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.

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

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.