CME Group, the world’s leading derivatives marketplace, announced it will launch options on Eris SOFR Swap futures on June 16, 2026, pending regulatory review.

“Our new options on Eris SOFR Swap futures will provide clients with additional flexibility in managing U.S. dollar interest rate risk,” said Agha Mirza, CME Group Global Head of Rates and OTC Products. “Eris SOFR Swap options will complement our existing interest rate product suite, which delivers deep liquidity, price transparency and unmatched margin efficiencies to global market participants.”

“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. “By mirroring the structure of forward-premium OTC swaptions, Eris SOFR Swap options can deliver cost optimization, margin efficiencies and trading simplicity amid shifting economic conditions.”

“From the beginning, the goal of Eris was to rethink how swap spread risk could be accessed, combining the precision of OTC markets with the efficiency of futures,” said Don Wilson, CEO of DRW and co-inventor of the technology behind Eris Innovations. “Because of these unique design characteristics, the product has obtained significant adoption by a wide range of market participants. CME Group’s addition of options will enable more sophisticated risk management strategies while preserving the capital and liquidity advantages that have driven the impressive growth of Eris SOFR Swap futures.”

“Our client base is primarily hedgers managing complex interest rate exposure, and we’ve seen strong demand for listed options on SOFR swap rates,” said Jeff Bauman, Senior Vice President of Fixed Income at R.J. O’Brien & Associates. “Eris SOFR Swap options will enable clients to better manage the convexity of their portfolios, while providing a flexible, capital-efficient extension of risk management solutions at CME Group.”

CME Group is the world’s leading interest rate market, offering futures and options for a broad range of benchmark products, including U.S. Treasuries, SOFR, Fed Funds, TBAs, credit and more. Its U.S. Treasury and SOFR contracts trade side-by-side on the CME Globex platform with BrokerTec cash securities.

Since launching in October 2020, more than 10 million Eris SOFR Swap futures contracts have traded at CME Group. 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.

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.

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 information is available at cmegroup.com/eris-options.

Source: CME