MIAX Sapphire Launches in Miami, Cementing City’s Growing Role as Financial Powerhouse

Miami just scored a major win in its continued rise as a global financial hub. On September 16, 2025, Miami International Holdings (MIAX) officially opened MIAX Sapphire, a cutting-edge options trading floor located in the heart of Wynwood. The launch marks a significant milestone for both MIAX and the City of Miami, introducing a fully operational open-outcry trading floor—the first of its kind in Miami and only the second to open in the United States over the past five decades. This bold move positions Miami as a serious contender to legacy financial centers like New York and Chicago, signaling a new chapter in the city’s economic and real estate landscape.

Located on the ninth floor of the 545 Wyn building, MIAX Sapphire spans more than 38,000 square feet and features not just a bustling trading pit, but also modern office spaces, conference rooms, and even a dedicated Bloomberg Television broadcast studio. The trading floor was meticulously designed with optimal lighting, acoustics, and infrastructure to support the dynamic needs of market-makers and trading professionals. Already, firms like Citadel Securities, Susquehanna International Group, Jane Street, and others are actively quoting on-site, offering real-time liquidity in one of the most active asset classes in the world: U.S. equity options.

What makes MIAX Sapphire especially noteworthy is its ability to grant market participants access to 100% of the multi-listed options market. This further enhances Miami’s standing as a viable and attractive location for sophisticated financial activity. As Miami continues its transformation into “Wall Street South,” the presence of a physical trading floor adds an extra layer of institutional credibility to a city that has already attracted a flood of fintech startups, hedge funds, and venture capitalists in recent years.

The economic implications for Miami are significant. The establishment of a trading floor of this scale will generate high-paying jobs—not only for traders and market-makers but also for compliance officers, risk analysts, operations staff, and technical support teams. The ripple effect will benefit a wide array of adjacent industries, including law, accounting, cybersecurity, and commercial real estate. Additionally, Miami stands to gain from increased business travel and financial events, further bolstering the local hospitality, transportation, and service sectors.

From a real estate perspective, the impact of MIAX Sapphire’s launch could be profound. High-income professionals relocating or commuting to the city for trading-related roles will likely drive up demand for luxury housing in areas like Brickell, Coconut Grove, South of Fifth, and Surfside. Rental prices are expected to rise in tandem, particularly for high-end apartments and condos in nearby neighborhoods. Will MIAX Sapphire encourage traders and finance professionals from other cities to relocate to Miami? All signs point to yes. Miami’s tax-friendly environment—with no state income tax—is an undeniable draw for high earners accustomed to the burdens of places like New York and California. Add in year-round sunshine, a vibrant cultural scene, and rapidly improving infrastructure, and you have a formula that’s hard to beat. The presence of a physical trading floor also offers strategic advantages in latency-sensitive trades and face-to-face dealmaking, making Miami not just a lifestyle upgrade but a smart business decision.

MIAX Sapphire could very well mark the tipping point in Miami’s transformation from sun-drenched tourist destination to full-fledged financial powerhouse. In short, the opening of MIAX Sapphire isn’t just a financial milestone—it’s a major turning point for Miami’s economy, real estate market, and identity. As more trading desks, financial firms, and market professionals make their way south, Miami’s status as a global finance capital looks more certain than ever.