The Venture Codex

Participated · Equity · Mar 2023

Eris Innovations created Eris SOFR Swap futures, a listed futures product designed to provide a capital-efficient way to access swap spread risk. The company plans to launch Eris Options in June, a standardized, exchange-traded product intended to deliver swaption-like exposure with futures-style margining. Eris SOFR activity has accelerated: open interest rose from 237,000 contracts in January 2025 to 713,000 in April 2026, market participants more than doubled over the same period, and average daily volume exceeded 22,000 contracts in Q1 2026 with a monthly record of 44,863 in March. Market participants have used Eris SOFR to achieve initial margin savings of more than 60% compared with traditional OTC swaps, and the company positions Eris Options to extend those capital and operational advantages. Eris Innovations licenses its patented Eris Methodology to partner exchanges and emphasizes building deep, transparent markets through alignment with experienced liquidity providers.