Daily Archives: July 9, 2019

Miami International Holdings Reports June 2019 Trading Results for MIAX Exchange Group; MIAX PEARL Sets New Daily Market Share Record

PRINCETON, N.J., July 9, 2019 /PRNewswire/ — Miami International Holdings, Inc. (MIH) today reported the June 2019 trading activity for its three fully electronic options exchanges – MIAX®, MIAX PEARL™ and MIAX Emerald™ (together, the MIAX Exchange Group™). The MIAX Exchange Group collectively executed over 32.7 million equity option contracts in June for a combined average daily volume (ADV) of 1,637,738 contracts, representing a total U.S. equity options market share of 9.61%.

Trading Volume for MIAX Exchange Group,

Current Month

Year-to-Date Comparison
Equity Options Contracts June-19 June-18 % Chg. May-19 % Chg. June-19 June-18 % Chg.
Trading Days 20 21 22 124 125
U.S. Equity Options Industry 340,857,459 363,069,104 -6.1% 405,895,497 -16.0% 2,148,799,987 2,279,696,180 -5.7%
MIAX Exchange Group 32,754,753 37,126,509 -11.8% 38,004,588 -13.8% 212,825,972 200,790,196 6.0%
MIAX 12,704,769 16,834,469 -24.5% 15,227,333 -16.6% 87,339,800 102,872,083 -15.1%
MIAX PEARL 17,626,201 20,292,040 -13.1% 19,650,832 -10.3% 115,404,883 97,918,113 17.9%
MIAX Emerald 2,423,783 3,126,423 -22.5% 10,081,289
Equity Options ADV June-19 June-18 % Chg. May-19 % Chg. June-19 June-18 % Chg.
U.S. Equity Options Industry 17,042,873 17,289,005 -1.4% 18,449,795 -7.6% 17,329,032 18,237,569 -5.0%
MIAX Exchange Group 1,637,738 1,767,929 -7.4% 1,727,481 -5.2% 1,716,338 1,606,322 6.8%
MIAX 635,238 801,641 -20.8% 692,152 -8.2% 704,353 822,977 -14.4%
MIAX PEARL 881,310 966,288 -8.8% 893,220 -1.3% 930,685 783,345 18.8%
MIAX Emerald 121,189 142,110 -14.7% 81,301
Equity Option Market Share for MIAX Exchange Group,

Current Month

Year-to-Date Comparison
Equity Options Market Share June-19 June-18 % Chg. May-19 % Chg. June-19 June-18 % Chg.
MIAX Exchange Group 9.61% 10.23% -6.0% 9.36% 2.6% 9.90% 8.81% 12.5%
MIAX 3.73% 4.64% -19.6% 3.75% -0.6% 4.06% 4.51% -9.9%
MIAX PEARL 5.17% 5.59% -7.5% 4.84% 6.8% 5.37% 4.30% 25.0%
MIAX Emerald 0.71% 0.77% -7.7% 0.47%


Other news and achievements include:  


  • Established a new daily market share record on June 26, 2019, executing 6.79% of OCC national volume in equity options

For further information regarding the MIAX Exchange Group, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.

Corporate Communications Contact: Dominique Prunetti-Miller
(609) 897-1465

About MIH and the MIAX Exchange Group

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 fully electronic options trading exchanges.

MIAX, MIAX PEARL and MIAX Emerald leverage the MIAX Exchange Group’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 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).

The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, NJ, with a Miami Operations Center and additional offices located in Miami, FL.

To learn more about MIH and the MIAX Exchange Group visit www.MIAXOptions.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

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.


GameChange Solar Closes Financing with Citi to Fund Global Expansion

NEW YORK, July 9, 2019 /PRNewswire/ — GameChange Solar today announced that it has closed an asset based working capital line of credit to fully fund its growth over the next several years in the US and overseas. The funding commitment was provided by Citi Commercial Banking. GameChange Solar has achieved profitability every year since its inception in 2012, rising to become the market leader in the US combined utility scale solar structures and tracker market in 2019. It expects to continue a trajectory of profitable growth and is poised to become the global leader by 2022 with sales substantially in excess of $1 billion.

Derick Botha, Chief Commercial Officer at GameChange Solar, stated: “As GameChange Solar continues its rapid expansion globally and in the US, we decided it was time to bring on a large financing partner. We are pleased to close a transaction with Citi, which we feel is the best global bank for our needs. Citi also shares our vision of the importance of solar energy.”

