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 (TNS), a global leader in providing mission-critical infrastructure for financial markets.

As a result of this partnership, TNS will provide full management and hosting services for AFX鈥檚 data center to support its marketplace and membership community consisting of more than 250 banks and financial institutions across the US.

鈥淏y partnering with TNS, AFX gains more flexibility and independence, enabling us to provide increased optionality and better serve America鈥檚 community and regional banks,鈥 said AFX CEO John Shay. 鈥淲ith the support of TNS, 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.鈥

Shay added: 鈥淎s 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.鈥

Tom Lazenga, General Manager of TNS鈥 Financial Markets business stated: 鈥淲e are proud to partner with AFX, an organization aligned with TNS鈥 commitment to providing fast and resilient solutions to the financial industry worldwide. We鈥檙e excited about the work we can do together.鈥

In addition to the new TNS 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鈥痶he network surveillance oversight.