX Futures is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes.
MIAXdx is a CFTC regulated exchange and clearinghouse and is registered as a DCM, DCO, and Swap Execution Facility (SEF) with the CFTC.
BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.
Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.
TISE provides financial markets and securities services to public and private companies. TISE's Qualified Investor Bond Market (QIBM) is a leading market in Europe for listing high yield bonds, structured finance products and securitization transactions. TISE lists a pool of investment funds, UK Real Estate Investment Trusts (REITs) and hosts a sustainable finance segment, TISE Sustainable. TISE is headquartered in Guernsey, Channel Islands.
MIAX's executive offices and National Operations Center are located in Princeton, N.J., with additional U.S. offices located in Chicago, IL and Miami, FL. MIAX Futures offices are located in Minneapolis, MN. MIAXdx offices are located in Princeton, N.J. BSX offices are located in Hamilton, Bermuda. Dorman Trading offices are located in Chicago, IL. TISE offices are located in Guernsey, Dublin, the Isle of Man, Jersey and London.
To learn more about MIAX, visit www.miaxglobal.com.
To learn more about MIAX Futures, visit www.miaxglobal.com/miax-futures.
To learn more about MIAXdx, visit www.miaxdx.com.
To learn more about BSX, visit www.bsx.com.
To learn more about Dorman Trading, visit www.dormantrading.com.
To learn more about TISE, visit www.tisegroup.com.
About MIH East Holdings
MIH East Holdings, Limited (MIH East Holdings) is a private limited company incorporated in England and Wales and is a wholly-owned subsidiary of Miami International Holdings, Inc. (MIH). MIH East Holdings was established on March 20, 2023 as a wholly-owned subsidiary of MIH.
Media Contact:
Andy Nybo, SVP, Chief Communications Officer
+1 (609) 955-2091
anybo@miaxglobal.com
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