Eris Exchange to distribute market data through CME

Source: Eris Exchange

Eris Exchange, a US-based futures exchange announced today they have reached an agreement to distribute market data from the Eris SwapBook(TM) electronic trading platform through the CME Market Data Platform, commencing in March 2012.

Distributing market data for its innovative Interest Rate Swap Futures contract through CME Group provides Eris Exchange access to hundreds of thousands of subscribers in 150 countries via CME Group's eleven global telecommunications hubs.

"Eris Exchange broadens access to the interest rate swap market by offering capital efficient futures contracts that trade transparently in a central limit order book and settle to the CME swap curve," said Michael Riddle, Chief Operating Officer of Eris Exchange. "Collaborating with CME Group allows us to extend our reach to swap end-users demanding real-time, intraday swap market price information."

"In addition to being a leading clearing service for interest rate swaps, CME Group is also focused on delivering new and valuable swap derivative market data to our customers," said Brian McElligott, Managing Director of Information Products Management for CME Group. "Distributing Eris Exchange data through the CME Market Data Platform allows our extensive network of trading firms and market data distributors to access their data through familiar protocols and formats using existing telecommunications connections."

Through more than 300 direct connections, the CME Market Data Platform serves approximately 630 licensed market data distributors.

"Our customers need access to the broadest interest rate market data for relative value and price discovery to make optimal investment decisions," said Jamie Grant, Head of Rates and Money Markets, for Thomson Reuters. "The addition of Eris Exchange data to RatesViews on Eikon provides valuable swaps derivatives data that further expands our pre-trade decision tools for trading and swap market price discovery. This enables our customers to quickly and easily compare and evaluate the new margin and risk efficiencies that Eris Exchange brings to the interest rate marketplace."

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