24 Exchange Sees Record FX NDF Trade Volume for February 2023

24 Exchange released its financial results for February 2023, reporting anther single-day record forex non-deliverable forwards (NDFs) trading volume of $1.89 billion.

The average daily volumes (ADV) of forex NDFs for the month came in at $1.49 billion, a new record since October 2022($1.476 billion) and an increase of approximately 50% compared to $1 billion in January 2023.

"We are very pleased to see such a record-setting response to our FX NDF offering. Our platform is uniquely able to bridge the bifurcated pool of liquidity in NDFs to unlock a single anonymous pool of liquidity for discerning institutional customers," said Dmitri Galinov, 24 Exchange CEO and Founder. "Our growing company remains committed to providing an optimal customer experience on our platform across multiple asset class offerings."

Last February, the platform completed its first cryptocurrency NDF trades on its platform involving ED&F Man Capital Markets, XBTO and QCP, pioneering a leading institutional market for trading crypto NDFs and Spot crypto assets.