24X Bermuda Limited (“24 Exchange”) today announced the launch of FX Non-Deliverable Swaps (NDS) trading, expanding the company's range of FX offerings on its robust global platform. The FX NDS product is now live and available for trading across major non-deliverable currency pairs, providing financial institutions with enhanced liquidity at the cost-effective pricing levels 24 Exchange is known for.
The new FX NDS product mirrors the streaming functionality and workflow that 24 Exchange currently provides for FX Non-Deliverable Forwards (NDFs) trading. NDS trading features Standard Chartered Bank as the single counterparty, and is accessible via the 24 Exchange platform's user-friendly and efficient graphic user interface (GUI). Importantly, the FX NDS product is available over the same API as other FX products ensuring efficient and easy access.
“We're excited to bring Non-Deliverable Swaps to our platform, leveraging the strong demand and engagement we've seen from our institutional users in the NDF space,” said 24 Exchange CEO and FounderDmitri Galinov. “This launch reflects our continued focus on broadening access to innovative FX products through cost-efficient, technology-driven solutions that enable users to efficiently maximize liquidity.”
This expansion comes on the heels of another single day trading volume record set by the 24 Exchange platform last week of $8.2 billion in total NDF trading – underscoring the platform's growing role in global FX markets.
In addition to NDS, 24 Exchange also offers NDF, deliverable FX Swaps, and Spot trading to institutional users. Since its launch in 2019, 24 Exchange's multi-asset offering through a single trading interface has enabled market participants to access increased liquidity at lower cost.
24 Exchange is developing 24X National Exchange, the first stock exchange to receive approval from the U.S. Securities and Exchange Commission to offer trading of U.S. securities 23 hours each workday. 24X National Exchange will enable retail and institutional customers anywhere in the world to trade in U.S. equities via broker-dealers who are approved members.This new exchange expects to launch its initial stage in the second half of 2025, with trading from4:00AM ET to 7:00PM ETon weekdays.
About 24 Exchange24 Exchange 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. 24 Exchange lowers the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. More information is available athttps://24exchange.com/.
Media Contact:Eric Andrus, KARV24Xmedia@karv.global
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SOURCE 24 Exchange
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