24 Exchange Posts Monthly Dip in May’s FX Demand
- The ADV for the month remained at $357 million.
24 Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, the over-the-counter (OTC) platform established by Fastmatch Founder, Dmitri Galinov, released its monthly trading statistics for May, showing a month-on-month decline in the FX NDF average daily volume (ADV).
Per the official numbers, the exchange recorded a single-counted ADV of $357 million for the month, which is a decline of 13.5 percent from the previous month’s $413 million.
Operated by 24 Exchange Bermuda Limited, the platform was established in 2019 after Galinov sold Fastmatch in 2017 for $153 million.
24 Exchange offers multi-asset class trading and is targeting clients with a promise of offering ‘most cost-effective trades across a growing range of asset classes, 24 hours a day’. Though the exchange is based in Bermuda, it is not regulated by the Bermuda Monetary Authority and is fully compliant with the FX Global Code.
Overall, the Market Is Bullish
The trading demand for the FX instruments on 24 Exchange is rising fast as the platform touched the ADV of $100 million last August and has shown an upward trend since.
The demand on the platform remained extremely bullish throughout the first quarter of 2021 and peaked in March with an ADV of $456 million. However, the second quarter started with a backfoot as the trading demand shows massive corrections for both April and May.
“We hope to improve overall Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in the NDF market, by decreasing friction costs,” Galinov told Finance Magnates in the initial days of the exchange.
In addition, the platform is focused on expanding its product range and launched an anonymous interbank FX Swaps order book with streaming quotes earlier this year. Furthermore, it attracted the attention of big banks as Standard Chartered bought an undisclosed stake in 24 Exchange as a part of its strategic investment.
24 Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, the over-the-counter (OTC) platform established by Fastmatch Founder, Dmitri Galinov, released its monthly trading statistics for May, showing a month-on-month decline in the FX NDF average daily volume (ADV).
Per the official numbers, the exchange recorded a single-counted ADV of $357 million for the month, which is a decline of 13.5 percent from the previous month’s $413 million.
Operated by 24 Exchange Bermuda Limited, the platform was established in 2019 after Galinov sold Fastmatch in 2017 for $153 million.
24 Exchange offers multi-asset class trading and is targeting clients with a promise of offering ‘most cost-effective trades across a growing range of asset classes, 24 hours a day’. Though the exchange is based in Bermuda, it is not regulated by the Bermuda Monetary Authority and is fully compliant with the FX Global Code.
Overall, the Market Is Bullish
The trading demand for the FX instruments on 24 Exchange is rising fast as the platform touched the ADV of $100 million last August and has shown an upward trend since.
The demand on the platform remained extremely bullish throughout the first quarter of 2021 and peaked in March with an ADV of $456 million. However, the second quarter started with a backfoot as the trading demand shows massive corrections for both April and May.
“We hope to improve overall Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in the NDF market, by decreasing friction costs,” Galinov told Finance Magnates in the initial days of the exchange.
In addition, the platform is focused on expanding its product range and launched an anonymous interbank FX Swaps order book with streaming quotes earlier this year. Furthermore, it attracted the attention of big banks as Standard Chartered bought an undisclosed stake in 24 Exchange as a part of its strategic investment.