Risk 25 firms of the future: Eris Exchange

The future of swaps?

Neal Brady
Neal Brady, Eris Exchange

If over-the-counter interest rate swaps didn’t exist, and a product was invented today to do the same job – knowing what the market knows about the Dodd-Frank Act and Basel III – it might look a lot like the Eris Exchange swap futures contract.

As a future, it’s subject to lighter margin requirements – clearing houses can calculate initial margin requirements over a one-day period for futures rather than the five or seven days used for OTC trades – and can be netted with existing futures

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