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Miami International Holdings Announces Timeline for Migration of Minneapolis Hard Red Spring Wheat Trading to New MIAX Futures Onyx Platform

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Miami International Holdings Announces Timeline for Migration of Minneapolis Hard Red Spring Wheat Trading to New MIAX Futures Onyx Platform


MIAMI and PRINCETON, N.J., Jan. 23, 2025 /PRNewswire/ — Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced it will migrate Minneapolis Hard Red Spring Wheat (Minneapolis HRSW) futures to its MIAX Futures™ Onyx platform in Q2 2025. Minneapolis HRSW futures will continue to be available for trading on CME Globex® until the launch of MIAX Futures Onyx.

(PRNewsfoto/MIAX)

“MIAX Futures (formally Minneapolis Grain Exchange) has strong, collaborative relationships with key Minneapolis HRSW market participants dating back over a century,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. “The launch of MIAX Futures Onyx represents MIH’s commitment to supporting the agricultural industry with continued investments in programs to promote liquidity, offer competitive fee schedules and develop industry-leading technology.”

The launch of MIAX Futures Onyx aligns with the strategy to build and operate all MIH’s markets on proprietary technology and will significantly expand the range of products and clearing services offered to customers. MIH is in the final phase of modernizing the MIAX Futures clearing infrastructure with new risk management capabilities, including back testing, stress testing, and support for real-time variation calculations. The launch of MIAX Futures Onyx will complete the modernization of the entire MIAX Futures trading and clearing infrastructure.

Mr. Gallagher added, “Industry feedback was critical in the design and development of MIAX Futures Onyx and we believe the new trading platform will provide the industry with a new standard for fast, reliable, and innovative capabilities when it launches later this year.”

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Please visit the MIAX Futures Onyx Information Hub to access technical resources, connectivity guides and additional information on connectivity to the MIAX Futures Firm Test Bed Environment. Certain aspects of the migration of Minneapolis HRSW futures to MIAX Futures Onyx, including timelines, are subject to regulatory filings with the Commodity Futures Trading Commission.

About MIAX
MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), MIAX Sapphire LLC (MIAX SapphireTM), MIAX Futures Exchange, LLC (MIAX FuturesTM), MIAX Derivatives Exchange (MIAXdxTM), The Bermuda Stock Exchange (BSX) and Dorman Trading, LLC (Dorman Trading).



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Minneapolis, MN

Minnesota snow causing slick spots on roads

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Minnesota snow causing slick spots on roads


Winter weather is back, with flakes falling across the area Tuesday night and early Wednesday. Snow has led to slush on the roads in the Twin Cities metro, which is creating slick spots on roadways – especially on bridges and overpasses, as well as side streets and parking lots. 

The slick spots are patchy because the ground has been so warm over the past few days. The warm ground has also helped keep snow totals lower. However, there are minor accumulations in the Twin Cities, especially north of the metro, where there is a winter weather advisory in effect until Wednesday afternoon.

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Snow is expected to wind down by around sunrise Wednesday. Skies will then clear, making way for afternoon sun and a high of around 39 degrees. Any snow that did fall is expected to melt pretty quickly. 

Find live updates on weather and road conditions below, and watch FOX 9 live in the player above. 

7:10 a.m. – Icy roadways

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MnDOT is reporting roads in the Twin Cities being partially covered or completely covered in ice for the morning commute. This is causing crashes and backups across the metro. 

You can find the latest road conditions from MnDOT here.

6:40 a.m. – Crashes reported

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A couple of crashes have been reported in the Twin Cities metro, including on Highway 169 in Shakopee, which is slowing down traffic for the morning commute. 

This comes as slippery conditions have been reported across the Twin Cities metro. 

You can find the latest road conditions from MnDOT here.

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6 a.m. – Plows out salting

Plows are out in the Twin Cities metro area clearing up the slushy roadways and dropping salt, as temperatures hover around the freezing mark Wednesday morning. 

MnDOT is reporting partially covered roads in the Twin Cities, with a couple completely covered roadways in the southwest metro and north of the Twin Cities. 

