Intercontinental Exchange Buys AFX to Strengthen Index Business

Intercontinental Exchange, Inc. (ICE) has acquired American Financial Exchange ("AFX") from 7RIDGE. The addition of AFX to its portfolio will help the acquirer serve customers through the mortgage technology network with new and innovative product offerings. AFX is an electronic exchange for direct lending and borrowing for American banks and financial institutions. It serves regional, midsize, community and minority-owned banks. Christopher Edmonds, president of ICE Fixed Income and Data Services, consider ...