The Eris Exchange is the first exchange to offer an USD interest rate swap futures contract that replicated the economics of an over-the-counter swap. The Eris Swap Future contract is cleared at the CME clearing corporation, and the product's proprietary design allows users to hedge their interest rate exposure more efficiently.
Currently, Eris Exchange's two primary products are the Eris standardized USD interest rate swap future product and the Eris flexible USD interest rate swap future contract. The Eris "Flex" contract allows any user to replicate an OTC USD interest rate swap, but because of its designation as a futures contract, many of the regulatory requirements now needed with the implementation of Dodd/Frank are satisfied. The Eris Standard product is more generic in nature and is settled on the IMM effective dates. Currently, Eris offers standardized tenors in 2-Year, 5-Year, 7-Year, 10-Year, and 30-Year increments, with additional maturities to be added in 2016. The true advantage of the standardized product is the significant reduction in margin dollars required to hold a position.
In addition to the USD interest rate swap products, Eris Exchange plans on expanding their product offerings to non-dollar interest rate swaps and
credit index futures as well. For more information on Eris Exchange visit www.erisfutures.com.
© 2015 R.J. O'Brien & Associates LLC
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