Exchange Notification – December 21, 2023
December 21, 2023 Dear Members: As you know, AFX reserves the right to change our benchmarks from time to time at our discretion. As a result of our new leadership’s ongoing review of our Benchmarks and in response to changing market factors, management has decided to discontinue the following set of credit sensitive rate data […]
Industry Veteran Kevin Wolf Joins American Financial Exchange as Chief Financial Officer
CHICAGO, IL, October 23, 2023 – The American Financial Exchange (AFX), a self-regulated exchange that provides banks and financial institutions a marketplace for overnight unsecured interbank lending and borrowing, today announced that Kevin Wolf, an industry veteran with over 20 years of capital markets experience, has joined the company as its new Chief Financial Officer […]
AFX Marketplace Announces Extended Trading Hours
We are pleased to announce that as of September 11, 2023, the AFX Marketplace will extend its trading hours to run from 6 am CT to 5 pm CT. The additional hour is intended to better serve Marketplace participants from coast to coast by enhancing liquidity and providing more opportunity within the market. Since our founding, […]
AFX IOSCO Holding Statement
On July 3, 2023, the Madrid, Spain based Board of the International Organization of Securities Commissions (IOSCO) announced the results of its Review of Alternatives to USD LIBOR. In its review of two credit-sensitive rates (CSRs) —one of which was AMERIBOR—and two Term SOFR rates, IOSCO determined (based on administrator’s self-assessments) that all four rates […]
American Financial Exchange Appoints Veteran Financial Services Executive John Shay as CEO
American Financial Exchange Appoints Veteran Financial Services Executive John Shay as CEO Chicago – May 2, 2023 – The American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, today announced that the exchange has appointed veteran financial services executive John Shay as CEO, effective immediately. AFX […]
American Financial Exchange Acquired by 7RIDGE
Transaction builds on AFX structure to expand and enhance AMERIBOR® adoption Chicago – April 18, 2023 – The American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, today announced that 100% of the company was acquired by 7RIDGE, a specialized growth equity firm invested in transformative […]
American Financial Exchange’s Statement on Silicon Valley Bank and Signature Bank – Despite Market Turbulence, Exchange Performed Flawlessly
American Financial Exchange’s Statement on Silicon Valley Bank and Signature Bank – Despite Market Turbulence, Exchange Performed Flawlessly March 14, 2023 —The American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, extends its sympathy to the employees, customers and stockholders of Silicon Valley Bank (SVB) and […]