Live streaming prices for swap futures traded on Eris Exchange, the US derivatives exchange, are now available via Neo, UBS’s cross-asset platform for accessing agency execution services.
Under the new arrangement, the broker’s buy-side clients can also trade Eris swap futures via UBS’s execution services desk, including central limit order book trades in Eris SwapBook, block trades, and packaged trades such as swap spreads, asset swaps, curve trades and baskets of swap futures.
In February, Eris announced that UBS Securities had completed the first execution of a standard swap future on the exchange acting for a buy-side client. The futures exchange reported that open interest in US$ interest rate swap futures surpassed US$10 billion in notional value on 21 February.
“We are excited to partner with Eris to further provide our clients with a best-in-class offering and help them seamlessly navigate the evolving interest rate trading market,” said Paul Hamill, global head of FX, rates and credit execution services at UBS.
“We are please to have Eris markets distributed through the UBS Neo client platform allowing buy-side clients to observe the exchange’s deep order books and tight bid-ask spreads,” said Neal Brady, CEO of Eris Exchange.
Swap futures are being offered by US derivatives exchanges as a lower-cost alternative to trading cleared swaps on swap execution facilities.