CHICAGO, IL -- (PRNewswire) Eris Exchange announced that open interest in its USD Interest Rate Swap Futures products surpassed $10,000,000,000 in notional value, equivalent to 100,000 contracts, on Friday, February 21, 2014. The Exchange achieved this major milestone just days after the highly anticipated first day of mandatory trading of interest rate swaps on Swap Execution Facilities in U.S. markets.
Eris Exchange Open Interest Crosses $10,000,000,000 Notional
CHICAGO, IL -- (PRNewswire) Eris Exchange announced that open interest in its USD Interest Rate Swap Futures products surpassed $10,000,000,000 in notional value, equivalent to 100,000 contracts, on Friday, February 21, 2014. The Exchange achieved this major milestone just days after the highly anticipated first day of mandatory trading of interest rate swaps on Swap Execution Facilities in U.S. markets.
"We are delighted with the recent growth in open interest coinciding with the first implementation phase of the Dodd-Frank trading mandate,” said Neal Brady, Chief Executive Officer of Eris Exchange. "In recent weeks, we have seen numerous swap end users migrate to Eris Swap Futures as the marketplace wrestles with the new swap execution mandates. The new client interest has driven our record open interest which in turn begets even greater liquidity on our platform.”
“Recent growth in Eris Swap Futures open interest clearly demonstrates strong client demand for a LIBOR hedging product that combines swap economics, agency execution, and all of the capital and operational efficiencies of a traditional futures product,” said John Coleman, Director of the Fixed Income Group & Senior Vice President of R.J. O'Brien & Associates. “Clients are also attracted to the growing market depth on the platform as additional liquidity providers come on-line with two-way actionable markets for the Eris products.”
Beginning this week, anonymous, streaming, Central Limit Order Book markets are live on the Eris platform for June Eris Standard Swap Futures as well as the March-June calendar roll for Eris Standard Swap Futures. Live, real-time market data for Eris Swap Futures is available on Bloomberg at ERIS1or www.erisfutures.com. Eris Exchange is a futures exchange (Designated Contract Market) subject to CFTC jurisdiction, listing cash-settled interest rate swap futures with open interest exceeding 100,000 contracts. Eris Exchange contracts are cleared by clearing firms through CME Clearing, the global leader in derivatives clearing. Eris SwapBook and Eris BlockBox are registered trademarks of Eris Exchange. For more information, visit Eris Exchange online at www.erisfutures.com or follow us on Twitter @erisfutures
Eris Exchange is a futures exchange (Designated Contract Market) subject to CFTC jurisdiction, listing cash-settled interest rate swap futures with open interest exceeding 100,000 contracts. Eris Exchange contracts are cleared by clearing firms through CME Clearing, the global leader in derivatives clearing. Eris SwapBook and Eris BlockBox are registered trademarks of Eris Exchange.