Our EVP, Bob Fitzsimmons met with Tom Jarck, Volatility Products Specialist at MIAX, to discuss the SPIKES Volatility Index (SPIKE) and how investors can leverage SPIKES Futures (SPK) and SPIKES Options (SPIKE) products traded on the index. The SPIKES Volatility Index is a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY). The index updates every 100 milliseconds for pinpoint accuracy.
Jarck, shared how their futures and options products offer increased market visibility and super-low exchange fees. He also outlined how the product has evolved over time and the way SPIKES can be used alongside other products.
Current Wedbush Futures clients can contact us to get access to SPIKES products. New clients can learn about our services and opening an account here. For more information watch the full video below or visit the SPIKES overview on the MIAX Website.
About Wedbush Futures
Wedbush Futures, a division of Wedbush Securities Inc., is one of the largest non-bank Futures Commission Merchants (“FCM”) in the United States. The division specializes in clearing and financing activities for professional traders and Introducing Brokers. Located in Chicago, Wedbush Futures is at the forefront of our business, with deep industry specialization and a distinguished track record in financial securities. Our client relationships are built on trust and supported by our firm, which is rooted in experience, stability, and innovation. Since its founding in 1955, Wedbush has been a leader in the financial industry providing our clients with a wide range of services; including private client services and institutional sales, correspondent clearing services, equity research, corporate and municipal finance, equity market making, fixed income trading, and wealth management. Headquartered in Los Angeles, with 100 registered offices, the firm focuses on dedicated service, client financial safety, continuity, and advanced technology. Wedbush Securities is the largest subsidiary of holding company, Wedbush Capital, which also includes affiliated firms.
MIAX’s parent holding company, Miami International Holdings (MIH), operates and manages 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 national securities exchanges, the Minneapolis Grain Exchange, LLC (MGEX), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), and the Bermuda Stock Exchange. MIAX, MIAX Pearl and MIAX Emerald options exchanges leverage MIAX’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 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). Under MIAX Pearl’s exchange license, MIAX Pearl Equities™ provides its members with best-in-class performance through a combination of high determinism, low latency and high throughput. MIAX Pearl Equities has maker-taker pricing and a price-time allocation model. MIAX’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL. To learn more visit www.MIAXOptions.com.