Global Capital Article | Seven Year Swap Future Popularity Spikes, Eris Says


Eris Exchange has seen increased popularity in its seven-year standard swap futures contract, as firms look for ways to avoid the swap execution facility mandate for packaged trades under Dodd-Frank. 

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In its August report, Eris noted 7y swap future accounted for 11% of the volume traded by Eris in August 2014, compared to 3% of total volume traded in March. Kevin Wolf, chief business and product development officer at Eris in NY estimated 7y swaps make up about 7% of the over the counter swap market in the US. He said invoice spreads – where investors trade swaps alongside treasury futures – have been traded in the US for a long time, but have recently hit regulatory complexity, which has contributed to demand for an alternative. 

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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.