24 Exchange Sets Daily Record with $7.5B in FX Non-Deliverable Forward Trades

A recent spike in market activity has helped 24 Exchange cross a milestone in the currency derivatives market. On April 11, the trading venue processed $7.5 billion in non-deliverable forward (NDF) trades, marking its highest single-day volume to date.

According to the company, this surge reflects growing institutional interest in alternative FX platforms, especially as global markets navigate increased volatility from macroeconomic policy shifts and geopolitical uncertainty.

Heightened Client Engagement

The Bermuda-based over-the-counter trading platform attributed its record-breaking day to heightened client engagement and the efficiency of its trading infrastructure.

24 Exchange offers FX NDFs, spot trades, and swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term through a unified interface designed for institutional users. Since launching in 2019, the platform has aimed to reduce costs and streamline trade execution across asset classes.

“This new record is a testament to the strength of our platform and the trust our global institutional users place in us,” commented 24 Exchange CEO and Founder Dmitri Galinov. “The rapidly rising volume of daily trades reflects the premier value our platform provides for our users to maximize liquidity efficiently. We look forward to increasing these numbers as 24 Exchange continues to innovate in the months ahead.”

By aggregating multiple asset types under one trading roof, 24 Exchange has positioned itself as a cost-conscious alternative in a market long dominated by larger incumbents.

The broader context also plays a role. Recent moves such as proposed U.S. tariffs and shifting rate expectations have injected new volatility into currency markets. Platforms catering to institutional strategies, such as 24 Exchange, have seen increased demand as a result.

Volatility in the Currency Markets

24 Exchange’s daily FX NDF volume spike aligns with a broader trend of record-setting performance among electronic trading platforms this year, many of which have benefited from renewed institutional hedging and arbitrage Arbitrage Arbitrage is defined as the practice of taking advantage of a price difference between two or more markets.In particular, this involves the simultaneous buying and selling of securities, currencies, cryptos, or commodities in different markets. Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge over time.In order for arbitrage to occur, there must be a uniform set of conditions that need to be met. For example, the same asset does not t Arbitrage is defined as the practice of taking advantage of a price difference between two or more markets.In particular, this involves the simultaneous buying and selling of securities, currencies, cryptos, or commodities in different markets. Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge over time.In order for arbitrage to occur, there must be a uniform set of conditions that need to be met. For example, the same asset does not t Read this Term activity.

With its recent performance, 24 Exchange aims to continue building on its momentum. The company signaled plans to innovate further and expand its market footprint, although it did not specify upcoming developments. As volatility and demand for NDFs persist, competition among trading venues is expected to intensify.