Mets owner Steve Cohen invests $14M in 24 Exchange via Point72 Ventures
The investment will support 24 Exchange’s expansion to encompass additional asset classes, including equities and crypto.
The investment will support 24 Exchange’s expansion to encompass additional asset classes, including equities and crypto.
FairXchange’s Horizon will analyse all relevant transaction and pricing data across the 24 Exchange platform.
24X National Exchange would enable trades in U.S. equities with a minimum increment of one one-thousandth of a share.
11B has been providing low latency software and connectivity solutions for 24 Exchange in FX Swaps and FX Spot.
24 Exchange said that it expects to launch physical cryptocurrency trading to its institutional clients later this summer.
Michael Serpa had been with Edgewater for the past six years, acting as the institutional broker’s Global Head of Liquidity.
Cristian Arellano, based in New York, has worked in brokerage and trading for nearly 20 years at firms including ICAP and BGC Partners.
24 Exchange also announced that it set a new monthly record NDF ADV (single-counted) in March of $456 million.
24 Exchange said that it will begin publishing to its website monthly figures for FX NDF trading volume on the company’s platform.
24 Exchange said that its FX Spot trading product goes to six decimal places, an innovation over the five decimal places elsewhere.