All asset class network and High Precision Time™ for Interest Rate Swap Futures goes live
CHICAGO and NEW YORK, Aug. 21, 2014 /PRNewswire/ — Perseus Telecom, a leading provider of high-speed global connectivity, High Precision Time™ and Market-to-Market networks, announced today trading access and time verification is now available for Eris Exchange Swap Futures accessible at Equinix data centres in Chicago, London and Tokyo. Eris Exchange is a leading open access futures exchange for interest rate risk management, and offers forward starting and spot starting interest rate swap futures contracts. Eris Exchange provides the flexibility of over-the-counter interest rate swaps in a futures construct with the risk mitigation of CME Clearing. By using the Perseus Market-to-Market Network trading, participants will enjoy extremely fast, reliable and secure connectivity to the Eris SwapBook™ electronic trading platform.
"Perseus is pleased to be recognized as a global network provider for Eris Exchange and together, with High Precision Time™ for regulatory compliance makes our overall offering unique, coupling trading with risk control already tested and deployed." says Dr. Jock Percy, Chief Executive of Perseus Telecom. "We connect leading investment banks, hedge funds and market makers for the fastest, most secure execution and our global managed service infrastructure, with the US Government timescale, adds key security & audit practices for risk-management standards, all delivered on a simple cross connect."
"Eris Exchange has spent years enhancing the distribution of our benchmark swap futures offering and we are well positioned to grow with innovative technology companies such as Perseus," says Michael Riddle, Chief Operating Officer of Eris Exchange. "We foresee increasing volumes and aligning with a leading global network provider demonstrates our focus on accelerating market growth. Through the Perseus High Precision Time™ offering, Eris Exchange trading firms have immediate access to respond to their regulatory requirements while adding business value to our diversified market."
"Innovation between leading companies such as Perseus Telecom and Eris Exchange demonstrates how interconnection feeds growth in the evolving OTC and listed derivatives ecosystem inside Equinix," said Barry Smith, Managing Director, Global Capital Markets, Equinix. "Close proximity between firms allows for the rapid creation and deployment of new services which give financial firms new abilities to enhance their strategies, comply with new regulation and remove costs from trading."
OATS 7430 COMPLIANCE: Under US Law 15 USC 273, only the US Government's NIST Laboratories can issue Time for commercial synchronization & application-evidence purposes.
All computer system clocks and mechanical time-stamping devices must be synchronized to any source within one second of the National Institute of Standards and Technology (NIST) standard. All of your clocks and time-stamping devices must remain accurate within a one-second tolerance of the NIST clock, including the difference between the NIST standard and a time provider's clock; transmission delay from the source; and the amount of drift of your clock.
About Perseus
Perseus is a private global high precision network provider for financial trading, gaming, e-commerce and multi- media. Customers include top tier market makers, banks, exchanges and Fortune500 companies. The company is headquartered in New York with offices in Chicago, Dublin, London, Miami, Sao Paulo and San Francisco.
Perseus provides many of the world's fastest market-to-market routes (all asset class including Bitcoin) between Chicago, New York, London, Frankfurt, Sao Paulo, Mexico City, Tokyo, Singapore, Johannesburg. The company has earned accolades for the fastest trans-Atlantic route between New York and London (QuanTA™), the lowest latency route between Brazil and USA (LiquidPath®) and High Precision Time™. Perseus accepts Bitcoin for payment of services with GoCoin.
More Information: http://perseustelecom.com/contact/
Contact: Karen Bertoli, Chief Marketing Officer, Email +1 (305) 849-1429
About Eris Exchange
Eris Exchange is a futures exchange registered as a Designated Contract Market with the Commodity Futures Trading Commission. Eris Exchange lists cash-settled interest rate swap futures with current open interest exceeding 121,000 contracts. Eris Exchange contracts are cleared by clearing firms through CME Clearing, the global leader in derivatives clearing. Eris SwapBook™, Eris BlockBox™, and Eris Methodology™ are trademarks of Eris Exchange. For more information, visit Eris Exchange online at http://www.erisfutures.com or follow us on Twitter @erisfuturesFor additional information, please contact:
Media Contact – Eris Exchange
Christopher Rodriguez, (212) 561-5472 or Email
