The company will launch FX Swap and FX Spot products January 2021
Hamilton, Bermuda, November 16, 2020 / PRNewswire / – 24Exchange, a multi-asset class, 24-hour trading platform, has surpassed average daily volume (ADV) $ 250 million In FX NDF in October. The company’s transaction volume reached more than one day’s record $ 400 million, While ADV levels $ 250 million Continued in November. In August, 24 Exchange announced that it had reached the average daily volume $ 100 million.
The company also announced today that it will launch FX Swap Trading and FX Spot Trading in January of 2021. These two additional FX products will provide the same word-class liquidity and cost efficiencies as FX NDF of 24 Exchange.
“The average daily volume has more than doubled since mid-summer,” said 24 Exchange CEO and founder Dmitry Galinov, further enhancing our position as a strong and reliable liquidity pool in the FX NDF market. With the arrival of our two new offerings, FX Swap and FX Spot Trading, the 24 exchange platform will become even more valuable to our trading clients worldwide. We are thankful that our customers are ‘keen like mustard’ on the ship and are expanding their relationship with 24 Exchange. ”
The FX Swap product will be the first streaming swap available in the market, creating a unique next generation platform. The company’s low-cost FX spot trading product will go to six decimal places, an innovation on the five decimal places currently offered by competitors.
Jason woerz, President of 24 Exchange, said, “Our accelerated growth is a clear demonstration of our platform’s strong relationship with a growing number of institutional investors that we are proud to call clients.” Adding relevant value-added products to our offering range will further the overall growth of the 24 Exchange in the market. “
The 24 Exchange operates in full compliance with the principles of the FX Global Code.
Around 24 exchanges
24Exchange is a multi-asset class trading platform that allows market participants to exchange their exposures at the lowest possible cost. Our mission is to enable our members to initiate the most cost-effective trades in a growing range of asset classes 24 hours a day. We reduce the cost of asset exchange in global markets by delivering creative and unique workflows tailored to each asset class. 24 Exchange 24 Exchange is operated by Bermuda Limited. Is domiciled in company Hamilton, Bermuda But Bermuda is not regulated by the Monetary Authority. More information is available at https://www.24exchange.net/.
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Phone: + 1-212-333-0275
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