Next Tuesday, Sept. 29, will mark the close of the Montrose Farmers Market for the 2020 season. While the season began with many uncertainties, all in all it turned out PRINCETON, New Jersey, Sept. 25, 2020 /PRNewswire/ — Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX®, MIAX PEAR… Real estate professionals say the pandemic is fueling a hot real estate market in Rim Country.
Next Tuesday, Sept. 29, will mark the close of the Montrose Farmers Market for the 2020 season. While the season began with many uncertainties, all in all it turned out to be a successful one. This would not be true without the support of a great group of vendors.
Although some vendors began early in the season and others ran out of produce as the season went on, a few were there for every market all year long. Vendors over the season included Alley Greenhouse, Angie Watznauer, Bar B Leather Shop and Baked Goods, Bernie’s Produce, Devela Nye, Earnie Beach, Hinterland Dairy, Jim’s Greenhouse, Libbie Shields, Watering Can Floral and Gifts, Michelle Bade, Scentsy — Michelle Keppel, Old Crow Primitives, Cherokee Bob, Lea’s Bling and Things, Three Pines Apiary, Sanders Aronia Berries and Uncle Phil’s Farm.
With the next market being the last one of the season, the menu will be Chef’s Surprise, a selection of sandwiches, with one hopefully being your favorite.
In honor of the newly arrived fall season, Sarah and Elsie Burkholder will be introducing a new flavor of fry pies – pumpkin. Be sure to give them a try, and hopefully they will prove as popular as their many other flavors!
Author: Mary Sue Chatfield For Mississippi Valley Publishing
MIAX PEARL Equities Begins Trading in NMS Test Symbols, Live Symbols Will Commence Trading on September 29, 2020 | Markets Insider
PRINCETON, New Jersey, Sept. 25, 2020 /PRNewswire/ — Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX®, MIAX PEARL® and MIAX Emerald™ exchanges, today announced that it has begun trading in all NMS test symbols on MIAX PEARL Equities™, MIH’s first equities exchange. MIAX PEARL Equities will begin live trading Tuesday, September 29, 2020 with its first symbol NTGR (NETGEAR Inc.) and will rollout additional symbols beginning October 2, 2020. With its launch, the MIAX Pearl Equities Exchange joins current options exchanges MIAX Options®, MIAX PEARL and MIAX Emerald as part of the MIAX Exchange Group™.
Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH, said, “Through the outstanding work we’ve done at our options exchanges and our demonstrated ability to manage complex trading initiatives, we’ve established a level of confidence with the trading community that constitutes the bedrock for the success we anticipate in MIAX PEARL Equities. We especially appreciate the engagement of the members who participated in our testing environment and look forward to a seamless rollout over the coming weeks.”
Continued Gallagher, “We are grateful to and especially proud of the work of our dedicated employees in launching our first cash equities exchange despite the daily challenges presented by the impact of the Covid-19 pandemic and our largely remote working environment over the past six months.”
“We are excited for MIAX PEARL Equities to officially go live and become the industry’s newest price-time equities exchange,” said Douglas M. Schafer, Jr., Executive Vice President and Chief Information Officer of MIAX PEARL. “Our systems have been performing exceptionally well thus far during today’s test symbol trading and we will look to finish the remainder of the trading day strong. We are eager for our member firms to now experience the ultra-low latency and exceptional throughput capabilities of our equities technology platform when live trading begins next week.”
Earlier this month, MIH announced that it has finalized a strategic transaction with industry-leading firms to trade on MIAX PEARL Equities. The transaction provides participants with the right to invest in MIH in exchange for the prepayment of certain exchange fees and the achievement of certain liquidity volume thresholds on MIAX PEARL Equities. A total of 22 units were offered in the transaction, which was fully subscribed. If all participants fully perform over the duration of this equity rights program, MIAX PEARL Equities’ market share from these participants would be 5.5% of ADV. Among the firms participating in the transaction are Citadel Securities, LLC, Hudson River Trading, Jump Trading Group, Simplex Trading, LLC, Susquehanna Securities, LLC, and UBS.
In addition, MIH and the Minneapolis Grain Exchange (MGEX), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) announced on August 14, 2020 that they have entered into a definitive agreement and plan of merger under which MIH has agreed to acquire MGEX for a combination of cash and MIH common stock following a demutualization of MGEX by its members and the satisfaction of certain closing conditions including regulatory approval. On September 4, 2020, MGEX’s seat holders voted overwhelmingly to demutualize. As a result, MIH and MGEX are now proceeding with merger preparations in accordance with the agreement and plan of merger. As a result of the acquisition, MGEX will become a wholly owned subsidiary of MIH and MIH will continue to maintain the trading and clearing operations of MGEX, including its hard red spring wheat contract, while adding new futures products. The closing is expected to occur in the 4th Quarter of 2020.
