24 Exchange Tops $100 Million Average Daily Volume in FX NDFs

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Aug 17, 2020, 08:00 ET

J.P. Morgan became active dealer on platform's first day of operation

HAMILTON, Bermuda, Aug. 17, 2020 /PRNewswire/ -- 24 Exchange, a multi-asset class, 24-hour trading platform, has reached an average daily volume of $100 Million in FX NDFs and become a must-access venue for the asset class. In addition, J.P. Morgan began actively trading FX NDFs on the 24 Exchange platform on Day 1 of operation in December of 2019 and remains one of the most active dealers on the platform.

Dmitri Galinov, CEO and founder of 24 Exchange, said, "In a very short period of time, 24 Exchange has topped $100 Million in Average Daily Volume, exceeding most competitors and establishing our platform as a must-access venue for FX NDFs. We are looking forward to working alongside J.P. Morgan to continue the growth and expansion of our robust trading platform."

Eddie Wen, Global Head of Digital Markets for J.P. Morgan, said, "There is growing demand for further electronification of the NDF markets. 24 Exchange reduces the client burden of technology infrastructure, allowing for more efficient access to electronic liquidity by market participants. The platform will offer greater choice of trading venues for our clients. J.P. Morgan believes that innovation and choice are fundamental to the long-term growth of electronic markets. We look forward to being part of the growth of this robust and important platform."

24 Exchange operates in full compliance with the principles of the FX Global Code.

About 24 Exchange

24 Exchange 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 across a growing range of asset classes, 24 hours a day. We lower the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. 24 Exchange is operated by 24 Exchange Bermuda Limited. The company is domiciled in Hamilton, Bermuda but is not regulated by the Bermuda Monetary Authority. More information is available at https://www.24exchange.net/.

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SOURCE 24 Exchange