Bloomberg Launches SOFR Swap Futures Indices, Expanding Futures-Based Benchmarks
Event summary
- Bloomberg launched 11 new Eris SOFR Swap Futures Tracker Indices on February 18, 2026, marking its first futures-based indices referencing SOFR swap exposure.
- The indices track performance of holding and rolling Eris SOFR Swap futures across 11 tenors from 1-year to 30-year maturities.
- Eris SOFR Swap Futures open interest more than doubled in 2025, signaling growing market adoption.
- Indices are rules-based, centrally cleared, and reflect publicly observable pricing for transparent benchmarking.
The big picture
Bloomberg's launch of SOFR Swap Futures Tracker Indices reflects the broader industry shift toward transparent, exchange-listed tools for interest rate exposure. As market participants increasingly embrace centrally cleared futures over OTC swaps, these indices provide a standardized framework for benchmarking and analyzing SOFR curve dynamics. The move underscores Bloomberg's strategy to expand its fixed income futures-based index offerings, capturing evolving market needs for structured products and relative value monitoring.
What we're watching
- Market Adoption
- How the pace of adoption of Eris SOFR Swap Futures will impact the relevance of these indices as benchmarking tools.
- Competitive Dynamics
- Whether Bloomberg can sustain its leadership in futures-based indices amid growing competition in the derivatives space.
- Regulatory Influence
- The extent to which regulatory shifts in interest rate derivatives will affect the utility and structure of these indices.
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