.jpg)
The American Financial Exchange (AFX), electronic exchange for direct interbank lending and borrowing for American financial institutions, announced record volume trading on Friday, November 19 in the AMERIBOR futures complex. A record 1,027 contracts were traded, which represents more than $12.3 billion in notional value. Additionally, open interest reached a record high of 1,017 contracts across all products.
The AFX facilitates the determination of AMERIBOR, a transaction-based interest rate benchmark for banks via its electronic trading platform. Since the start of the AFX and the AMERIBOR benchmark, approximately $1.5 trillion in AMERIBOR loans have been executed in the cash market.
Currently AFX membership across the U.S. includes 184 banks, and more than 1,000 correspondents, with combined assets of more than $5.8 trillion. There are 45 non-banks that include insurance companies, broker-dealers, private equity firms, hedge funds, futures commission merchants, and asset managers.
For more information about AFX or AMERIBOR, visit www.ameribor.net.
