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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, October 21 in the AMERIBOR futures complex. A record 665 contracts were traded across both the three-month and seven-day futures contracts, which is equal to $6.02 billion in notional value. This surpasses the record set on Monday, September 30 when 585 contracts were traded.
AMERIBOR futures were launched on August 16, 2019.
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, more than $650 billion in value has been transacted in the cash market.
“We are pleased with the continued volume growth of the AMERIBOR futures complex,” said Dr. Richard
L. Sandor, Chairman and CEO of AFX. “We recognize that building liquidity in new markets is a long-term endeavor.”
Currently the AFX has 168 members across the U.S., which includes 133 banks and approximately 1000 correspondent banks. In addition, membership includes 35 non-banks, which is comprised of 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.ameribor.net.
