American Financial Exchange announces daily, weekly, monthly record transaction volumes

The American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American financial institutions, announced daily, weekly and monthly record transaction volumes. The exchange had a record day of $1.089 billion on Monday, July 30; $4.983 billion for the week of July 30; and $16.439 billion for the month of July. The volumes are outstanding across all its products. AFX facilitates the determination of Ameribor®, a transaction-based interest rate benchmark for financial institutions via its electronic trading platform. AFX has transacted more than $180 billion cumulative since it opened in December 2015. 

Since AFX's premiere, exchange membership has grown from 6 to 96 Members. AFX membership as of July 30, 2018, was 82 banks and 14 non-banks representing over $1.25 trillion in assets. AFX has a presence in 49 states, District of Columbia and Puerto Rico. AFX has extended its membership beyond banks to also include broker-dealers, private equity firms, business development corporations (BDCs), hedge funds, futures commission merchants (FCMs), insurance companies, asset managers and finance companies. 

Current active AFX markets are overnight unsecured loans, 7-day secured loans, a deposit product, and a correspondent loan market. 

AFX publishes its Ameribor rate on the website Ameribor was originally designed to reflect the borrowing costs of U.S. small- and mid-sized banks but it is now also expanding into larger banks and non-bank financial institutions. The rate is calculated using a 30-day rolling average of the weighted average daily volume in the AFX overnight unsecured market. The rate is denoted as a 360-day annualized percentage rate up to the fifth decimal. 

AFX is a self-regulated exchange that provides a transparent, centralized and rules-based electronic marketplace for direct lending and borrowing for American financial institutions. AFX will also facilitate the determination of a market-based interest rate benchmark for US financial institutions called Ameribor®. For additional information on AFX and Ameribor, visit here

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