04.16.2021

AFX’s AMERIBOR Term-30 Complies With IOSCO Principles

American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, announced that the AFX’s AMERIBOR® Term-30 — the AFX forward-looking term rate — has been independently reviewed as of April 15, 2021 and has been affirmed to comply with all nineteen (19) principles set forth by the International Organization of Securities Commission (IOSCO) for Financial Benchmarks.

“In addition to the AFX Benchmark, our AMERIBOR® Term-30 forward looking rate has been affirmed to comply with IOSCO’s nineteen principles for financial benchmarks marking another major milestone for AMERIBOR®,” said AFX Chairman and CEO Richard Sandor.

“This affirmation enables a broader range of American banks and financial institutions to feel confident that a transparent, market-based solution is available. And as the use of AMERIBOR® reference benchmark interest rate for variable rate corporate debt, bonds and interest rate derivatives such as swaps, continues to grow, the introduction and approval of AMERIBOR® Term-30 is vital.

Source: AFX

Related articles

  1. Electronification of the municipal bond market also presents a large opportunity.

  2. Aberdeen AM Looks to Grow In China

    The success of Northbound trading showed electronic execution is way forward for the bond market.

  3. Margins Raised Ahead of Brexit Vote

    IRS trading volumes have fragmented without an equivalence agreement.

  4. Increased electronification has created useable and accessible real-time and historic trade data.

  5. Members are evaluating payment-versus-payment for currencies not yet eligible for CLSSettlement.