24 Exchange Announces Record Daily FX NDF Volume: Over $4 Billion in Two Consecutive Days

Multi-asset class trading platform 24 Exchange announced back-to-back daily records for foreign exchange non-deliverable forward (FX NDF) trading volume. The company handled an impressive two consecutive days of FX NDF trades totaling more than $4 billion for its global institutional clients last week. This milestone surpasses the daily volume record of $3.1 billion set by 24 Exchange last October.

Dmitri Galinov, the CEO and Founder of 24 Exchange, stated: "Setting consecutive daily volume records for FX NDF trading is an exciting way to usher in the new year. The continuing growth in FX NDF trading volume exemplifies the value our clients achieve by using our innovative and efficient platform. In the months ahead, we look forward to helping greater numbers of clients access increased liquidity at the lowest cost on the 24 Exchange platform."

24 Exchange also offers cryptocurrency NDFs, complying with the regulatory standards set by the Bermuda Monetary Authority (BMA). The platform has expanded its services to include FX Swaps and FX Spot and is working to expand the range of offerings, creating more avenues for institutional traders to access more liquidity at a lower cost.

As reported earlier, in February 2023, 24 Exchange's daily average FX NDF volume for global institutional clients reached $1.49 billion, a 50% increase from the previous month. In addition, the platform set a record for a single day's trading volume of $1.9 billion. Galinov attributes the industry's positive response to the platform's unique ability to unify liquidity pools in NDFs.

(Source: Finance Magnates)