The new options on Eris SOFR Swap futures will offer clients more flexibility in managing U.S. dollar interest rate risk.
CME Group is slated to launch options on Eris SOFR Swap futures on June 16, 2026, pending regulatory review, as a way to help clients better manage U.S. dollar interest rate risk, officials say.
Agha Mirza
“Our new options on Eris SOFR Swap futures will provide clients with additional flexibility in managing U.S. dollar interest rate risk,” says Agha Mirza, group global head of rates and OTC products for the CME Group, in a prepared statement. “Eris SOFR Swap options will complement our existing interest rate product suite.”
The Eris SOFR Swap futures “replicate interest rate swap cash flows, offering the standardization and capital savings of exchange-traded instruments. The addition of options on 2-year, 5-year, and 10-year Eris SOFR Swap futures will support more sophisticated hedging strategies, such as managing non-linear risk in mortgage-backed portfolios,” officials say. “Eris SOFR Swap options will be eligible for margin offsets with other cleared interest rate futures and options at CME Group. The products will be listed by, and subject to, the rules of CBOT.”
More than 10 million Eris SOFR Swap futures contracts have traded via CME Group since the contract type launched in October 2020. “In March 2026, Eris SOFR Swap futures reached an all-time open interest record of 707,000 contracts ($71B notional), including a single-day volume record of 299,513 contracts on March 10,” according to CME Group.
“Eris SOFR Swap options will help institutional investors manage risk with greater precision as they navigate varying expectations on the direction of U.S. interest rates,” said Michael Riddle, CEO of Eris Innovations.
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