Wells Fargo Connects to Eris Exchange's SwapBook

Neal Brady, Eris Exchange CEO

The bank will serve as both a liquidity provider and futures commission merchant (FCM) for Chicago-based Eris Exchange, the swaps execution facility specializing in interest rate swaps and offering a proprietary swaps future product.

The deal will allow Wells Fargo clients to directly access SwapBook, Eris Exchange's electronic central limit order book (CLOB), as well as provide central clearing support.

"We're proud to offer clearing services and access to Eris for our clients, who will enjoy portfolio margining, trading access to the deepest pools of swap futures liquidity, and margin offset for Eris swap futures positions against other futures held at CME Clearing as a result," says George Simonetti, managing director and global head of clearing for Wells Fargo Securities.

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