Miami International Holdings Inc, parent company of the Bermuda Stock Exchange, announced that it has confidentially submitted a draft registration statement on Form S-1 with the US Securities and Exchange Commission relating to the proposed initial public offering of its common stock.

The number of shares to be offered and the price range for the proposed offering have not yet been determined.

The company said the registration statement is expected to become effective after the SEC completes its review process, subject to market and other conditions.

Miami International Holdings Inc owns Miami International Securities Exchange LLC (Miax), Miax Pearl LLC, Miax Emerald LLC, and the Minneapolis Grain Exchange LLC in addition to the BSX.