Sell-Side Clients Equipped to Add Capital-Efficient Eris Swap Futures to Their Fixed Income Portfolios
Eris Exchange (Eris), the U.S.-based futures exchange offering cash-settled swap futures as the leading alternative to traditional OTC swaps, announced that Bloomberg Trade Order Management Solutions (TOMS) now supports Eris Standard Swap Futures. Bloomberg TOMS provides capabilities to efficiently manage inventory, risk and P&L for fixed income instruments including swaps and futures.
Sell-side users, specifically regional banks interested in low margin OTC swap alternatives such as Eris, can manage their diverse positions from pre-trade through post-trade natively with Bloomberg TOMS. Sell-side users of Bloomberg TOMS can take advantage of the optimized workflow including Bloomberg compliance tools, market data, execution and third-party downstream systems that incorporate Eris Swap Futures with a wide array of fixed income products already offered. Broad distribution of Bloomberg TOMS opens up Eris trading and hedging opportunities to hundreds of new counterparties.
“Duncan Williams has hedged positions using interest rate swaps, futures and swap futures over the years and simply put, Eris is a marked improvement and the wave of the future,” said Adam Tooley, SVP, Taxable Trading of Duncan Williams. “Eris represents a diverse pool of easily accessible LIBOR swap liquidity, and with Bloomberg TOMS supporting Eris, we now have another tool to seamlessly hedge with precision in a capital-efficient manner.”
“The addition of Eris Standard Swap Futures is a natural evolution for Bloomberg TOMS. This initiative is part of our continuous efforts to add value to our clients by supporting new products on our system,” said Robert Friend, Global Head of Sell-side solutions and Research at Bloomberg.
“We cover numerous regional banks and dealers who rely on Bloomberg TOMS to manage their fixed income and hedging inventory,” said John Coleman, Senior Vice President and Director of the R.J. O’Brien & Associates Fixed Income Group. “This new Bloomberg TOMS functionality opens up Eris markets to hundreds of new users including dozens of RJO clients interested in using Eris who can now unlock real savings over traditional cleared OTC swap margins.”