AFX announces one-day volume records on the AMERIBOR

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

AFX

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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.

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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 llabarbera@theafex.com


The American Financial Exchange (AFX) is self-regulated exchange founded in 2015.



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Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Prior to ValueWalk, Jacob was VP of Business Development at SumZero. Prior to SumZero, Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver