American Financial Exchange? AMERIBOR? Benchmark Sets Monthly, Weekly and Daily Volume Records in March.

American Financial Exchange? AMERIBOR? Benchmark Sets Monthly, Weekly and Daily Volume Records in March, Surpassing Levels Established in December 2019; Q1 2020 Volume Outpaces 4Q 2019 Levels by 13.3 Percent

CHICAGO – April 1, 2020 —The American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, announced a monthly volume record of $55.829 billion during March, traded across all AFX products. This surpasses a previous monthly volume record of $46.695 billion set during the month of December 2019, marking a 19.6 percent increase.

In addition, cumulative first quarter 2020 volume levels at $140.443 billion surpassed a record reached in the fourth quarter 2019 when $123.952 billion traded, marking a 13.3 percent increase.

The exchange also announced a weekly volume record of $15.523 billion for the week of March 16 – 20, traded across all AFX products. This surpasses a previous weekly volume record of $13.017 billion set the week of September 16 – 20, 2019, marking a 19 percent increase from the previous record. The AMERIBOR Benchmark also set two daily volume records within the week, on March 16 and March 18, when more than $3.195 billion and $3.441 billion were traded, respectively.

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 $874 billion in value has been transacted and continues to rise. Average daily volume in March was $2.53 billion and continues to surpass previous levels.

“AMERIBOR has performed well during this time of crisis, more accurately reflecting the true cost of funding for a bank like Arvest than most other alternatives,” said Scott Phillips, Chief Investment Officer at Arvest Bank in Arkansas.

“We are pleased that our volume continues to grow, but more importantly, that we are able to be a source of liquidity in these turbulent times,” said Richard Sandor, AFX Chairman and CEO.

Currently the AFX has more than 185 members across the U.S. that includes 144 banks and 41 non - banks comprised of insurance companies, broker-dealers, private equity firms, hedge funds, futures commission merchants, and asset managers.

For more information about AFX or AMERIBOR, visit www.ameribor.net.

Contact: Laura LaBarbera, AFX (312) 554-4904.

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The American Financial Exchange (AFX) is self-regulated exchange founded in 2015. With more than 180 members across the 50 U.S. states, AFX seeks to offer a suite of innovative products to improve transparency and efficiency in the current interbank loans marketplace. AFX also facilitates the determination of a market-based interest rate benchmark called the American Interbank Offered Rate (AMERIBOR?). AMERIBOR? is an interest rate benchmark that reflects the actual unsecured borrowing costs of more than 1,100 American banks and financial institutions. In addition, AFX’s AMERIBOR is in alignment with all nineteen Principles set forth by the International Organization of Securities Commission (IOSCO) for Financial Benchmarks.

Contact: Laura LaBarbera [email protected] 312-554-4904 312-805-6569