Dear Members, Clients, and Partners of the American Financial Exchange (AFX),
Since 2015, AFX has been proud to partner with America’s regional and local banks, helping you source liquidity and providing price transparency in the interbank loan market. Over the years, we have consistently delivered daily liquidity in an operationally efficient and easy-to-use platform. Your loyalty and participation have been instrumental to our success, and we deeply value your trust in us.
AFX reached a significant milestone with our acquisition by 7RIDGE, a transition that enabled us to accelerate the growth of our platform, focus on bolstering liquidity, and reinforce the value of our AMERIBOR® overnight index — the only credit-sensitive interest rate calculated exclusively using observable interbank unsecured lending executed on a transparent platform. Together, we enhanced the services we provide to you, our valued members and partners, and deepened our commitment to delivering a transparent and robust marketplace.
Today, we are thrilled to announce the next chapter in AFX’s journey. 7RIDGE has agreed to sell AFX, in its entirety, to ICE, an American multinational financial services company at the forefront of innovation and transformation in markets, products, and processes. All full-time staff at AFX will transfer immediately to ICE to ensure seamless continuity and maintain the high-quality services you’ve come to expect. ICE recognizes the immense potential of AFX’s platform and shares our commitment to enhancing the interbank lending ecosystem for regional and local banks across the nation.
This transition does not bring any near-term changes to your trading or market data services. All phone numbers and emails will remain unchanged until further notice, ensuring you can continue to reach us as always.
“As part of 7RIDGE’s strategy to enhance the financial services and markets infrastructure and ecosystem in order to contribute to a more stable economy, we are proud of the remarkable progress AFX has made since its acquisition by 7RIDGE which has prepared AFX to reach new heights under ICE’s ownership. We are confident that ICE’s leadership will amplify AFX’s success and further its impact on the interbank lending ecosystem.” Says Carsten Kengeter, CEO of 7RIDGE.
John C. Shay, CEO at AFX, said: “We are deeply excited about this next phase in AFX’s evolution. ICE shares our mission to serve regional and local banks by creating a transparent, robust, and efficient interbank loan market. This acquisition will unlock new opportunities for our members, enabling AFX to continue innovating and supporting the needs of this vital sector.”
“AFX is a natural fit to ICE with many of AFX’s customers already customers of ICE,” said Christopher Edmonds, President of ICE Fixed Income and Data Services. “We will be working hard to ensure the move to ICE is as seamless a transition as possible and we look forward to continuing the important evolutionary efforts of AFX in serving the interbank market.”
We at AFX are thrilled with this outcome and are deeply grateful for your continued support and loyalty. Your partnership has been critical to our success, and we look forward to building an even stronger future with ICE at the helm.
Please don’t hesitate to reach out with any questions. You can connect with our customer support team or contact Varun Pawar directly at Varun.Pawar@ice.com.
Thank you once again, and wishing you a successful and prosperous 2025!