MIAX Onyx Trading Platform Launches Minneapolis Hard Red Spring Wheat Futures

Strategic Insights -

MIAX, a technology-driven leader in building and operating regulated financial markets, has successfully launched the MIAX Futures Onyx platform, a proprietary trading technology designed to power trading of agricultural and financial futures, and options on futures. The platform has successfully commenced trading of Minneapolis Hard Red Spring Wheat (HRSW) Futures, a flagship contract traded continuously since 1881.

The launch of MIAX Futures Onyx marks a significant milestone in the expansion of the company's trading infrastructure, aligning with MIH's strategy of building and operating all its markets on MIAX proprietary technology. The platform is expected to significantly expand the range of products and clearing services offered to MIAX Futures customers, including the trading of HRSW futures once filed with the Commodity Futures Trading Commission (CFTC).

Key Takeaways:

  • The MIAX Futures Onyx platform was developed by MIAX's in-house technology team, utilizing the same proven systems that power MIAX exchanges, aiming to set a new standard for fast and reliable trading technology in the futures industry.
  • The launch of MIAX Futures Onyx marks a significant milestone in the company's strategy of building and operating all its markets on MIAX proprietary technology and expands the range of products and clearing services offered to MIAX Futures customers.
  • The Minneapolis Hard Red Spring Wheat (HRSW) Futures, a flagship contract traded continuously since 1881, will be the first product traded on the new platform once filed with the CFTC.
  • MIAX's proprietary technology was critical in the design and development of MIAX Futures Onyx, which aims to meet the high-performance order processing demands unique to the U.S. Futures trading industry.
  • MIAX Futures was acquired by MIH in 2020 and has traded the Minneapolis HRSW Futures continuously since its inception, allowing market participants to hedge risk exposure across global wheat markets.

Statistics:

  • Over 144 years (since 1881) the Minneapolis Hard Red Spring Wheat (HRSW) Futures contract has traded continuously.
  • The MIAX Futures Onyx platform was developed in-house, utilizing proprietary technology, with industry feedback and scalability as critical components in its design and development.
  • The platform is designed to power trading of agricultural and financial futures, and options on futures, aiming to set a new standard for fast and reliable trading technology in the futures industry.

Sources:

  • MIAX Media Release, July 1, 2025.
  • MIAX Corporate Website (visit ).
  • MIAX Futures Corporate Website (visit ).