IPC Systems, Inc’s Connexus Financial Extranet service will now support U.S.-based, Eris Exchange. IPC’s (News - Alert) existing community of capital market participants will now be offered dependable and safe connectivity to Eris Exchange through Connexus. Connexus can be therefore used beneficially by market participants to trade cleared interest rate derivatives.
In a release, Christopher Rodriguez, Chief Sales and Corporate Development Officer at Eris Exchange, said, "We are delighted that IPC is providing connectivity to a diverse pool of market participants seeking direct access to the Eris SwapBook electronic trading platform. In a fluid and demanding trading environment, IPC is well positioned to provide professionally managed connectivity that is an essential component of the overall trading experience."
Forward starting and spot starting interest rate swap futures contracts are offered by the premier, open access futures exchange for interest rate risk management, Eris Exchange. Participants are provided cleared swap futures by Eris Exchange, which offers flexible over-the-counter interest rate swaps and decreased risk of CME Clearing. Market participants will now be offered flexible, dependable and safe connectivity to the Eris SwapBook electronic trading platform through IPC’s Connexus.
A community of market participants in the OTC derivatives market, including broker-dealers, inter-dealer brokers, derivative execution venues and major institutional investors is being developed by IPC. IPC boasts of the IPC Financial Markets Network service portfolio, which includes Connexus, private extranet and Direct Connect data services, and Trader and Enhanced voice communications services.
Joe Pickel, vice president of Network Services Product Management at IPC, said, "We welcome Eris Exchange to our global community of capital market participants. As electronic trading in interest rate and credit default swaps continues to flourish having venues such as Eris Exchange as a destination on Connexus provides traders with the flexibility required to trade rapidly growing asset classes."
Financial centers across the world are interconnected by IPC's Financial Markets Network, which is accessible in over 4,000 market participant locations in more than 700 cities in almost 60 countries. The extremely scalable and safe Connexus, which has been developed on an IP/MPLS backbone, is compatible with different industry standards and trading protocols.
Edited by Brooke Neuman