Eris Exchange to Offer Rate-Swap Future With Margin to Match CME
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Eris Exchange LLC plans to lower margin requirements on new interest-rate swap futures to match similar contracts CME Group Inc. started offering this week.
The Chicago-based exchange will give users margin savings of 40 percent to 80 percent as of Dec. 10 on standardized contracts that have quarterly effective dates, the company said in an e-mailed statement. CME Group, the world’s largest futures market, offers rate-swap futures that require two-day margin coverage compared with the five days it mandates for a cleared rate swap.