Interactive Brokers Adds Eris Swap Futures
Eris Swap Futures now electronically available to 418,000 new accounts, with over $103 billion in client equity
CHICAGO, Oct. 11, 2017 /PRNewswire/ -- Eris Exchange (Eris), a U.S.-based futures exchange group that offers swap futures as the leading alternative to traditional over-the-counter (OTC) swaps, has announced that top online electronic brokerage firm, Interactive Brokers Group, Inc. (NASDAQ GS: IBKR), is now offering its 418,000 client accounts execution and clearing support for Eris Swap Futures.
Swaps are OTC financial contracts that are commonly used for hedging interest rate exposures or expressing interest rate views. Examples include protecting a bond portfolio from price reductions due to rising interest rates, or expressing a view on interest rates or the shape of the yield curve. However, OTC swaps have historically not been available to all investors. This is now possible with Eris Swap Futures, which may be traded by anyone with a futures account as exchange-traded contracts, clearing at CME Clearing.
The addition of full electronic access for Eris Swap Futures by Interactive Brokers not only contributes to the expansion of their existing global market footprint that spans 120 different markets across 24 countries and 22 currencies, but makes swap risk accessible to a new class of clients, representing another important milestone for Eris.
"Over the past 40 years, Interactive Brokers Group has grown organically by applying innovative technology and meeting investors' needs for seamless, electronic access to global financial markets. This strategy continues today with the addition of Eris Swap Futures," said Steve Sanders, Executive Vice President, Marketing & Product Development at Interactive Brokers. "At the core of our business is Interactive Brokers' on-line electronic brokerage platform, which provides access to a wide range of global asset classes. We are expanding our broad product offerings with the inclusion of Eris Swap Futures."
"Interactive Brokers' decision to offer Eris comes as we see growing demand for swap futures from investors and exposure hedgers that are frustrated by the rising costs and limited access to OTC swap markets," said Geoff Sharp, Managing Director, Head of Sales at Eris Exchange. "With Interactive Brokers now offering Eris Swap Futures, thousands of new users gain access to interest rate swap risk, a market previously beyond their reach."
To learn more about Eris Swap Futures and how they may be used as an investment instrument, or as an exposure hedging tool, contact your financial advisor or Eris Exchange at [email protected].
About Eris Exchange, LLC:
Eris Exchange is a U.S. futures exchange registered as a Designated Contract Market with the CFTC. The Exchange lists USD cash-settled interest rate swap futures that trade electronically on the Eris SwapBook and clear through CME Clearing. Open Interest in Eris USD Interest Rate Swap Futures has recently reached 200,000 contracts, and they receive seamless margin offsets against the CME rates complex, including Eurodollar and U.S. Treasury 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.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 120 markets in numerous countries and currencies from a single IB Universal AccountSM to customers worldwide. IB services individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Four decades of focus on technology and automation has enabled IB to equip its customers with a uniquely sophisticated platform to manage their investment portfolios at the lowest cost according to Barron's Best Online Brokers review, March 20, 2017. IB strives to provide its customers with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low prices, positioning them to achieve superior returns on investments.
Eris Media Contact:
Geoff Sharp
Managing Director
646.961.4489 [email protected]
Interactive Brokers Media Contact:
Kalen Holliday
203.913.1369 [email protected]
SOURCE Eris Exchange
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