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Vela adds Eris Exchange to DMA platform

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Vela, a provider of trading and market access technology, has expanded its Direct Market Access (DMA) platform market coverage to include trading connectivity access to Eris Swap Futures which are offered by the Eris Exchange (Eris) as an alternative to traditional over-the-counter (OTC) swaps. 

The addition of Eris to Vela’s fully-managed DMA platform is part of an ongoing program to provide clients with access to an ever-increasing number of global trading destinations in the Fixed Income markets. Eris is also available as a feed handler supported by Vela’s ticker plant, which provides normalised access to more than 200 venues across multiple regions and asset classes. Adding Eris to the DMA platform extends access across the Vela stack through its trading, data and risk APIs.
Gerry Turner (pictured), Global Head of DMA Platform at Vela, says: “We are very pleased to add Eris to our growing list of trading venues to meet client demands. Our DMA platform is a modular component of the Vela stack and allows our clients to connect to Eris, and other global futures exchanges, through a fully-provisioned market access solution to reduce the costs and complexity of accessing global liquidity. The addition of the Eris markets further supports our Fixed Income initiative to help clients increase opportunities across futures, swaps and treasury markets.”
“Vela’s decision to offer DMA access to Eris Swap Futures is a great development for the markets,” says Grant Oliver, Director of Business Development and Chief Operating Officer of FME, a London based trading company. “FME is a market maker for exchange traded products in the global Fixed Income markets, and we have long regarded swaps as our next frontier. With Vela’s DMA access to Eris, we are excited to be entering this market, bringing valuable liquidity to an important market which Eris makes easy to access and simple to trade.” 
Geoff Sharp, Managing Director and Head of Sales for Eris Exchange, says: “Enabling our users to connect to our exchange efficiently and cost effectively using Vela’s DMA platform is an important step in making Eris accessible to a wider user base.” He added, “Having an externally-supported and maintained DMA solution also allows us to focus on our product offering and client coverage.”

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