24 Exchange avg daily FX NDF trading volume hits record $1.49B in February
24-hour, multi-asset class trading platform 24 Exchange has announced that it has set a record for average daily FX NDF trading volume in February 2023. The company processed $1.49 billion in average daily FX NDF trading volume for its global institutional customers over the course of the month, and reached a daily record FX NDF trading volume of $1.89 billion.
24 Exchange CEO and Founder Dmitri Galinov, said:
“We are very pleased to see such a record-setting response to our FX NDF offering. Our platform is uniquely able bridge the bifurcated pool of liquidity in NDFs to unlock a single anonymous pool of liquidity for discerning institutional customers. Our growing company remains committed to providing an optimal customer experience on our platform across multiple asset class offerings.”
The 24 Exchange platform’s February 2023 average daily FX NDF trading volume was approximately 50% higher than the January 2023 ADV of $1 billion.
In addition to its FX NDF platform, the company offers Crypto Spot trading and Crypto NDFs (both meeting regulatory standards set by the Bermuda Monetary Authority), FX Swaps, and FX Spot. 24 Exchange said that it expects to expand on these offerings over the course of the year, further enhancing its unmatched customer experience and its ability to deliver institutional traders greater liquidity at lower costs.
About 24 Exchange
24 Exchange is a multi-asset class trading platform that allows market participants to seamlessly exchange their exposures at the lowest possible cost. 24 Exchange’s mission is to enable members to initiate the most cost-effective trades across a growing range of asset classes, 24 hours a day. The company lowers the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. 24 Exchange is operated by 24 Exchange Bermuda Limited and 24 Exchange Broker Limited which are regulated by the Bermuda Monetary Authority (BMA) for the purposes of conducting Digital Asset Business, pursuant to the Digital Asset Business Act.
