24X Hits $9 Billion Daily FX NDF Trading Record
Event summary
- $9 billion in FX NDF trades processed on January 26, a new daily record for 24X.
- CEO Dmitri Galinov cites growing institutional adoption of the platform's liquidity offerings.
- 24X offers additional products including Deliverable Swaps, Non-Deliverable Swaps, and Spot trading.
- Company launched in 2019 with a mission to enable cost-effective trades across multiple asset classes.
The big picture
24X's record daily trading volume underscores the shift toward electronic trading platforms in the FX market. The company's ability to offer seamless, cost-effective currency exchanges around the clock positions it as a disruptor in an industry traditionally dominated by legacy players. Its SEC-approved extended trading hours for equities further solidify its competitive edge.
What we're watching
- Platform Expansion
- How the rollout of new products and enhancements will impact trading activity.
- Market Share Shift
- Whether 24X can sustain its growth momentum against traditional FX platforms.
- Regulatory Compliance
- The pace at which regulatory approvals for extended trading hours will affect operations.
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