ICE Licenses Eris Methodology for 2015 Product Development
Pair target margin benefits with multi-year deal

Under the agreement, ICE is licensing the rights to list European and US credit default swap (CDS) futures and European interest-rate futures based on Eris Methodology.
The first product launch under the new deal will be a CDS future based on the Markit CDX North American Investment Grade and High Yield indices.
The contracts, to be launched in the first half of 2015, will be designed to provide the regulatory certainty of futures without compromising traditional over-the-counter characteristics such as five-year tenor, spread and price-based quoting conventions, recognition of credit events and the inclusion of price alignment interest.
The agreement also includes plans for ICE exchanges to list multiple other swap futures based on the Eris Methodology in 2015, including long-awaited products in European currencies.
ICE Futures Europe will list interest rate swap futures denominated in EUR and GBP, based on the product design of Eris’ US dollar-denominated Eris Standard Swap Futures and Eris Flex Swap Futures. All ICE swap futures products based on the Eris Methodology will be available to clients via the ICE trading platform.
“By facilitating the unique contract design that has been developed by Eris, we will be able to bring our customers unparalleled access to the European and US CDS markets and European interest rate markets through a regulated futures contract that can be cross-margined with ICE’s broad fixed income offering,” says Intercontinental Exchange chief strategy officer David Goone.
Adds Eris CEO Neal Brady, “ICE’s decision to partner with Eris and offer their global client base access to these products is further validation of the market’s adoption of the Eris Swap Futures product design. We look forward to the launch of swap futures for the CDS Index market, where trading already occurs in standardized coupons well-suited to benefit from the capital and operational efficiencies of futures.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Nasdaq looks to Thailand, Broadridge grows patent portfolio, GenAI concerns, and more
The Waters Cooler: MarketAxess gains majority control of RFQ consortium, the Bloomberg Terminal integrates with BNP’s Exane, and Isda extends reg reporting support to new Canadian rules in this week’s news roundup.
Growing pains: Why good data and fortitude are crucial for banks’ tech projects
The IMD Wrap: Max examines recent WatersTechnology deep dives into long-term technology projects at several firms and the role data plays in those efforts.
Overnight trading gets another boost with deal between FactSet’s LiquidityBook and Blue Ocean
FactSet’s recently acquired LiquidityBook OMS will grant buy-side clients access to overnight trading on Blue Ocean.
Optiver relies on BMLL market data for quant strategy
The market-maker has built its trading business on top of BMLL’s Level 3 data. But the collaboration is young, and the pair have grand plans to make options the next quant frontier.
Bloomberg expands IBVAL; the SIPs and 24/5 trading; Broadridge’s agentic play, and more
The Waters Cooler: State Street embraces interop, Citi’s CIO outlines the XiNG risk platform, power companies explore alternative nuclear supply options to datacenters, and more.
State Street’s interop play for FX and easing technical debt
Waters Wrap: About six years ago, State Street partnered with Interop.io to tie together its GlobalLINK suite of platforms. Anthony explores how this plays into the “reuse” mantra.
LSEG-AWS extend partnership, Deutsche Bank’s AI plans, GenAI (and regular AI) concerns, and more
The Waters Cooler: Nasdaq and MTFs bicker about data fees, Craig Donohue to take the reins at Cboe, and Clearwater closes its Beacon deal, in this week’s news roundup.
From server farms to actual farms, ‘reuse and recycle’ is a winning strategy
The IMD Wrap: Max looks at the innovative ways that capital markets are applying the principles of “reduce, reuse, and recycle” to promote efficiency and keep datacenters running.