CHICAGO, Dec. 1, 2015 /PRNewswire/ -- Eris Exchange (Eris), a U.S.-based futures exchange group offering swap futures as a capital-efficient alternative to OTC swaps, announced that Societe Generale recently began streaming electronic markets to Eris SwapBook, Eris Exchange's executable and anonymous central limit order book for U.S. Dollar Interest Rate Swap Futures cleared by CME Clearing.
"We are excited to add our streaming liquidity to the Eris Exchange order book as we continue to provide our clients with the most capital-efficient solutions to meet their hedging and trading needs," said Mohamed Braham, Managing Director, Global Head of Linear Rates Trading at Societe Generale Corporate & Investment Banking. Societe Generale's electronic market making complements the bank's other Eris-related offerings including RFQ liquidity for block trades, clearing services, agency execution and electronic order routing.
In addition to streaming live two-way markets to the central limit order book, the Societe Generale trading desk is active in responding electronically to clients with markets in Off-The-Run Eris Standards. Societe Generale is also leveraging new Fidessa gateways across the firm and will be using them for electronic trading of Eris Exchange markets including client order routing and agency execution.
"'New world' exchange traded interest rate risk management tools, like Eris, are essential in the era of Dodd-Frank, EMIR and Basel III. We congratulate Societe Generale on this development and look forward to further announcements to extend the scale and breadth of this and other complementary electronically traded offerings," said Russ Oxley, Head of Rates and LDI at Old Mutual Global Investors.
"Societe Generale streaming live prices to Eris SwapBook represents another important step in the development of liquidity for Eris U.S. Dollar Swap Futures as we continue to set new volume and open interest records," said Neal Brady, Chief Executive Offer of Eris Exchange. "End-users are benefiting from tighter markets and deeper order books in Eris standardized futures across tenors, including 2, 5, 7, 10 and 30 year instruments."
About the Societe Generale Relationship with Eris Exchange
Societe Generale, or its affiliates, is liquidity provider for voice and electronic markets on the Eris Exchange, has an equity interest in and is a member of the board of directors for Eris Holdings, LLC, the parent company of Eris Exchange.
About Eris Exchange
Eris Exchange is a 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 160,000 contracts. Eris Swap Futures listed on Eris Exchange are cleared by CME Clearing, and are based on the Eris Methodology™, our award-winning product design for constructing swap futures in a capital-efficient manner through intellectual property, expertise and patent-pending innovations. The Eris Methodology is also licensed by Intercontinental Exchange, Johannesburg Stock Exchange and Montreal Exchange. Trademarks of Eris Exchange and/or its affiliates include Eris, Eris Exchange, Eris SwapBook, Eris BlockBox, Eris PAI and Eris Methodology. For more information, visit Eris Exchange online at www.erisfutures.com or follow us on Twitter @erisfutures.
SOURCE Eris Exchange