ICE Acquires the American Financial Exchange (AFX)
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 […]
Whitepaper: SOFR Dynamics Are Not What You Wished
Marco Macchiavelli, Professor of FinanceUniversity of Massachusetts Amherst, Isenberg School of Management Executive Summary. Access the whitepaper here.
AFX Completes Migration of Trading Platform Technology with Transaction Network Services (TNS)
CHICAGO, November 20, 2024 – The American Financial Exchange (AFX), a self-regulated exchange that provides banks and financial institutions a marketplace for overnight unsecured interbank lending and borrowing, announced today that it has partnered with Transaction Network Services (TNS), a global leader in providing mission-critical infrastructure for financial markets. As a result of this partnership, […]
American Financial Exchange Partners with EXIM Bank to Better Serve America’s Community Banking Sector
CHICAGO, October 22 – The American Financial Exchange (AFX), a self-regulated exchange that provides banks and financial institutions a marketplace for overnight unsecured interbank lending and borrowing, announced today that it has partnered with the Export-Import Bank (EXIM), the official export credit agency of the United States. Together, the two organizations will support the underserved […]
Podcast: The Need for a Credit-Sensitive Reference Rate
AFX CEO John Shay was recently featured on the “At the Forefront: Fintech Conversations” podcast, where he was joined by Marco Macchiavelli, Assistant Professor of Finance at University of Massachusetts, Amherst for a discussion on benchmark interest rates in the overnight lending market. In the episode, Shay and Macchiavelli unpack the value of credit-sensitive rates […]
New Whitepaper Emphasizes the Benefits of Credit-Sensitive Rates
CHICAGO – September 10, 2024 – The American Financial Exchange (AFX), a self-regulated exchange that provides banks and financial institutions a marketplace for overnight unsecured interbank lending and borrowing, announced today that it has published new research in coordination with the University of Massachusetts Amherst’s Marco Macchiavelli, Assistant Professor of Finance with the Isenberg School […]
Whitepaper: AMERIBOR: A Better Credit Sensitive Reference Rate
Marco Macchiavelli, Professor of FinanceUniversity of Massachusetts Amherst, Isenberg School of Management Executive Summary. Access the whitepaper here.
A Rate for Main Street: Why Commercial Banks Urgently Need Credit-Sensitive Benchmark Interest Rates
It’s 2024. Do you know what your overnight borrowing costs are? For many regional and community banks, the answer is no – and poor regulatory guidance is a primary cause. After years of manipulation scandals, the LIBOR interest rate was thankfully officially discontinued on June 30, 2023. At last, financial institutions had an opportunity to […]
ANALYSIS: AFX sees August sell-off boosting credit sensitive rates
Post-Libor Transition, There Remain Refinements to Be Made and Risks to Be Aware of
In a report last November, the Alternative Reference Rates Committee declared success as it closed the book on supplanting the Libor benchmark in the U.S. with the Secured Overnight Financing Rate (SOFR). But it did not say that all work is complete. ARRC’s website remained open though deactivated, as the committee said that its closing report highlighted “key […]