The American Financial Exchange (AFX), a self-regulated exchange that provides banks and financial institutions a marketplace for overnight unsecured interbank lending and borrowing, announced today that it has partnered with Transaction Network Services (ĢƵ), a global leader in providing mission-critical infrastructure for financial markets.
As a result of this partnership, ĢƵ will provide full management and hosting services for AFX’s data center to support its marketplace and membership community consisting of more than 250 banks and financial institutions across the US.
“By partnering with ĢƵ, AFX gains more flexibility and independence, enabling us to provide increased optionality and better serve America’s community and regional banks,” said AFX CEO John Shay. “With the support of ĢƵ, we remain steadfast in providing our member banks and financial institutions with the marketplace they deserve for their overnight unsecured interbank lending and borrowing needs.”
Shay added: “As we continue to grow and look to raise more capital in the months ahead, having good, reliable partners in place to be part of our offering is a key factor in our success.”
Tom Lazenga, General Manager of ĢƵ’ Financial Markets business stated: “We are proud to partner with AFX, an organization aligned with ĢƵ’ commitment to providing fast and resilient solutions to the financial industry worldwide. We’re excited about the work we can do together.”
In addition to the new ĢƵ relationship, AFX has strong existing partnerships in place with Connamara Systems for the software development, Morningstar as Benchmark rate verification agenda and RSM for the development of the network surveillance oversight.