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About Eris Innovations TM 

Eris Innovations is an intellectual property licensing company that partners with CME Group, ICE and other global exchanges to develop futures and options products based on its patented product design, the Eris Methodology.

In addition to partnering with global exchanges and offering tools to promote Eris Swap Futures, we are focused on the development of new products utilizing the Eris Methodology for replicating OTC cash flows in listed derivatives.

History

Following the global financial crisis, end-user access to traditional swap markets became limited with the increase in cost for bespoke OTC products under mandatory clearing and new bank capital rules.

Originally launched as an independent exchange in 2011, Eris introduced an innovative contract design to replicate the exact cash flows and much of the same yield curve granularity as OTC swaps, while also incorporating the operational benefits and cost efficiencies of listed, exchange-traded instruments.

Over the years, Eris has become the leading swap futures complex and we have entered into strategic licensing partnerships with the world largest global exchange groups to offer our proven contract design to the widest possible user audience. In December 2018, our flagship US dollar rate futures moved to CME Group, expanding the network of user access, and improving liquidity and distribution for Eris products.

Eris Today

While there remains some need for customized structures better suited to OTC transactions, the vast majority of trading and hedging is simply a transfer of wholesale risk benchmark rates and credit exposure. Eris offers an efficient format that is easily accessible to all end users.

Today, Eris Innovations comprises a portfolio of intellectual property and services based on our award winning Eris Methodology® for replicating the convexity and cash flows of OTC swaps in a listed futures format. Through our exchange partners, we now offer interest rate swap futures in USD, EUR, GBP, and ZAR, as well as credit index futures in USD.

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Our Team

Michael Riddle
Michael Riddle
CEO

Michael Riddle has been Chief Executive Officer of Eris Innovations since the flagship USD swap futures migrated to CME in 2018, after serving as Chief Operating Officer of Eris Exchange since shortly after it was founded. Previously, Michael was the Director of Alliance Management at CME Group, where he was responsible for the growth of the CME's international partnerships in Brazil, Dubai, Korea and Mexico. Prior to CME Group, Mr. Riddle held trading technology-related positions at Chicago Board of Trade and in the Capital Markets consulting practice for Cap Gemini Ernst & Young. Mr. Riddle holds a B.A. in Economics from Northwestern University and an M.B.A. from the Kellogg School of Management.

Geoffrey Sharp
Geoffrey Sharp
Managing Director

Geoffrey Sharp joined Eris in 2015, with over 2 decades of global capital markets experience. In previous roles he was a Managing Director of Interest Rate Sales at Nomura Securities International during their US expansion and previously held senior-level derivatives sales and trading roles at Lehman Brothers in Tokyo and New York. Mr. Sharp holds a B.Eng. from The University of Bristol, England.

Timothy Stack
Managing Director

Timothy Stack was Managing Director and Head of Agency Derivative Services at Barclays Bank, where he was responsible for the global futures, OTC clearing and FX prime brokerage businesses. Mr. Stack also served as a board member of the Futures Industry Association. Mr. Stack holds a B.Econ. from University of Sydney, Australia.

Laurence Brazeau
Director, Operations and Technology

Laurence Brazeau runs the day-to-day operations at Eris Innovations, having joined the Eris team in June 2019. His primary responsibilities include overseeing the daily settlement process for Eris Swap Futures and managing client service inquiries from market participants. Prior to joining Eris, Mr. Brazeau was on the DevOps team at Trading Technologies covering production operations for the TT Platform.

Greg Carter
Senior Analyst

Greg Carter is the Senior Analyst at Eris Innovations. He holds a MSF from Illinois Institute of Technology specializing in High Frequency Finance and Financial Programming. Prior to joining Eris Innovations, Greg was an independent derivatives trader since 2014.

Eris in the News

NEWSLETTER: Record SOFR OIS 1-3Y Volume in February
SOFR OIS volume grew 67% in February to new high, led by the 1-3Y sector
05 March 2021
NEWSLETTER: Eris SOFR 15% of 1-3y SOFR Swap Volume
Volume Growth
18 February 2021
PRESS RELEASE: Eris Innovations Closes Strategic Investment Round Tied to Eris SOFR Product Launch at CME Group
Eris SOFR Swap Futures show strong early volume as firms prepare to migrate from Libor to SOFR
16 November 2020
View all news

Contact us with immediate questions:

1-646-961-4489
questions@erisfutures.com (responses within 60 minutes during U.S. business hours)
Chicago

625 W. Adams, Suite 19-105

Chicago, IL 60661

           

             

 

 

 

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