Sapient Global Markets to Provide Faster Time to Market and Assist Regulatory Compliance for Eris Ex
Sapient Global Markets to Provide Faster Time to Market and Assist Regulatory Compliance for Eris Exchange Customers
Sapient Global Markets Receives Eris Exchange Implementation Certification
BOSTON--(BUSINESS WIRE)-- Sapient Global Markets has today announced its certification under the Eris Certified Implementation Partner Program. With firms looking for new ways to bring OTC products to market in response to regulatory mandates including Dodd-Frank, Sapient Global Markets will utilize its deep derivative industry expertise to help market participants quickly and efficiently convert existing and new OTC interest rate swap products to the clearinghouse model.
Under the agreement, Sapient Global Markets will provide client training, program management and technology expertise including integration of clearing and trading systems as well as support for other technology solutions, to help firms take advantage of the Eris Exchange Interest Rate Swap Futures market. Eris Exchange, a U.S. based futures exchange, embeds the cash flows of OTC interest rate swaps into a capital-efficient futures product cleared by CME Clearing and settled to the CME OTC IRS swap curve. It allows contracts to be traded as though in an OTC environment while integrating into existing futures clearing and back-office systems, assisting with regulatory compliance and enabling faster time to market.
Neal Brady, CEO of Eris Exchange, said, "Eris Exchange brings safety, transparency and liquidity to the interest rate swaps marketplace by operationalizing and simplifying the new regulations around OTC swap and derivative clearing. Sapient Global Markets' domain and technology expertise makes it highly qualified to help sell-side banks and trading firms take full advantage of the transparency and capital efficiency of Eris Exchange products."
"Our unique understanding of derivative clearing environments, changing regulations and the Eris Exchange product gives us the ability to ensure firms' clearing strategies are efficient, transparent and compliant under new laws slated to become effective March 11, 2013," says Jim Bennett, managing director at Sapient Global Markets. "Sapient Global Markets is distinctively positioned to help Eris Exchange clients develop and implement their business and technology strategies to achieve faster time to market and reduce the risk and complexity of ongoing regulatory and market change."
About Eris Exchange:
Eris Exchange is a futures exchange (Designated Contract Market) regulated by the CFTC. Its U.S. Dollar-denominated Eris Exchange Interest Rate Swap Futures contract clears at CME Clearing, embeds the cash flows of an OTC interest rate swap, and provides significant capital savings to clients through portfolio margining with CME Eurodollars and Treasury futures positions. For more information, visit www.erisfutures.com.
About Sapient Global Markets:
Sapient Global Markets, a division of Sapient® (NAS: SAPE) , is a leading provider of services to today's evolving financial and commodity markets. We provide a full range of capabilities to help our clients grow and enhance their businesses, create robust and transparent infrastructure, manage operating costs, and foster innovation throughout their organizations. We offer services across Advisory, Analytics, Technology, and Process, as well as unique methodologies in program management, technology development, and process outsourcing. Sapient Global Markets operates in key financial and commodity centers worldwide, including Boston, Chicago, Houston, New York, Calgary, Toronto, London, Amsterdam, Düsseldorf, Geneva, Munich, Zurich, and Singapore, as well as in large technology development and operations outsourcing centers in Bangalore, Delhi, and Noida, India. For more information, visit www.sapientglobalmarkets.com.
Sapient is a registered service mark of Sapient Corporation.
Sapient Global Markets
Clare Anderson, +44 20 7953 3516
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