Contact and media inquiries can be directed to Derick Botha +1 (302) 528-2125
email: derick.botha@gamechangesolar.com

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What Is the Smart I-V Curve Diagnosis 3.0?

SHANGHAI, July 9, 2019 /PRNewswire/ — In 2019, Huawei launched the AI Boost Smart I-V Curve Diagnosis 3.0, integrating Artificial Intelligence (AI) technology in the field of solar operation and maintenance (O&M) for the first time. The solution uses smart photovoltaic (PV) inverters to scan PV strings to obtain the relationship (I-V curve) between the output voltage and output current. The smart PV management system performs big data-based analysis on the I-V curve of PV modules, applies AI smart diagnosis algorithms, identifies faulty strings accurately, and outputs a diagnosis report. Through AI self-learning, the solution is accumulating I-V experience and optimizing fault models, transferring O&M of solar PV into the AI era.

What Problems Can Smart I-V Curve Diagnosis 3.0 Solve?

It is fully proved that PV module faults are the key factor that affecting the energy yield of PV plants. PV module faults at early, middle, and late stages differ greatly. Manual inspection and traditional supervisory control and data acquisition (SCADA) cannot accurately locate the root cause of the faults. Traditional I-V detection is offline detection that requires site visits with devices carried. A 100 Mega Watt (MW) PV plant, for example, has tens of thousands PV modules and covers an area equivalent to 300 football fields. As a result, not all PV modules can be scanned. Moreover, generating reports manually is error-prone and time-consuming. Increasing PV application scenarios, complex terrain, as well as the advent of new types of PV modules such as bifacial PV modules all impede manual detection and raise the costs.

What problems can Smart I-V Curve Diagnosis Solve

Huawei Smart I-V Curve Diagnosis 3.0 changes the traditional manual sampling detection. The system performs full detection on all PV modules. It takes only 15 minutes to scan a 100 MW PV plant and automatically generate a detection report covering 14 types of faults. The solution applies to a wide variety of PV scenarios, such as large-scale ground, distributed, and residential PV plants. The detection is completed online, sparing the personnel of site visits. This greatly improves the O&M efficiency of PV plants in the entire life cycle and reduces the O&M cost.

Compared with monofacial PV modules, bifacial ones, affected by weather and ground conditions, suffer the mismatch effect more. Due to the uneven irradiation on the rear side of bifacial PV modules and ground reflected diffuse, the accuracy requirement of the I-V detection is higher. Besides, the incurred current mismatch should not be simply considered as faults. Through AI self-learning, Smart I-V Diagnosis 3.0 further adapts with bifacial PV modules, improves the recognition accuracy of bifacial modules’ model, and accurately identifies mismatches caused by shading and PV module faults.

Application of Smart I-V Curve Diagnosis

Recognized and highly appraised by customers worldwide, Smart I-V Diagnosis has been deployed globally in large-scale ground, distributed industrial and commercial rooftop, residential rooftop, mountain, floating, solar-agricultural, and solar-fishery PV plants with a scale of over 5 GW by now. It is certified onsite by TÜV Rheinland that Smart I-V Diagnosis has the data precision up to 0.5%. A 100 MW smart PV plant in Golmud, Qinghai witnessed the 15-minute detection for all PV strings with 100% accuracy.

Smart I-V Curve Diagnosis certified by TUV

In an undulating ground PV plant in Malaysia, Smart I-V Curve Diagnosis was used to scan 9,496 PV strings with 1,149 ones detected as faulty. The fault rate was 12.1%. Based on the Smart I-V Curve Diagnosis report, O&M personnel had a detailed understanding of the health status of each PV array, which facilitated targeted site maintenance. If all the faults are fixed, the power generation of this plant will increase by more than 1.5%.

Smart I-V Curve Diagnosis case study in Malaysia

AI technology has promoted industrial upgrading and transformation. The renewable energy industry has ushered in a rapid development period of digital transformation. In the field of PV plant O&M, Huawei will take advantage of its innovative technology and extensive experience to greatly improve O&M efficiency, reduce O&M costs, and improve the operating efficiency of the entire life cycle of PV plants.

