AFX Forms Partnership with Citi Bank
(03 December 2020 – United States) The American Financial Exchange (AFX) has recently onboarded Citi Bank to its electronic marketplace where United States’ (US) banks can lend and borrow short-term funds interchangeably.
AFX’s operates as a self-regulated exchange and was founded in December 2015. It currently connects over 200 banks and financial institutions across the US onto a single financial exchange platform. It provides innovative products to improve transparency and efficiency in the interbank loan marketplace.
The exchange also facilitates the determination of a market-based interest rate benchmark, commonly known as the American Interbank Offered Rate (AMERIBOR).
“An institution such as Citi engaging with AFX and its support for AMERIBOR sends a strong message to the marketplace that AMERIBOR is here to serve an important role in the development of robust benchmark alternatives” commented AFX Chairman, Richard L. Sandor.
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