Miami – October 21, 2026 -- Miami International Holdings (NYSE: MIAX) has launched four physically-settled fertilizer futures contracts on MIAX Futures, giving the agricultural supply chain an exchange-traded tool to manage price risk in imported crop nutrients.
MIAX Futures lists four NOLA-based fertilizer contracts
The contracts cover NOLA Urea (ticker: MGU), NOLA Mono-ammonium Phosphate (MAP), NOLA Di-ammonium Phosphate (DAP) and NOLA Potassium Chloride (MOP). All four trade on the MIAX Futures Onyx electronic trading platform and are cleared through MIAX Futures Clearing.
Strait of Hormuz exposure drives the product rollout
MIAX Chairman and CEO Thomas P. Gallagher said one third of all fertilizer traded by sea passes through the Strait of Hormuz. Ongoing volatility in the region, he said, exposed significant vulnerabilities in the commodity's supply chain. He described the contracts as a "transparent, exchange-traded mechanism for managing risk and establishing price discovery during times of uncertainty."
CHS says price transparency supports purchasing and marketing decisions
Roger Baker, Vice President of the Crop Nutrients Product Line at CHS, the largest farmer-owned cooperative in the United States, said volatility in global fertilizer markets increases the importance of risk-management tools and price transparency. In his view, customers and suppliers gain tools to manage risk in purchasing, production and marketing decisions.
Shelly Brown, MIAX Chief Strategy Officer and CEO of MIAX Futures, said the exchange has worked with the agricultural industry for over a century. She said MIAX Futures remains committed to supporting customer needs through product and technology innovation.