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 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.

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 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.

Source: Finance Magnates