About Huawei:

Huawei is a leading global ICT and network energy solutions provider, currently providing network energy products and solutions in over 170 countries, serving more than three billion people around the world. Huawei innovatively integrates digital information technologies such as AI, IoT, big data, and cloud computing, with PV technology, to promote industry-leading smart PV solutions for utility-scale, commercial and residential scenarios. Based on reports released by global consultancy IHS Markit, Huawei was ranked No.1 globally in inverter shipment for four consecutive years, from 2015 to 2018. For more information, please visit: solar.huawei.com.

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1 Hotel Heads West: Conscious, Cultivated + Now Californian!

1 Hotels Flagship Opens in West Hollywood

A Sustainable City Sanctuary

LOS ANGELES, July 9, 2019 /PRNewswire/ — Today, 1 Hotels opens its fourth property and West Coast flagship, 1 West Hollywood. Formerly The Jeremy, the property has undergone a total transformation, taking its cues from the raw natural beauty of the Southern California landscape. As yet another world-class, mission-driven, luxury experience in the 1 Hotel portfolio, the newest property will continue to be operated by SH Hotels & Resorts, a subsidiary of Starwood Capital Group, a global private investment firm.

1 Hotel West Hollywood

When it comes to sustainable hospitality, 1 Hotels walks the walk. With an Energy Star score of 95, “1 WeHo” will be one of the most energy-efficient hotels in L.A. Among its property-wide conservation practices is the inclusion of native and adaptive vegetation, a smart irrigation system that determines when soil actually needs water, a 100% organic, sustainably-grown vegetable garden and neighboring beehive and 100-year old olive trees.

“1 Hotel West Hollywood will undoubtedly set a new standard for luxury hotel experiences in Los Angeles while staying true to our mission of inspiring conscious consumption,” said 1 Hotels Founder and CEO & Chairman of Starwood Capital Group Barry Sternlicht. “Now, more than ever, the idea of living well includes protecting the natural beauty around us.”

Inside the hotel, smart energy-efficient zoning of A/C and fresh air keeps guests comfortable and LED lighting flows throughout the building. Designed by AvroKo and executed by SH Hotels & Resorts’ interior design team, the property’s conscious earthy design is inspired by the beauty and simplicity of raw materials: reclaimed timber and steel, recycled fiber carpeting, abundant native greenery and stunning stonework. The reception desk is crafted from lumber, sourced from naturally fallen trees, and all lobby furniture is locally made by J. Alexander.

“The local community is integral to our growing footprint on the West Coast. From design and culinary to retail partnerships and beyond, 1 Hotel West Hollywood will be a sanctuary for guests and visitors alike to reconnect with nature,” said President of SH Hotels & Resorts, Arash Azarbarzin.

Nestled at the base of the Hollywood Hills, with sweeping views from downtown to Santa Monica, 1 Hotel West Hollywood features 285 guestrooms and suites, including dual penthouses perched atop the city skyline, which are set to debut later this summer. A newly renovated plunge pool and lounge deck overlooks West Hollywood and beyond. The property also features 14,000 square feet of flexible event space, a business center, and a range of culinary options.

Executive Chef Chris Crary has challenged himself to create a selection of zero-waste dishes that amplify his restaurants’ commitment to preserving the beauty and bounty of nature. 1 Kitchen by Chris Crary serves a sublime menu of locally and sustainably sourced California cuisine with Italian influences. And Juniper Tree, 1 Hotel West Hollywood’s ethereal bar and lounge, is a perfect refuge from the city, and offering handcrafted cocktails, Mediterranean wines (biodynamic and organic), local craft beers and refined bar snacks.

Discover a sanctuary in the heart of Los Angeles at 1 Hotel West Hollywood, located at 8490 Sunset Blvd., West Hollywood, CA 90069. For more information, please visit www.1hotels.com/west-hollywood.

As a luxury lifestyle hotel brand inspired by nature, 1 Hotels cultivates the best of sustainable design and architecture, together with extraordinary comfort and an unrivaled level of service. 1 Hotels, which launched in 2015 with the opening of exclusive properties in Miami’s South beach and Manhattan’s Central Park, followed by Brooklyn, located on Pier 1, in February 2017, is inspired by a simple idea: those that travel the world also care about it. 1 Hotels upholds this vision by channeling nature through design and culinary partnerships, while connecting with the local community and taking sustainable steps to make a big difference. 1 Hotel Central Park and 1 Hotel Brooklyn Bridge claimed Conde Nast Traveler’s #2 and #13 spots respectively in the Top 50 Hotels in New York City and 1 Hotel South Beach was awarded #7 in the top 10 Hotels in the United States. The brand is set to expand with properties in West Hollywood, CA, Haitang Bay, Sanya, Silicon Valley, CA, and Cabo San Lucas. Additional information can be found at 1hotels.com.

