American Financial Exchange? Announces One-Day Volume Records on the AMERIBOR? Benchmark of $3B and AMERIBOR? Futures

CHICAGO – September 20, 2019 —The American Financial Exchange (AFX), electronic exchange for direct interbank lending and borrowing for American financial institutions, announced a record volume trading day on Thursday, September 19, marking the second day this week a new high mark has been set. A record $3.035 billion were traded across all AFX products, surpassing the previous single-day volume record of $2.637 billion on September 17, 2019. This marks a 15 percent increase from the previous record.

In addition, the AMERIBOR three-month and 7-day futures contracts reached a daily volume record on Thursday, when 325 contracts were executed. 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 $500 billion in value has been transacted.

“As volatility continues in the overnight lending markets, banks and corporations understand they can use the AMERIBOR Benchmark to lock in a rate with low volatility,” said Dr. Richard L. Sandor, Chairman and CEO of AFX. “It’s clear that using the AMERIBOR Benchmark helps banks serve their customers more efficiently.”

Currently the AFX has 161 members across the U.S., which includes 132 banks and approximately 1000 correspondent banks. In addition, membership includes 29 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.

Contact: Laura LaBarbera, AFX (312) 554-4904 or [email protected]

The American Financial Exchange (AFX) is self-regulated exchange founded in 2015. With more than 150 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?). 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.