Record Eris Open Interest Tops 330,000, Up 31% In Q3
Date 06/10/2021
CME Eris Swap Futures achieved record open interest of 331,445 on Oct 5, continuing the upward trend from the record-setting 31% growth in Q3
During Q3, open interest grew by more than 77,000 contracts, from 251,833 to 328,957
Notably, OI in the Eris Libor 5-year tenor grew 98% to 81,495 contracts, driven by interest rate hedging from end users
Total OI increased 77% in the past year, including multiple OI records set in Q3 for Eris SOFR and legacy Eris Libor Swap Futures
By year end, CME is expected to announce its protocol for converting legacy Eris Libor positions to Eris SOFR Swap Futures positions upon the cessation of 3-month USD Libor in June 2023
