MIAX, as the company is known, raised $345 million in a heavily oversubscribed deal that priced above the marketed range of $19 to $21 apiece. The trading gives MIAX a market value of $2.4 billion based on the outstanding shares listed in its filings.

Shares of Miami International Holdings jumped 38% from their initial public offering price, valuing the exchange operator at about $2.5 billion on its debut in New York on Thursday.

Miami International Holdings, or MIAX, had previously said it was looking for an initial offering price of between $19 and $21.