For further information on MIAX PEARL Equities interface and connectivity specifications, please visit: Interface Specifications and Connectivity Specifications or contact MIAX Trading Operations at [email protected] or Sales at [email protected]
Corporate Communications Contact:
Miami International Holdings, Inc. (MIH) is the parent holding company of 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. MIH also owns a controlling interest in the Bermuda Stock Exchange.
MIAX Options 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.
The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL.
To learn more about MIH and the MIAX Exchange Group visit www.MIAXOptions.com.
The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company), and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.
Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.
Author: finanzen.net GmbH
Pandemic fueled real estate market
Real estate professionals say the pandemic is fueling a hot real estate market in Rim Country.
Like other Arizona communities, Payson is on trend with the pandemic-fueled real estate market, which has the president of the Central Arizona Board of Realtors (CABOR) and a top performing real estate agent surprised.
“I have been selling in Rim Country since 2003 and I have never witnessed a market like this,” said Wendy Larchick, associate broker and partner with Keller Williams Arizona Realty At the Rim Team.
She said there is a significant lack of inventory across all price points.
She is seeing a significant increase in buyer traffic for higher-cost homes, both at the golf communities, river communities and remote luxury homes in Pine.
Even Payson’s new town manager Troy Smith is finding it difficult to buy a home.
Smith is expected to arrive in town Oct. 19, but says finding a home has “proven to be a challenge.”
“The market is quite active.”
Jennifer Kiley, president of CABOR, has worked in Rim Country real estate for more than three decades. She’s noticing a similar trend locally, but also elsewhere.
She said in her current role as CABOR president, she speaks with real estate association presidents all over the state and they report every area, from Sierra Vista, Yuma, the White Mountains to Kingman, have experienced the same influx of buyers, rise in real estate prices and historically low inventory levels as Rim Country.
Kiley said the trend doesn’t stop at the Arizona border, either. The nation has seen such an uptick in home buying, moving companies can barely keep up with demand.
So, how can a pandemic cause a real estate boom?
Breaking down the
pandemic housing boomLarchick said COVID has created a unique situation because more people are working from home and children are attending school virtually. With the flexibility of working remotely, more people are choosing to leave urban areas, like the Valley, for lower density/rural areas, she said.
Rim Country has some benefits that make it especially attractive. From the climate, surrounding 3 million acres of forest and proximity to the Phoenix metro area, it’s “the ideal escape from city life,” Larchick said.
Kiley said research shows there are three reasons for the pandemic real estate boom, starting with the pandemic.
“According to the United Nations, 90% of reported coronavirus cases worldwide are concentrated in urban areas, which is reason enough to move,” she said.
Many homebuyers from urban areas assume it’s cheaper to buy in a rural area. They get a sticker shock when they come to Rim Country, said Kiley, but buy anyway.
She agrees with Larchick that the emergence of remote working has opened up a new lifestyle.
“This benefits both employer and employee in some cases and so people are realizing they can actually live the life they’ve always dreamed of while they are still working and not wait until they retire,” said Kiley.
Finally, historically low interest rates allow a homebuyer to purchase a lot more home for the money. Add to that, Kiley said, lenders have great rates and good loan programs.
An interesting trend Kiley noted is that more buyers plan to live full time in Rim Country, rather than buy a second home.
Will the boom affect affordable housing?
One buyer group that hasn’t seen a benefit from the real estate boom — working-class families.
Larchick laments the lack of affordable housing which “has always been an issue in Payson.”
Typically, retirees from other areas come and buy what a Payson working-class family could afford, she said.
Recently, the Payson council approved a park model/tiny home project near Highway 87 at Tyler Parkway, but Larchick said the homeowner does not own the land. Instead, they pay a monthly lease fee, making that project “more set up … for a second homeowner.”
She sees condos as a solution to the affordable housing crunch in the area, but so far, the town has not had many applications for such projects. Developers continue to build three-bedroom, two-bath type homes that sell around the $300,000 range.
Comparing 2019 and 2020, the average home price jumped from $321,543 to $361,764, an increase of 12.5%, said Kiley.
But a snapshot of the market this month shows prices have gone even higher.
As of the week of Sept. 21, 67 homes were available for sale in the area and the average list price was $609,429, according to Kiley.
Of the 96 homes waiting to close escrow, the average list price was $429,453, which shows to Kiley only the higher end homes are left to purchase and the prices could very well rise higher by the end of the year.
But it’s not only houses that have flown off the shelves.
“Lot sales have nearly tripled during this time frame with 26 sold in 2019 (April-September) compared to 63 since April 1 of this year,” she said.
All of which concerns Larchick because she believes homeownership “is one of the best and easiest steps to creating wealth, for anyone.”
Kiley advised homebuyers to work with a real estate professional as there are often multiple offers on a property. A real estate agent can help a seller navigate the often nerve-wracking purchasing process.
“Your local Realtor can guide you in making a decision that is best for you,” she said.
Author: Michele Nelson, Roundup staff reporter