DoveHill is a real estate investment company founded in 2010 by Howard Wurzak and Jake Wurzak. Howard and Jake collectively have 50 years’ experience and lead a team of sophisticated real estate professionals in underwriting, acquiring, redeveloping, developing and repositioning real estate projects. For the past 26 years, their focus has been the hospitality sector and they have demonstrated an ability to excel using a low-cost basis, value-enhancing, institutional-quality approach to the development of hotel projects. DoveHill has an extensive infrastructure and network of professionals which allows them to create compelling investment opportunities in the hospitality sector by developing and repositioning deals at a cost basis below the competition. DoveHill benefits from the unique reputation enjoyed by its associated company, Wurzak Hotel Group, and uses the company to provide guidance in underwriting and strategy, and also to develop and manage the hotel projects.

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Atradius Collections Expands Its Presence in the United Arab Emirates

AMSTERDAM, July 9, 2019 /PRNewswire/ — Atradius Collections further expands its international presence in Dubai, the United Arab Emirates (UAE). The decision to open this local entity results from Atradius Collections’ development strategy. The new expansion aims to enhance the company’s expertise in collecting UAE-based cases and expand its global coverage.

Knowledge of local business practices and culture is a key success factor for debt collections. A presence in the UAE will allow Atradius Collections to provide better debt collections services in the Middle East.https://prnewswire2-a.akamaihd.net/p/1893751/sp/189375100/thumbnail/entry_id/1_1k01yqyq/def_height/400/def_width/400/version/100011/type/1

Economic growth has been modest in the region and trade has been under severe pressure due to an increase in the cost of doing business and geopolitical reasons. The number of runaway cases has increased disturbingly, resulting in many businesses struggling to recover their bad debts.

“The high uncertainty over trade tensions impairs the local economies that are already affected by a worldwide economic slowdown and fluctuating oil prices. This impacts payment morale. With our new local entity in Dubai, our customers will receive the support they need to recover their money. We are there where you need us,” said Raymond van der Loos, CEO at Atradius Collections.

“Considering the big event of Expo 2020 in the UAE, the governments in the Middle East increase their support for businesses. Our local presence will definitely boost our recovery rate and increase the confidence of our clients as well as the trade credit insurance policyholders of Atradius and its local partners,” said Vikas Malik, Country Manager at Atradius Collections.

For more information about our local operation and services, visit our website: www.atradiuscollections.com

About Atradius Collections

Through a presence in 33 countries, Atradius Collections provides trade invoice collections services in 96% of the countries across the world. Its wide breadth of services, ranging from first party to legal collections, helps companies around the globe recover unpaid invoices and manage accounts receivable.

For further information:
Vikas Malik (Country Manager South West Asia and the Middle East)
Email: vikas.malik@atradius.com

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Tunisia’s Upcoming Elections Vulnerable to Terror Threats, Experts Warn

As an estimated 6.7 million Tunisian voters prepare to head to the polls to elect their next government later this year, a growing fear of terrorist attacks could risk undermining the democratic process in the North African country, some analysts warn.

Two suicide attackers blew themselves up in two separate bombings against police in the capital Tunis on June 27, leaving at least one police officer dead and injuring eight people. A third bombing occurred on July 2 after a militant surrounded by police blew himself up.

Islamic State militant group claimed responsibility for all three attacks.

The incidents occurred during the peak of the country’s tourism season and as the country prepares to hold parliamentary elections in October and presidential elections in November.

The elections are critical for Tunisians in consolidating their democratic process, which began after the ousting of President Zine El Abidine Ben Ali during the Arab Spring protests in 2011, said Sarah Yerkes, an expert on Tunisia at the Carnegie Endowment for International Peace (CEIP) in Washington. As such, the country is going through “a dangerous time” because jihadist organizations that flourish in chaos will likely increase their activities to spread fear among voters.

“I think we are going to see more of these attacks in the months leading up toward the elections,” Yerkes said, speaking Tuesday at the “Tunisia at a Crossroads” panel discussion at CEIP.

