Intercontinental Exchange, Inc. announced on January 8, 2025, that it has acquired 100% ownership of the American Financial Exchange (AFX) from 7RIDGE. AFX operates an electronic exchange for direct lending and borrowing among American banks and financial institutions.
This strategic acquisition strengthens ICE's market position, particularly as the financial industry transitions away from the LIBOR rate. AFX's AMERIBOR rate is positioned as an alternative benchmark for interbank lending.
The acquisition expands ICE's fixed income offerings and enhances its capabilities in providing critical financial benchmarks and data services. This move is expected to contribute to ICE's long-term growth in the fixed income and data services segment.
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