Robinhood-Led Venture Acquires Majority Stake in MIAXdx from Miami International Holdings
The deal highlights Miami International Holdings’ strategic pivot toward core market growth while retaining a foothold in derivatives clearing.
January 22, 2026
Robinhood and Susquehanna Take Control of MIAXdx in Strategic Derivatives Market Push
Robinhood Markets, backed by Susquehanna International Group, has acquired a 90% stake in MIAXdx, the derivatives exchange previously owned by Miami International Holdings. The transaction, announced January 21, 2026, gives the joint venture a controlling position in a CFTC-regulated platform built to support fully collateralized futures, options on futures, and swaps.
Miami International Holdings, which retains a 10% equity stake, is making a deliberate shift. By stepping back from day-to-day operations at MIAXdx, the company is focusing its resources on expanding its core exchange businesses. These include MIAX Options, MIAX Pearl, and a growing set of global platforms across equities, futures, and international markets.
This move also gives MIAX exposure to a developing corner of the market: prediction-based trading. With its retained interest in MIAXdx, the firm stays connected to the platform’s long-term trajectory while pursuing broader growth across its existing exchange ecosystem.
For Robinhood, the acquisition moves the firm deeper into regulated derivatives. MIAXdx brings the regulatory infrastructure needed to scale new asset classes. The addition of Susquehanna—known for its institutional trading strength—further reinforces the joint venture’s foundation.
Strategically, the deal opens new doors for both sides. Robinhood is positioning itself to offer users broader access to futures and other cleared products, while MIAX channels attention toward its existing network of eight exchanges and affiliated businesses like Dorman Trading and The Bermuda Stock Exchange.
As this shift takes hold, both organizations are sharpening their focus. Robinhood and Susquehanna now have the structure to build within the prediction market space, and MIAX is doubling down on organic growth—reallocating capital and attention where it sees the greatest return.
The partnership reflects how firms are adapting as new market segments grow and investor needs evolve. It’s a clear example of aligning strategy with structure to meet the demands of a changing financial landscape.
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