Eris Exchange extends execution and clearing to Wedbush Futures’ network of professional traders and institutional clients.
Chicago, IL – Ocotober 17, 2017 – Eris Exchange (Eris), a U.S.-based futures exchange that offers swap futures as the leading alternative to traditional over-the-counter (OTC) swaps, and Wedbush Futures jointly announced today that Wedbush Futures is the latest Futures Commission Merchant (FCM) to join Eris Exchange, and offer execution and clearing of Eris Swap Futures.
Wedbush Futures, a division of Wedbush Securities Inc., is one of the largest capitalized non-bank FCMs in the United States, and has been a leading provider of clearing services for over 30 years. “Adding support for Eris Swap Futures was a natural step, as we strive to offer a full suite of services to our growing client base,” stated Bob Fitzsimmons, Managing Director, and Head of Futures. “Eris provides the market with easily accessible interest rate swaps in futures format, significantly broadening swap market access to new liquidity providers and commercial end users.”
“Successful organic growth of the Eris eco-system is contributing to acceleration in user interest for Eris Swap Futures by hedgers and institutional investors, as evidenced by our recent open interest record of more than 200,000 contracts,” said Geoff Sharp, Managing Director at Eris Exchange. “Adding Wedbush further bolsters Eris’ distribution, as their clients include new trading firms to provide liquidity in Eris Swap Futures, and new end users from their institutional client base.”
Neal Brady, CEO of Eris Exchange added, “Wedbush’s addition of Eris comes on the heels of FASB’s recent amendments to hedge accounting guidelines, and the Federal Reserve’s proposed capital treatment rule changes for OTC swaps, which should combine to make swap futures more attractive to implement. Eris is positioned as the optimal alternative to meet client hedging and trading needs, and Wedbush will help bring this opportunity to more users.”
To learn more about Eris Swap Futures and how they may be used as an investment instrument, or as an exposure hedging tool, contact your financial advisor or Eris Exchange at firstname.lastname@example.org.About Eris Exchange, LLC
Eris Media Contact:
# # #
Since our founding in 1955, Wedbush has been a leader in the financial industry providing our clients with a wide range of services; including institutional sales, correspondent clearing services, equity research, corporate and municipal finance, equity market making, fixed income trading, prime brokerage, and wealth management. Headquartered in Los Angeles, with nearly 100 registered offices, the firm focuses on dedicated service, client financial safety, continuity, and advanced technology. Wedbush Securities is the largest subsidiary of holding company WEDBUSH, Inc., which also includes affiliated firms.
Follow us on Twitter @Wedbush