CHICAGO, Dec. 6, 2018 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the first trades of USD Eris Interest Rate Swap Futures,
transitioned to CME Globex on Dec. 3,
2018. Ten firms have participated in trading since the
transition.
USD Eris Interest Rate Swap Futures provide a leading
alternative to traditional over-the-counter (OTC) interest rate
swaps, providing margin offsets with CME Group's suite of interest
rate futures products, including Treasury Futures, Eurodollar
Futures, Fed Fund Futures, and MAC Swap Futures.
"We are pleased to offer our customers the ability to trade USD
Eris Interest Rate Swap Futures here at CME Group," said
Agha Mirza, Global Head of Interest
Rate Products at CME Group. "The innovative product design offers
our customers another tool for capital-efficient risk management,
with unparalleled global distribution to fixed income traders."
"With its industry-leading suite of U.S. dollar interest rate
futures, extensive global distribution and functionality-rich CME
Globex platform, CME Group is well positioned to take Eris Swap
Futures to the next level of market adoption as a capital-efficient
alternative to OTC swaps," said Michael
Riddle, CEO of Eris Innovations, the owner of the Eris
Methodology, the patented product design of Eris Swap Futures.
"As an active participant in Eris Swap Futures markets,
BlueCrest welcomes the successful transition of this innovative
product on to the CME Group platform," said Michael Platt, CEO and Co-Founder of BlueCrest
Capital Management, the global private investment partnership. "The
migration to CME Globex further enhances BlueCrest's ability to use
Eris Swap Futures to trade swap risk, leveraging the unique
advantages offered by the futures market structure."
CME Group holds an exclusive licensing agreement with Eris
Exchange to list USD Eris Interest Rate Swap Futures, which have
cleared through CME Clearing since 2010. Existing open interest in
the contracts was transferred to CME Group on Dec. 3, 2018.
Eris Futures are listed with and subject to the rules and
regulations of CBOT. For more information, please
visit www.cmegroup.com/swapfutures.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) enables clients to trade futures,
options, cash and OTC markets, optimize portfolios, and analyze
data – empowering market participants worldwide to efficiently
manage risk and capture opportunities. CME Group exchanges offer
the widest range of global benchmark products across all major
asset classes based on interest rates, equity
indexes, foreign exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing. With a range of pre- and post-trade products and
services underpinning the entire lifecycle of a trade, CME Group
also offers optimization and reconciliation services through
TriOptima, and trade processing services through Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are
trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB,
and Traiana, Inc., respectively. Dow Jones, Dow Jones
Industrial Average, S&P 500 and S&P are service and/or
trademarks of Dow Jones Trademark Holdings LLC, Standard &
Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as
the case may be, and have been licensed for use by Chicago
Mercantile Exchange Inc. All other trademarks are the
property of their respective owners.
CME-G
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SOURCE CME Group