FX NDFs trading

Singapore CFDs broker Phillip Nova deploys Integral across NDFs and FX swaps

The news comes amid what Phillip Nova described as surging demand for NDFs among traders in the Asia-Pacific region.

24 Exchange, an affiliate of 24X National Exchange, also offers Swaps and Spot trading to institutional users in addition to NDFs.

24 Exchange’s non-U.S. users are now able to both trade and immediately clear trades with LCH ForexClear.

Initially targeting Asia Pacific, the launch supports growing regional demand for FX NDF trading and access to deeper institutional liquidity.

This milestone surpasses 24X’s previous daily volume record of $3.1 billion set last October at 24 Exchange.

The launch of NDFs will allow LMAX clients to hedge their FX exposure against non-convertible currencies on a Central Limit Order Book.

24 Exchange processed more than $3.1B in FX NDFs for its global institutional customers on a single trading day last week.

The 24 Exchange platform’s February 2023 average daily FX NDF trading volume was 50% higher than the January 2023 ADV of $1 billion.