Daily Archives: August 21, 2019

Miami International Holdings and Advanced Fundamentals Announce Partnership; Proprietary Commercial Real Estate Derivative Products to Follow on MIAX Exchanges

PRINCETON, New Jersey, Aug. 21, 2019 /PRNewswire/ — Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX®, MIAX PEARL and MIAX Emerald™ options exchanges (the MIAX Exchange Group), and Advanced Fundamentals, LLC (Advanced Fundamentals), an owner and developer of next generation beta indexes, today announced that they have partnered to develop a complex of proprietary financial products based on Advanced Fundamentals’ commercial real estate indexes (CRE Indexes).

Advanced Fundamentals has developed the first series of real estate indexes that blend the attributes of the public market with the private market to create an investment strategy that produces unlevered real estate returns with strong correlations to the National Council of Real Estate Investment Fiduciaries (NCREIF) Property Indexes (NPI), together with real-time pricing, enhanced transparency, and the liquidity of listed securities.

As part of this partnership, MIH has been granted an exclusive, worldwide license to develop and commercialize financial products based on the CRE Indexes. These products will be available exclusively on the MIAX Exchange Group. The first tranche of products, cash-settled options and futures on the CRE Indexes, are expected to be listed in 2020. All products remain subject to SEC and CFTC approval, respectively.

The Advanced Fundamentals CRE Indexes are comprised of four sector-based indexes (Residential, Retail, Office, Hospitality) and a Composite Index that measure real-time real estate returns to support hedging, benchmarking, and portfolio allocation strategies for both public and private real estate investors. Indexes are priced using real-time public market data that aggregates over $600 billion in property values, measuring unlevered returns in commodity pricing such as price per square foot, price per key, and price per unit. The indexes are currently being calculated by Refinitiv.

Thomas P. Gallagher, Chairman and CEO of MIH, said, “We are thrilled to partner with Advanced Fundamentals to bring this unique and much needed product complex to the marketplace. This is a huge opportunity for both parties, and we look forward to a mutually beneficial relationship with Advanced Fundamentals for many years to come.” Continued Gallagher, “The launch of these products will also provide new trading opportunities for our member firms and contribute to the overall value of our exchange group.”

“While most asset classes have derivatives markets that dwarf the underlying markets, the real estate derivatives market in the United States is almost nonexistent,” said Jesse Stein, Managing Principal of Advanced Fundamentals. “The reason for this is simply that a true, real-time valuation measurement index to provide the transparency and correlations required for widespread use and adoption did not exist until now.”

David Gwozdz, a Principal at Advanced Fundamentals, added, “With the introduction of the Advanced Fundamentals structured products, the real estate derivatives market could quickly grow to a notional value in  line with other major asset classes.”

“MIH embraces innovative companies like Advanced Fundamentals, disruptive entrepreneurs and tomorrow’s visionaries looking to improve and advance an area of the marketplace that deserves better product offerings,” stated John Smollen, Executive Vice President – Head of Exchange Traded Products and Strategic Relations at MIH.

For further information regarding MIH and the MIAX Exchange Group, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.

Corporate Communications Contact: Dominique Prunetti-Miller
(609) 897-1465
dprunetti@miami-holdings.com

About MIH 

Miami International Holdings, Inc. (MIH) is the parent holding company of Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX PEARL™) and MIAX Emerald, LLC (MIAX Emerald™ and together with MIAX and MIAX PEARL, the MIAX Exchange Group), three fully electronic options trading exchanges.

MIAX, MIAX PEARL and MIAX Emerald leverage the MIAX Exchange Group’s industry-leading technology and infrastructure to provide their member firms with traditional pricing and pro rata allocation (MIAX), maker-taker pricing and price-time allocation (MIAX PEARL) market structures, and a hybrid market structure with maker-taker pricing and pro rata allocation (MIAX Emerald).

MIAX Options serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).

The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, NJ, with a Miami Operations Center and additional offices located in Miami, FL.

To learn more about MIH and the MIAX Exchange Group visit www.MIAXOptions.com.

About Advanced Fundamentals

Advanced Fundamentals specializes in developing indexes that measure real time changes in total returns across multiple sectors of the commercial real estate market to support hedging, benchmarking, and portfolio allocation strategies for both public and private real estate investors.

Further information on Advanced Fundamentals can be found at www.advancedfundamentals.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company) or Advanced Fundamentals, LLC, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

5G is here: PT Expo China 2019 will be held October 31 – November 3

BEIJING, Aug. 21, 2019 /PRNewswire/ — Asia’s leading Information and Communications Technology (ICT) event, PT Expo China 2019 (PTEXPO19), will be held from October 31 to November 3 in Beijing, China, showcasing a world of 5G and other next-gen ICTs.

The event, hosted by Chinese Ministry of Industry and Information Technology, is reputed as the country’s 5G flagship event. With China officially entering the first year of 5G commercialization, the industry looks to the event to highlight practical 5G cases in various industries, their different scenarios, and business models.

