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2017 Review: Innovation Award, Tightening CLOBs, Record OI and Expanding Network
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As 2017 comes to a close, we reflect on the past year and are pleased with the many milestones we have achieved. From our recent Risk.net 2018 Exchange Innovation of the Year Award for the
Live Eris Swap Curve
, to the finalization of our
US patent for the Eris methodology.
We have also expanded our ecosystem of FCMs and critical software services providers, bringing Eris to a wider audience, and we have built tools for our customers, like our
Excel add-in
and
futures price calculator
, which make it easier to analyze and evaluate Eris markets. And despite the backdrop of a decline in interest rate volatility in 2017, we have expanded our user base, adding new active traders and long-term hedgers.
Looking ahead, we are excited about the offering we bring to the market, and highlight continued record open interest levels and tighter markets, where 94% of the trading day our 5Y order book bid/ask is 0.4 basis points or tighter, and 57% of the time it is 0.3 or tighter.
Creating the Eris Swap Futures market has involved partnering with many diverse participants, we are grateful for the hard work and interest you have all shown in 2017, and we look forward to continuing these partnerships and building new ones next year. Happy Holidays!
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Risk.net Exchange Innovation of the Year Awarded to Eris
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We are delighted to announce that Risk.net has selected Eris Exchange as the winner of its 2018 Exchange Innovation of the Year Award for the development of the Live Eris Swap Curve.
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The Live Eris Swap Curve is the first interest rate swap curve anchored to tradeable central limit order book prices that is accessible and tradeable by anyone with a futures account. The Eris curve data includes real-time pricing and risk analytics, bringing an unprecedented level of transparency to the swap market, and widening the availability of a benchmark curve beyond bulge-bracket wholesale participants. As an easily accessible exchange traded market, Eris allows a greater range of participants to value and manage their interest rate risks efficiently.
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Live Eris Swap Curve: Overview & Updates
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This data-set is available via direct
FIX API connection
to the Eris SwapBook matching engine, is also freely and easily available to anyone with an internet connection through the
Eris MS Excel Add-In
, or via second by second FTP snapshot files. Accessing this data requires no complex or expensive market data service connections.
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Platform Enhancements, Product Updates,
& Reference Materials
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Interactive Brokers Adds Eris Swap Futures
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Interactive Brokers has completed its onboarding of Eris Exchange and is now offering its 474,000 client accounts the ability to execute and clear Eris Swap Futures.
The addition of full electronic access for Eris Swap Futures by Interactive Brokers makes swap risk accessible to a new class of clients, representing another important milestone for Eris.
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Wedbush Futures Joins Eris as a Clearing Firm
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Wedbush Futures has recently joined Eris as a Futures Commission Merchant (FCM) to offer clearing and execution for Eris contracts. This new partnership bolsters Eris’ distribution, as Wedbush's clients include new trading firms to provide liquidity in Eris Swap Futures, and new end users from their institutional client base.
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Tax Summary Treatment for Eris Swap Futures
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Learn about tax treatment for Eris Swap Futures and see how Eris positions may be exempted from annual 1256(a) mark-to-market tax treatment.
If identified as a hedging transaction to manage risk of interest rate, or price changes with respect to borrowings or ordinary obligations of the taxpayer, then gains/losses may become taxed as realized, similar to treatment for OTC swaps.
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Access the New Traders' Corner Page Today
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Visit the new streamlined Traders' Corner webpage, your one stop resource page for all information on Eris Swap Futures.
Access trading strategy ideas, Eris tools and analytics, learn about platforms supporting Eris, and much more.
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Copyright © 2017. Eris, Eris Exchange, Eris SwapBook, Eris BlockBox, Eris PAI, Eris Methodology, Eris Pricing Engine and the Eris Logo are trademarks of Eris Exchange and its affiliates. Other trademarks, service marks, trade names, product names and logos contained herein are the property of their respective owners. All Rights Reserved.
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