The exchange operator had previously said it was looking for an initial offering price of between $19 and $21.

Miami International Holdings Inc. rose 36% from its initial public offering price as the exchange operator became the most recent financial services business to get a warm welcome in its trading debut.

In a rare move in the financial exchange world, Miami International, the parent company of the MIAX exchange, is coming public and is expected to start trading on the New York Stock Exchange as soon as Aug.