More than 60,000 attendees from all of the ICT ecosystem’s sectors are predicted to gather, as well as over 400 leading companies and organizations that will exhibit or speak at the conference sessions, including China Telecom, China Mobile, China Unicom, China Tower, CAICT, China Satcom, Potevio, CICT, Nokia, Huawei, ZTE, Ericson, Qualcomm, Intel, Nvida, Deloitte, iFlytek, UNISOC and more.

An immersive thematic exhibition, Smarter Tech, Better Life, will be set up to showcase 5G’s practices in 4K+8K videos, connected cars, digital health, smart education, smart city and many other intelligent terminals. The thematic exhibition aims to create a lifestyle smarter and better through various and universal technologies, beneficial to all — not based on region, on socio-economic levels, or backgrounds.

The event’s conference program ICT China High Level Forum is known for the release of China’s national 5G trial results over the past three years. This year, more than ten thematic forums, summits and launch events are scheduled around network innovations and next-gen ICTs’ applications in the traditional manufacturing and consumption area. Potential discussions between the ICT industry and the vertical markets are called for to achieve full potential of 5G, AI, Industrial Internet, Big Data, and more.

The registration for PTEXPO19 is already open. Attendees can register through the event’s website to join this big ICT gathering: www.ptexpo.com.cn/en/index

Gavin Bambury named OANDA(R) CEO

LONDON, Aug. 21, 2019 /PRNewswire/ — A global leader in online multi-asset trading services and currency data and analytics, OANDA Global Corporation is pleased to announce the appointment of industry leader Gavin Bambury as Chief Executive Officer, effective Monday 26 August 2019. Based in London, he will also serve as a director on the OANDA Global Corporation Board.

Gavin Bambury, Chief Executive Officer, OANDA

With more than 25 years’ experience in the financial technology and trading sector, Bambury has worked in a variety of leadership roles at world-class financial institutions including Citibank and Deutsche Bank. He also spent six years as CEO of Ion Trading Technologies, a trading software company with revenues in excess of EUR250 million. He joins OANDA from Integral Development Corporation.

Chairman of the Board, Tim Howkins commented, “We are extremely pleased to welcome Gavin to OANDA. A seasoned professional, he combines a deep-seated knowledge of financial technology with an unparalleled understanding of the trading sector, which will be invaluable as we continue to execute the firm’s strategic vision in the years to come.”

Bambury added, “I am delighted to be joining OANDA, as a world-class brand focused on its clients, the company has enjoyed tremendous success in recent years. I am confident we can build on these foundations, and through investment, organic and inorganic, we will extend our global coverage and enhance our clients experience, enabling us to continue to be the trusted leader in FX.”

About OANDA

Founded in 1996, OANDA was the first company to share exchange rate data free of charge on the Internet, launching an FX trading platform that helped pioneer the development of web-based currency trading five years later. Today, the firm provides online multi-asset trading, currency data and analytics to retail and corporate clients, demonstrating an unrivalled expertise in foreign exchange. With regulated entities in six of the world’s most active financial markets, OANDA remains dedicated to transforming the business of foreign exchange. For more information, please visit oanda.com or follow us on Twitter, Facebook or YouTube.

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XCMG Releases New Middle East Series Developed For The Desert

MUSCAT, Oman, Aug. 21, 2019 /PRNewswire/ — XCMG, a leading Chinese construction manufacturer, has hosted a new product release ceremony in Muscat, Oman to introduce the new Middle East series, including cranes, truck cranes, crawler cranes, tower cranes and aerial work platforms. The ceremony was attended by more than 200 customers and distinguished guests, XCMG’s new generation M Model even sold out  before the event ended.

XCMG Releases New Middle East Series Developed For The Desert.

Showcasing the strength of Chinese manufacturing and innovative achievements, the new Middle East series will suit the region’s dry and sandy climate. Through repeated testing, XCMG’s new models can deliver optimal performance in the high temperature and dusty environment under strict safety requirements, such as driving smoothly on dessert terrain and completing high-duty tasks.

“XCMG maintains an “Advanced and Endurable” Gold Standard to applying art of craftwork creation when developing and manufacturing products, especially when customizing equipment for unique geographical environments,” said Liu Quan, deputy general manager of XCMG Import & Export Co., Ltd.”The Middle East has always been a key market for XCMG internationally, and XCMG hopes to contribute to the Sino-Oman relationship through promoting China’s leading manufacturing capabilities, technologies and standards,” added Liu Quan.

Mr. Muhammad, who purchased the 85-ton truck crane at the event, said “The outstanding performance of XCMG’s products have brought success to our business. And I think the new desert series will bring us the same success in the future.”

XCMG entered the Oman market in 2005.

“During the 15 years of cooperation with XCMG, we have both achieved success and forged a profound friendship. XCMG is the top choice for the construction industry and the new series will inject new energy into the market,” said Manal Bahwan, a XCMG dealer representative in Oman.

About XCMG

XCMG is a multinational heavy machinery manufacturing company with a history of 76 years. It currently ranks sixth in the world’s construction machinery industry. The company exports to more than 183 countries and regions around the world.

Please visit: www.xcmg.comFacebook, TwitterYouTubeLinkedIn and Instagram.

Related Links:
http://www.xcmg.com

Photo – https://mma.prnewswire.com/media/963428/XCMG_middle_east_series.jpg