Unlike its southern neighbor, Libya, where terrorism and armed conflict has plagued the country, Tunisia has taken strides to maintain a relative security, Yerkes said, adding, “Tunisia has done a tremendous job, largely because of the U.S. assistance and the European assistance, at shoring up its security services, security sector reform, and border control.”

However, jihadists remain active and pose a serious threat to the Arab country’s stability, she said.

Yerkes charged that increased terror attacks could also risk subverting the democratic process by giving authorities a justification to keep the country in a state of emergency.

“The fear is whether these attacks will be a pretense to have a harsher security measure. You can picture that you want to protect the elections and you want people to go out to vote. But if you have heavily armed election stations and if you have soldiers out at polls, that could hamper the democratic process by scaring people away.”

Tunisia has been in a state of emergency since mid-2015, when an IS-inspired attack killed 38 people at the Sousse tourist resort in northern Tunisia.

President Beji Caid Essebsi, after leaving hospital Friday, extended the state of emergency for another month in response to the recent bombings in Tunis.

Citing security concerns, Prime Minister Youssef Chahed signed a government order Friday that prohibits wearing a full-face veil � known as niqab � in public places.

Libya and Algeria

Emir Sfaxi, a public policy consultant on Tunisia, said Tunisian officials are concerned a militant threat could be imported from its south and western borders, as Islamists use escalation of Libya’s conflict and the Algerian political crisis to gain influence.

“Libya and Tunisia have open borders in a way that you can just cross with an SUV between Tunisia and Libya. Libya has been an open battlefield with guns all over,” Sfaxi said, adding that inability to control Tunisia-Libya borders allowed hundreds of radicalized Tunisians to travel to join jihadi groups such as IS in Iraq and Syria.

“I think that foreign powers in general need to keep supporting the Tunisian effort to control its borders as a regional security measure because if Tunisia fails, as the southern border of Europe, it is going to become a mess in the region,” Sfaxi said.

Thousands of fighters

A study by Tunisian Center for Research and Studies on Terrorism has found that about 69% of Tunisia’s jihadists had first traveled to Libya for military training. It concluded that the uncontrolled border has allowed the free flow of weapons and fighters between the two neighbors.

According to the United Nations, about 5,500 Tunisian citizens have traveled in recent years to Libya, Iraq and Syria to join the Islamic State and al-Qaida. Human Rights Watch, however, estimates the number could be higher, with nearly 6,500 having traveled to Syria and Iraq and about 1,500 to Libya.

With the IS territory in Iraq, Syria, and Libya retaken, many of those Tunisian jihadists who did not die in the battlefield escaped or were captured by U.S.-backed Syrian Democratic Forces and the Iraqi government.

Mokhtar Ben Nasr, the head of the government’s National Counterterrorism Commission, last February warned that about 1,000 of the jihadists had returned home between 2011 and 2018. Of the returnees, he said, some were arrested but a larger number re-entered the country covertly.


Oumayma Ben Abdallah, a human rights researcher and Tunisia analyst, said the Tunisian government should step up its de-radicalization efforts as more fighters return home and risk spreading the jihadi ideology.

“My recommendation at this stage is to focus more on rehabilitation programs,” Ben Abdallah said, warning that children and frustrated young people could easily fall prey to those who have returned from combat zones.

“Many terrorists who have fought in Libya and Syria are coming back to the country with no way to be rehabilitated into the society. These people are a great danger for the society as potential recruiters,” she said.

Source: Voice of America

Former leader of Algerian ruling party held in custody for suspected corruption

ALGIERS The Algerian supreme court held a former leader of the ruling National Liberation Front (FLN) in custody as part of a wide-scale crackdown on corruption.

Djamel Ould Abbes, former secretary-general of FLN and former minister of solidarity, attended a court hearing over charges of involvement in corruption during his tenure in government services from 1999 to 2010, reported state-run ENTV channel.

The 85-year-old is facing charges of public fund squandering, abuse of power, violation of public procurement procedures to sign contracts illegally and falsification of public documents.

He also held the health portfolio between 2010 and 2012 before being appointed the FLN secretary-general from 2016 to 2018 and then senator at the Council of the Nation.

Some former government senior officials, including two former prime ministers, Abdelmalek Sellal and Ahmed Ouyahia, were already in custody.

The anti-corruption campaign comes amid popular protests that have been shaking the North African nation since Feb. 22, in which the demonstrators demand a fight against corruption and the establishment of the rule of law.