CHICAGO, Jan. 25, 2017 /PRNewswire/ -- Eris Exchange (Eris), the U.S.-based futures exchange offering cash-settled swap futures as the leading alternative to traditional OTC swaps, announced that George Harrington has joined the company. He will lead the completion of on-boarding critical support providers for clearing, order management and execution. In doing so, Mr. Harrington will be instrumental in rounding out Eris' client offering and making Eris Swap Futures easily available to the world's largest OTC swap users. This latest hire complements the Exchange group's recent executive appointments in Chicago, New York and London, reflecting a continued focus on growing the global footprint.
Mr. Harrington was formerly head of Bloomberg Global Markets. In that position, he was responsible for the overall strategy and delivery of FIT, FXGO and EMSX. Mr. Harrington also oversaw Bloomberg's SEF, MTF, and Japanese ETP regulated trading platforms.
"For my entire career, I have been focused on delivering workflow innovation within an evolving market structure. But today's regulatory framework is ushering in innovation that will make the global financial markets more transparent and more efficient for all participants, and Eris sits on this short list," said George Harrington, CFA. "Eris has been systematically building the infrastructure and product set to be significant to OTC players. With $500mm resting liquidity at 0.3 BPS spread at the liquid points on the curve, Eris is now able to service all swap participants' needs."
"George adds a wealth of knowledge in interest rate and credit markets with a focus on the evolving needs of the buy side," said Neal Brady, CEO of Eris Exchange. "He brings deep client relationships and valuable expertise to Eris as we continue to broaden our user base and meet the needs of the interest rate and credit derivatives community. We are thrilled he is now part of the team."
Mr. Harrington also previously held executive positions at Tradeweb managing the credit default swap execution business and at PriceWaterhouseCoopers, where he worked in corporate valuations. Mr. Harrington holds a Master's degree in Business Administration from Boston College and is a Chartered Financial Analyst.
About Eris Exchange, LLC:
The Eris Exchange is a U.S. futures exchange registered as a Designated Contract Market with the CFTC. The Exchange lists cash-settled interest rate swap futures with current open interest of 175,000 contracts in USD Interest Rate Swap Futures. Eris Interest Rate Swap Futures listed on Eris are cleared by CME Clearing, and are based on the Eris Methodology™, an award-winning product design for constructing swap futures in a capital-efficient manner through intellectual property, expertise and patent-pending innovations. Eris contracts enjoy margin offsets against the CME rates complex, which includes Eurodollar and Treasury Futures, and represents $12.6 trillion notional in Open Interest. The Eris Methodology is also licensed by Intercontinental Exchange (ICE), Johannesburg Stock Exchange (JSE), TMX Group companies including Montreal Exchange (MX), and CBOE Futures Exchange (CFE) for listing interest rate, equity variance and credit default swap futures. Trademarks of Eris Exchange and/or its affiliates include Eris, Eris Exchange, Eris SwapBook, Eris BlockBox, Eris PAI, Eris Methodology, Eris Pricing Engine and the Eris Logo. For more information, visit Eris Exchange online at http://www.erisfutures.com or follow Eris on Twitter @erisfutures.
Eris Media Contact:
Chief Marketing and Relationship Management Officer
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/eris-exchange-adds-george-harrington-former-head-of-bloomberg-global-markets-300396134.html
SOURCE Eris Exchange, LLC