CHICAGO--(BUSINESS WIRE)--May 19, 2026--
Eris Innovations, an intellectual property licensing company and the creator of Eris SOFR Swap futures (Eris SOFR), today announced a new investment round backed by leading trading firms, following a marked rise in Eris SOFR activity at CME Group.
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Eris Innovations completed the investment round to support the launch of Eris Options in June, as well as the continued growth of the Eris SOFR complex, providing capital and strategic alignment with core liquidity providers. Participants include proprietary trading firms and their affiliates such as DRW, DV Trading, BlackEdge Capital, Arb Trading Group, Chicago Trading Company, and TransMarket Group, with DV Trading leading the round. CME Ventures also participated in the transaction.
Recent activity in Eris SOFR reflects accelerating institutional adoption:
Eris Options are designed to deliver swaption-like risk exposure in a standardized, exchange-traded format. The product extends the capital efficiency and operational advantages of Eris SOFR into the options market, offering market participants a new way to manage longer-dated SOFR rate risk.
“The rapid adoption of Eris SOFR demonstrates strong demand for liquid, capital-efficient, listed alternatives to OTC interest rate products,” said Michael Riddle, Chief Executive Officer of Eris Innovations. “This round aligns us with experienced liquidity providers critical to establishing deep, transparent markets for Eris Options.”
“Eris SOFR Swap futures unlocked a more efficient way to access swap spread risk, combining the precision of OTC markets with the efficiency of listed derivatives,” said Don Wilson, CEO of DRW and co-inventor of the technology behind Eris Innovations. “The introduction of options extends that framework by offering more efficient ways of managing swap spread risk in the volatility space.”
“Buy-side hedgers and fund managers are savvier than ever these days, constantly evaluating how to deploy their capital most efficiently to reach their investment objectives, lest they fall behind their competitors,” said Jared Vegosen, Co-Founder of DV Trading. “Having provided liquid markets in Eris SOFR since inception, we are focused on bringing the same depth, consistency, and pricing discipline to Eris Options at launch.”
“SOFR underlies the vast majority of U.S. dollar floating-rate financing, and there is clear demand for more efficient tools to manage volatility in longer-dated exposures,” said Josh Mateffy, Founder and Managing Partner of BlackEdge Capital. “As a leading market maker in CME Group’s interest rate options for more than a decade, BlackEdge is well positioned to help build deep, consistent markets for Eris Options.”
Eris Options will complement CME Group’s existing U.S. Treasury and SOFR complexes. Eris Options feature futures-style margining, similar to forward-premium OTC swaptions, and remove operational burdens associated with swap data repository (SDR) reporting, uncleared margin rules (UMR), and manual trade confirmations.
About Eris Innovations
Eris Innovations is an intellectual property licensing company that partners with global financial exchanges to develop futures products based on its patented product design, the Eris Methodology. Trademarks of Eris Innovations and/or its affiliates include Eris, Eris Innovations, Eris SOFR, Eris Options, and Eris Methodology. For more information on Eris Options, visit erisfutures.com/options.
Eris SOFR Swap Futures Open Interest Triples Ahead of June Eris Options Launch, New Funding Round
WESTBROOK, Maine--(BUSINESS WIRE)--May 19, 2026--
IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, today announced that SDMA, a renal biomarker, will be built into Catalyst™ CLIPs, making complete kidney function evaluation part of the most common point-of-care chemistry profiles. Available beginning in June to customers in the United States and Canada, the integration expands access to advanced kidney assessment at scale, enabling veterinarians to identify kidney function loss earlier and act sooner, without disrupting familiar workflows.
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Supported by peer-reviewed studies using the IDEXX SDMA™ Test, SDMA is recognized by the International Renal Interest Society (IRIS) as a key biomarker for evaluating kidney function in pets. 1 Since introducing the IDEXX SDMA™ Test in 2015, IDEXX has performed approximately 119 million SDMA patient tests globally primarily through its reference laboratories and increasingly on the Catalyst platform, 2 underscoring the test’s clinical importance and broad adoption in kidney health evaluation. Results are seamlessly integrated into VetConnect™ PLUS, alongside other diagnostic data.
“SDMA is a clear example of how IDEXX innovates by developing clinically relevant diagnostics and then scaling their impact through platforms veterinarians already use every day,” said Mike Erickson, President and CEO of IDEXX. “Earlier insight enables earlier action, improving outcomes for pets, strengthening care experiences, and supporting durable, long-term growth for veterinary practices and IDEXX.”
Chronic kidney disease (CKD) is common in dogs and cats and frequently unrecognized, particularly early in the disease. Clinical evidence continues to show that including SDMA in routine diagnostic testing enables earlier detection of meaningful declines in kidney function that conventional markers alone may miss. 3–6 In addition, a study, published in the Journal of the American Veterinary Medical Association, found that cats with early-stage CKD treated with a renal diet experienced slower disease progression and improved survival. 7
“Kidney disease is common in both cats and dogs, so early evaluation is important,” said Dr. Christine Kirnos, VMD, The Cat Hospital of Media.* “Making SDMA easier to incorporate into routine in-clinic chemistry testing helps us assess kidney health more consistently and provides meaningful insight during the patient visit.”
For more information, please visit the Catalyst testing web page.
*Dr. Kirnos has received compensation for consulting services she has provided to IDEXX.
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About IDEXX
IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help ensure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500™ Index. Headquartered in Maine, IDEXX employs approximately 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit: www.idexx.com.
Note Regarding Forward-Looking Statements
This news release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “expects,” “may,” “anticipates,” “intends,” “would,” “will,” “plans,” “believes,” “estimates,” “should,” “project,” and similar words and expressions. These forward-looking statements are intended to provide our current expectations or forecasts of future events; are based on current estimates, projections, beliefs, and assumptions; and are not guarantees of future performance. Actual events or results may differ materially from those described in the forward-looking statements. These statements are subject to risks, uncertainties, assumptions, and other important factors. Readers are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by IDEXX pursuant to United States securities laws contain discussions of some of these risks and uncertainties. IDEXX assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are advised to review IDEXX’s filings with the United States Securities and Exchange Commission (which are available from the SEC’s EDGAR database at sec.gov and via IDEXX’s website at idexx.com).
Catalyst SDMA Testing
