Eris Exchange(Eris), a U.S.-based futures exchange that offers swap futures as the leading alternative to traditional over-the-counter (OTC) swaps, and Wedbush Futures jointly announced thatWedbush Futuresis the latest Futures Commission Merchant (FCM) to join Eris Exchange, and offer execution and clearing of Eris Swap Futures.
“Successful organic growth of the Eris eco-system is contributing to acceleration in user interest for Eris Swap Futures by hedgers and institutional investors, as evidenced by our recent open interest record of more than 200,000 contracts,” saidGeoff Sharp, Managing Director at Eris Exchange. “Adding Wedbush further bolsters Eris’ distribution, as their clients include new trading firms to provide liquidity in Eris Swap Futures, and new end users from their institutional client base.”
Neal Brady, CEO of Eris Exchange added, “Wedbush’s addition of Eris comes on the heels of FASB’s recent amendments to hedge accounting guidelines, and the Federal Reserve’s proposed capital treatment rule changes for OTC swaps, which should combine to make swap futures more attractive to implement. Eris is positioned as the optimal alternative to meet client hedging and trading needs, and Wedbush will help bring this opportunity to more users.”
