CME Group Announces 10 Firms Trading USD Eris Interest Rate Swap Futures on CME Globex

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CME Group

CME Group Announces 10 Firms Trading USD Eris Interest Rate Swap Futures on CME Globex

December 12, 2018

CME GroupCHICAGODec. 6, 2018 /PRNewswire/ — CME Group, the world’s leading and most diverse derivatives marketplace, today announced the first trades of USD Eris Interest Rate Swap Futures, transitioned to CME Globex on Dec. 3, 2018. Ten firms have participated in trading since the transition.

USD Eris Interest Rate Swap Futures provide a leading alternative to traditional over-the-counter (OTC) interest rate swaps, providing margin offsets with CME Group’s suite of interest rate futures products, including Treasury Futures, Eurodollar Futures, Fed Fund Futures, and MAC Swap Futures.

Agha Mirza
Agha Mirza

“We are pleased to offer our customers the ability to trade USD Eris Interest Rate Swap Futures here at CME Group,” said Agha Mirza, Global Head of Interest Rate Products at CME Group. “The innovative product design offers our customers another tool for capital-efficient risk management, with unparalleled global distribution to fixed income traders.”

“With its industry-leading suite of U.S. dollar interest rate futures, extensive global distribution and functionality-rich CME Globex platform, CME Group is well positioned to take Eris Swap Futures to the next level of market adoption as a capital-efficient alternative to OTC swaps,” said Michael Riddle, CEO of Eris Innovations, the owner of the Eris Methodology, the patented product design of Eris Swap Futures.

“As an active participant in Eris Swap Futures markets, BlueCrest welcomes the successful transition of this innovative product on to the CME Group platform,” said Michael Platt, CEO and Co-Founder of BlueCrest Capital Management, the global private investment partnership. “The migration to CME Globex further enhances BlueCrest’s ability to use Eris Swap Futures to trade swap risk, leveraging the unique advantages offered by the futures market structure.”

CME Group holds an exclusive licensing agreement with Eris Exchange to list USD Eris Interest Rate Swap Futures, which have cleared through CME Clearing since 2010. Existing open interest in the contracts was transferred to CME Group on Dec. 3, 2018.

Eris Futures are listed with and subject to the rules and regulations of CBOT. For more information, please visit www.cmegroup.com/swapfutures.

As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest ratesequity indexesforeign exchangeenergyagricultural products and metals.  The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing.  With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively.  Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor’s Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc.  All other trademarks are the property of their respective owners.

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