Eris Exchange Announces A Single Day Trading Volume Record

CHICAGO, May 15, 2013 /PRNewswire via COMTEX/ — Eris Exchange, a US-based futures exchange offering swap futures as a capital-efficient alternative to traditional OTC interest rate swaps, today announced that on May 10, 2013, market participants traded a record $1.27 billion in notional value. The volume record is equivalent to 12,700 contracts, adjusting for the impending contract size change to $100,000 notional. This change will take effect June 3, 2013, pending all relevant CFTC regulatory review periods.

“Eris Exchange volume and open interest continue to grow as the Category 2 swap clearing mandate approaches in June and clients recognize the capital and operational efficiency of trading cash-settled swap futures,” said Neal Brady, CEO of Eris Exchange. “The addition of Morgan Stanley as a liquidity provider has deepened the markets for quarterly Eris Standards and Eris Flexes, prompting increased trading by traditional swap market participants.”

“Friday’s trading volume record is a strong sign in advance of Category 2 clearing that market participants are looking for alternative products,” said Ciaran O’Flynn, Co-Head of Flow Rates Trading EU and Head of Global Rates Electronic Trading for Morgan Stanley. “Morgan Stanley is actively providing liquidity on Eris Exchange in both standardized and flexible products to our global swaps and futures end user client base.”

Eris Exchange is a futures exchange (Designated Contract Market) subject to CFTC jurisdiction and trades US Dollar-denominated interest rate swap futures. Eris Exchange contracts are cleared by CME Clearing, a leading derivatives clearing house. For more information, visit Eris Exchange online at www.erisfutures.com/press-news.

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