Eris Innovations is product development and IP licensing company, and the creator of Eris SOFR Swap futures, a better way to trade swaps. Contracts are CME Group listed futures contracts that mirror the cash flows and economics of a vanilla SOFR interest rate swap, and they are actively used by the mortgage industry to hedge the interest rate risk associated with lending. Contracts are available in tenors of 1-year to 30-years, with effective dates starting on quarterly IMM dates (3rd Wednesday in March, June, September and December) each year. Easy for anyone to access and trade, Eris SOFR will also save users 50-60% on initial margin than OTC swaps. Traded by voice or electronically on CME’s central electronic marketplace, Eris SOFR contracts are available through CME member futures brokers and do not require a swap clearing account.