Intercontinental Exchange completed the acquisition of American Financial Exchange from 7RIDGE.

Intercontinental Exchange, a global provider of technology and data, completed the acquisition of American Financial Exchange, an electronic exchange for direct lending and borrowing for American banks and financial institutions, from 7RIDGE, a private equity firm. Financial terms were not disclosed. “AFX becoming part of ICE marks an extraordinary opportunity for AFX and we are confident that ICE’s leadership will amplify AFX’s success and its purpose to serve regional and local American banks by creating a transparent, robust and efficient interbank lending ecosystem,” Carsten Kengeter, 7RIDGE CEO.