Miami International Holdings operates a portfolio of regulated financial exchanges and marketplaces serving institutional customers across multiple asset classes and geographies. The company runs four U.S. options exchanges, an equities exchange, a futures exchange with clearing capabilities, and two international listing exchanges specializing in equities, debt, insurance-linked securities, and other investments. It generates revenue primarily through transaction fees on trades and contracts executed across its platforms, supplemented by market data fees, clearing services, and licensing arrangements, leveraging proprietary in-house technology and regulatory licenses under the SEC, CFTC, and international authorities to compete in the marketplace infrastructure business.