24 Exchange Launches Trading of FX Non-Deliverable Swaps

Bermuda-based 24X Bermuda Limited has launched trading of foreign exchange non-deliverable swaps (NDS), expanding its suite of FX products available on its platform.

The FX NDS product is now available for trading across major non-deliverable currency pairs, with Standard Chartered Bank serving as the single counterparty. The service is accessible through the 24 Exchange platform's graphical user interface and via the same API as other FX products offered by the company.

The introduction of NDS trading follows the same streaming functionality and workflow that 24 Exchange provides for its existing FX Non-Deliverable Forwards (NDFs) trading service. This consistency allows financial institutions to access enhanced liquidity whilst maintaining familiar operational procedures.

"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 Dmitri Galinov, CEO and Founder of 24 Exchange. "This launch reflects our continued focus on broadening access to innovative FX products through cost-efficient, technology-driven solutions that enable users to efficiently maximise liquidity."

The launch comes after 24 Exchange set a new single-day trading volume record of $8.2 billion in total NDF trading last week, highlighting the platform's expanding presence in global FX markets.

Since its launch in 2019, 24 Exchange has positioned itself as a multi-asset platform offering increased liquidity at reduced costs through a single trading interface. In addition to NDS, the platform provides NDF, deliverable FX Swaps, and Spot trading services to institutional clients.

Beyond its FX offerings, 24 Exchange is developing 24X National Exchange, which has received approval from the U.S. Securities and Exchange Commission to become the first stock exchange offering trading of U.S. securities for 23 hours each weekday. The new exchange will enable retail and institutional customers worldwide to trade U.S. equities through approved broker-dealer members.

The initial stage of 24X National Exchange is expected to launch in the second half of 2025, with trading hours from 4:00 AM ET to 7:00 PM ET on weekdays.