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You can find the latest road conditions from MnDOT here.

5:30 a.m. – Slushy spots on Twin Cities roadways

There are some slick spots on Twin Cities roadways, with MnDOT reporting most roads are partially covered in snow or slush. 

You can find the latest road conditions from MnDOT here.

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Minneapolis, MN

Paid Family Leave Act strains Minnesota businesses, Chamber says

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Paid Family Leave Act strains Minnesota businesses, Chamber says


Minnesota businesses are facing significant hurdles with the state’s new Paid Family and Medical Leave Act, just two months after its implementation.

Challenges faced by businesses

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What we know:

The Minnesota Chamber of Commerce shared that 80% of its 6,300 members already offered some form of paid leave before the state mandate. Business owners are now experiencing increased costs and frustration due to the new requirements.

The Chamber highlighted several concerns, including the program’s complexity, slow execution, and disruption for small or seasonal businesses. There are also worries about potential misuse and long-term financial sustainability.

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What they’re saying:

“Beyond just anti-fraud sentiments, employers are reporting a few concerning trends, a few examples. Providers are being pressured by patients for the full 12 weeks of leave, even if their condition does not require it. A number of respondents have shared that their employees are making more on paid leave than the wage replacement thresholds in law,” said Lauryn Schothorst of the Minnesota Chamber of Commerce. “Employees are going on vacation or to music festivals while supposedly on leave. These anecdotes don’t necessarily reveal fraud or a lack of oversight by the department. They highlight concerns with the broad eligibility and limited employer recourse elements of the law. To employers, overuse is abuse,” said Lauryn Schothorst with the Minnesota Chamber of Commerce.

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While some employees have reported issues with applying for and receiving benefits, the majority seem to be experiencing no major problems. However, it’s important to note that the program is still in its early stages, and there is much to learn.

What we don’t know:

It’s unclear how these issues will evolve as the program continues and whether adjustments will be made to address business concerns.

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Minneapolis, MN

North Loop restaurant sends urgent plea to customers to come back to downtown Minneapolis

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North Loop restaurant sends urgent plea to customers to come back to downtown Minneapolis


In a popular night spot like Minneapolis’ North Loop, it may come as a surprise to learn there are struggling restaurants there, but the owners of Dario said that is their new reality.

For two years, Dario has been serving up homemade pasta and cocktails.

“We’re not going to last much longer, nor are any of the other places you like to frequent, if we don’t get out here and try to experience these places,” said Stephen Rowe, Dario’s co-owner and beverage director.

Rowe and Executive Chef Joe Rolle recently sent a message to those on the restaurant’s e-mail list, writing that the recent U.S. Immigration and Customs Enforcement surge, combined with a challenging winter season, has caused a nosedive in reservations. They’re asking for customers to come back downtown.

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“Like everybody else who owns a business around here and in the city, it’s just kind of like a gut punch,” said Rowe.

Customers, in particular from the suburbs, haven’t been coming in as much, Rolle said.

“They see a lot of things online, they see things on TV,” said Rowe.

“No one thought that North Loop was really affected, but we were,” said Mary Binkley, president of the North Loop Neighborhood Association.

Binkley said the past few months have been tough for North Loop restaurants.

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“January and February were certainly heavy and that’s because people were spending their restaurant dollars elsewhere, in immigrant-owned restaurants, restaurants in neighborhoods where there was more ICE activity,” said Binkley.

Recently, foot traffic has been steadily improving in the neighborhood, Binkley said. With St. Patrick’s Day and Minnesota Twins games right around the corner, she said she is confident people will return.

“This is a place in a two-block radius where a lot of everyone’s favorite restaurants are,” said Binkley.

Dario’s owners said they have been forced to cut back on hours and shifts for employees. Meanwhile, they’ve launched lunch service on Thursdays and catering with the hopes of boosting business and saving the jobs of their 80 employees.

“A restaurant can take, you know, one or two bad weeks, but we’ve all had eight bad weeks in a row, so we’ve got a lot of digging out to do,” said Rolle.

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