RBS Securities has become a futures commission merchant (FCM) member of US-based swap futures trading venue Eris Exchange.
The deal will enable RBS clients to gain access to Eris SwapBook, an electronic central limit order book, to trade interest rate swap futures and to access clearing services.
Commenting on the addition of RBS as an FCM, Neal Brady, chief executive officer of Eris Exchange, said: "Today's announcement further reinforces the efficiency of the futures clearing model and demonstrates the important role that swap futures play in the evolving structure of the derivatives markets."
RBS said it wanted to offer its clients margin and operational efficiencies available through use of swap futures.
Through our relationship with Eris Exchange, our clients will benefit from the ability to access liquidity for their interest rate hedging needs, along with top-of-the-line portfolio margining and offsets against other positions held at CME Clearing," added RBS global head of prime services, Jeff Howard.