just now
February 3, 2021 - 24 Exchange, a multi-asset class, 24-hour trading platform that launched in December 2019 by Dmitry Galinov, the founder and ex-CEO of Fastmatch, announced today that it reached a record Average Daily Volume (ADV) of $300 million in FX NDFs during the first month of 2021. The company set this ADV record after seeing sequential trading activity growth for each month of last year. Additionally, 24 Exchange set a new single-day record volume in FX NDFs of $450 million in January.
24 Exchange also announced that it will begin publishing to its website monthly figures for FX NDF trading volume on the company's platform. 24 Exchange also noted that it operates in full compliance with the principles of the FX Global Code.
Dmitri Galinov, CEO and Founder of 24 Exchange, said, "We are pleased to kick off 2021 by establishing a new monthly ADV record. In building successful client relationships and providing customers with the tools, services, and expertise they need, we expect our growth will continue to build throughout 2021 as it did over the past year."
24 Exchange's FX Spot product launched last month and according to the company the product, "has generated increasing trading activity and customer enthusiasm."
Jason Woerz, President of 24 Exchange, added, "24 Exchange is dedicated to implementing customer feedback in order to keep meeting and surpassing their evolving needs. This hands-on approach to customised solutions helps attract increasing numbers of clients, resulting in the considerable ADV growth we are seeing across our platform."
Dmitry Galinov added, "We are dedicated to providing an optimal customer service experience for both buyers and sellers, while offering customised pricing technology and liquidity pools that are tailored to individual client needs. Going forward, we expect to see continued ADV increases sustained by our robust platform, attractive pricing, liquidity pool offerings and unmatched customer experience model".
In March 2020, 24 Exchange announced a strategic investment from Standard Chartered, although the size of the investment was undisclosed.
