The American Financial Exchange (AFX), electronic exchange for direct interbank lending and borrowing for American financial institutions, announced a record volume trading day on Monday, April 15. A record $2.522 billion were traded across all AFX products, surpassing the previous record of $2.354 billion traded on March 28, 2019. This marks a 7 percent increase from the previous record.
The AFX facilitates the determination of AMERIBOR, a transaction-based interest rate benchmark for regional, community and mid-sized banks via its electronic trading platform. Since the start of the AFX and the AMERIBOR benchmark, more than $385 billion in value has been transacted and continues to rise. Average daily volume in March was $1.45 billion and continues to surpass previous levels on a regular basis.
“We are thrilled that our volume continues to shatter records,” Dr. Richard L. Sandor, Chairman and CEO of AFX said. “By using the AMERIBOR benchmark to price their loans, banks are able to more efficiently serve their customers.”
Currently the AFX has 141 members across the U.S. that includes banks, broker-dealers, private equity firms, business development corporations, hedge funds, futures commission merchants, insurance companies, asset managers and finance companies. For more information about AFX or AMERIBOR, visit www.theafex.com and www.ameribor.net.
