24 Exchange Hits Record $7.5 Billion in Daily NDF Trading Volume

24 Exchange reported a record daily volume of $7.5 billion in foreign exchange non-deliverable forward (NDF) trades on April 11, the platform’s highest single-day total since launch.

The Bermuda-based trading venue said the milestone reflects growing institutional demand for its FX services.

24 Exchange CEO and Founder Dmitri Galinov told FinanceFeeds that “institutional traders are increasingly seeking a platform that offers both reliability and efficiency, which is the core mission of 24 Exchange.”

“We’re proud to be at the forefront of this evolution and look forward to helping clients achieve the liquidity they need whenever they need it,” he added.

Founded in 2019, 24 Exchange provides a range of services to institutional clients, including NDFs, swaps, and spot FX trading, via a single interface. The company is an affiliate of 24X National Exchange.

Dmitri Galinov’s brainchild operates a multi-asset class platform that combines both cryptocurrency and FX trading in a single technology.

24 Exchange claims to offer institutional market participants a more cost-effective way to trade FX NDFs through eliminating market data fees. Ultimately, it plans to provide end-to-end processing, and workflow services across over-the-counter derivatives asset classes.

Earlier this month, 24 Exchange said it now offers live FX swaps trading, powered by CobaltFX’s Dynamic Credit process. The partnership introduces a new method of managing credit for counterparties that reduces operational complexity and unlocks greater trading flexibility.

The Dynamic Credit process adjusts credit usage in real time, allowing market participants to make use of available credit more efficiently. 24 Exchange now enables clients to access deeper liquidity and execute larger transactions without the traditional pre-funding requirements that often limit trade volume.

24 Exchange integrated CobaltFX’s solution to automate credit line distribution and eliminate static carve-outs between counterparties. The model replaces manual intervention with automated credit checks, providing a scalable route to higher trade volumes and broader market access.