Intercontinental Exchange (NYSE:ICE), a global provider of technology and data, acquired the American Financial Exchange (AFX), a Chicago, IL-based electronic exchange for direct lending and borrowing for American banks and financial institutions, from 7RIDGE.
The amount of the deal was not disclosed.
With the acquisition, ICE will expand its offerings.
The American Financial Exchange (AFX), launched in 2015, is a self-regulated exchange with over 240 bank and non-bank members across the United States. Many of its participants are the community and regional banks that power the American economy through their diversified lending portfolios. The company offers a suite of innovative products to improve transparency and efficiency in the interbank loans marketplace. It 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 1,000 American banks and financial institutions, that together represent 25% of the U.S. banking sector’s total assets.
Intercontinental Exchange is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. It provides financial technology and data services across major asset classes helping its customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges, including the New York Stock Exchange, and clearing houses help people invest, raise capital and manage risk.
VCWire
09/01/2025