Eris Adds Live Points On The Yield Curve
Liquidity Providers now stream firm, tradable 3Y and 4Y markets in the central limit order book in response to end user demand
CHICAGO, Oct. 18, 2016 /PRNewswire/ -- Eris Exchange (Eris), a U.S.-based futures exchange offering cash-settled swap futures as the leading alternative to traditional OTC swaps, began offering live streaming, tradable markets in 3Y and 4Y Eris Standard U.S. Dollar Interest Rate Swap Futures on August 29. The launch increased the live points on the yield curve from five to seven, enabling new hedging and spread trading opportunities. The new streaming contracts complement previous live markets in 2Y, 5Y, 7Y, 10Y, and 30Y Eris Standards already streaming in Eris SwapBook.
3Y and 4Y Swap Futures were listed as contracts on January 11, 2016 along with 12Y, 15Y and 20Y tenors, and swap effective dates for all Standards out to 10 years, but were only available for trading by voice and electronic RFQ. Eris commenced the streaming offering in the 3Y and 4Y Swap Futures to satisfy participant desire for liquidity throughout the trading day in these points on the curve. This expansion provides unprecedented OTC swap-like yield curve granularity to the Eris Swap Futures yield curve. 3Y and 4Y Eris Standards set a combined open interest record of more than 2,100 contracts on October 7.
Carl Schmidt, CEO of Hydrus Capital, commented on the trading opportunities available with all day live markets in these two additional tenors, "Streaming 3Y Eris markets provide a liquid swap future in a part of the curve with real commercial hedging needs. Since the maturity of the 4Y Eris contract more closely matches CME Group's U.S. Treasury 5Y Note Future, live streaming markets now facilitate easier spreading."
"We are excited to be offering live streaming markets in these 3Y and 4Y Eris contracts, which were first listed at the start of the year," said Geoff Sharp, Global Head of Sales at Eris Exchange. "These developments are further evidence and an endorsement of Eris as an alternative to the OTC interest rate swap market."
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 170,000 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, 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:
Christopher Rodriguez
Chief Marketing Officer
(212) 561-5472
[email protected]
Learn more about Hydrus Capital LLC:
Carl Schmidt
Chief Executive Officer
(203) 770-0723
[email protected]
SOURCE Eris Exchange
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