CME Group Announces Launch of Options on Eris SOFR Swap Futures

International derivatives marketplace CME Group announced it will launch options on Eris SOFR Swap futures on June 16, 2026, pending regulatory review. The new options are designed to provide clients with additional flexibility in managing U.S. dollar interest rate risk.

Agha Mirza, CME Group Global Head of Rates and OTC Products, stated the options will complement the existing interest rate product suite, offering liquidity, transparency, and margin efficiencies. Michael Riddle, CEO of Eris Innovations, noted the product will help institutional investors manage risk with greater precision amid shifting rate expectations.

Don Wilson, CEO of DRW and co-inventor of the Eris technology, highlighted that the product combines OTC market precision with futures efficiency. Jeff Bauman of R.J. O'Brien & Associates cited strong client demand for listed options on SOFR swap rates to manage portfolio convexity.

Since their launch in October 2020, over 10 million Eris SOFR Swap futures contracts have traded at CME Group. A record open interest of 707,000 contracts was set in March 2026.

The new options on 2-year, 5-year, and 10-year tenors will support advanced hedging strategies, including managing non-linear risk in mortgage-backed portfolios. They will be eligible for margin offsets with other cleared interest rate products and listed under CBOT rules.