CBOE Makes Minority Investment in Eris Exchange, Announces Partnership
CBOE and Eris will develop product solutions aimed at Basell III and other swaps regulations.
CBOE will join Eris' board of directors as part of the deal, financial terms of which were not disclosed. The two firms are also entering into a partnership to develop product solutions geared toward international regulatory reforms.
Basel III, European swap clearing and trading mandates and margin for un-cleared swaps were examples given in the release of potential areas of focus. The partnership will also lead to the development of new proprietary products and indexes across asset classes and increased distribution of Eris interest-rate swap futures and related market data.
"Our partnership with Eris demonstrates CBOE's ongoing focus on leveraging our product innovation expertise to capitalize on the continuing convergence of the over-the-counter (OTC) and listed marketplaces," said Edward Tilly, CEO of CBOE Holdings, in a statement. "Our partnership with Eris, like our partnership in CurveGlobal, positions CBOE to tap into that opportunity by bringing new capital efficiencies and exchange-traded products to the interest rate marketplace."
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