24 Exchange reports daily and weekly records in FX NDF trade volume
24-hour, multi-asset class trading platform 24 Exchange has announced that it reached a record daily FX NDF trade volume of $1.476 billion on October 21, and a record weekly FX NDF trade volume of $1.175 billion from October 17-21, 2022. The company said that these record-breaking FX NDFs trade volumes are a further indication of the 24 Exchange platform’s growth and the market’s embrace of the company’s product offerings.
24 Exchange provides its clients with customized solutions that offer increased profitability through its variety of trading workflows. Beyond FX NDFs, the company also offers Crypto Spot trading, Crypto NDFs, FX Swaps, and FX Spot – each provides institutional market clients with a robust and reliable platform for trading at the lowest cost.
Jason Woerz, President of 24 Exchange, said:
“The recent growth of our NDF platform is a testament to our unwavering attention to providing our clients with the best possible trading experience and platform. At 24 Exchange, our highest priority is understanding and meeting the needs of our institutional clients who are seeking access to optimal liquidity through our expanding range of trading workflows. We continue to tailor our set of offerings to create a one-of-a-kind trading experience with unparalleled market access and lower costs.”
During three of the last six weeks, average weekly FX NDF trading volume on the 24 Exchange platform surpassed $1 billion.
The company added that it expects to see continued growth not only in its FX NDF trading volumes, but in other assets as well, as it fosters relationships with a growing network of FX, cryptocurrency, and NDF stakeholders and platforms.
Just last week, 24 Exchange announced its partnership with the Talos Partner Network, providing clients with access to new liquidity in cryptocurrency spot trading.
24 Exchange is a multi-asset class trading platform that allows market participants to seamlessly exchange their exposures at the lowest possible cost. The company’s mission is to enable members to initiate the most cost-effective trades across a growing range of asset classes, 24 hours a day. 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. The company was founded by former FastMatch CEO Dmitri Galinov, and last year raised $14 million in capital led by Steve Cohen’s Point72 Ventures.