Non-Deliverable Swaps Archives

Key Insights 24 Exchange has launched FX Non-Deliverable Swaps, expanding its institutional FX offerings with seamless access via its existing interface and Standard Chartered as the sole counterparty. The launch follows record NDF trading volumes, with the platform recently hitting $8.2 billion in daily volume, underscoring its growing relevance in global FX markets. HAMILTON, Bermuda, (MarketsXplora) – 24 Exchange, the Bermuda-based trading platform for over-the-counter financial products, has launched a new FX Non-Deliverable Swaps (NDS) product, expanding its foreign exchange offering for institutional clients amid rising demand for non-deliverable instruments. The new FX NDS product is now live and available for trading on 24 Exchange's global platform, providing access to major non-deliverable currency pairs. The product integrates seamlessly with the platform’s existing FX infrastructure and uses the same graphic user interface (GUI) and API, ensuring consistency and efficiency for users. Standard Chartered Bank serves as the exclusive counterparty for NDS trades, underlining the institutional-grade execution the platform aims to offer. “We’re excited to bring Non-Deliverable Swaps to our platform, leveraging the strong demand and engagement we’ve seen from our institutional users in the NDF space,” said Dmitri Galinov, Founder and CEO of 24 Exchange. “This launch reflects our continued focus on broadening access to innovative FX products through cost-efficient, technology-driven solutions that enable users to efficiently maximize liquidity.” The introduction of FX NDS builds on the company’s successful suite of currency products, including Non-Deliverable Forwards (NDFs), deliverable FX Swaps, and Spot trading. 24 Exchange's latest move follows a record-setting day last week, in which it processed $8.2 billion in total NDF trading volume—highlighting the platform’s growing relevance in global FX markets. The NDS product mirrors the trading workflow of NDFs already offered on the platform, allowing institutional clients to navigate complex currency markets with minimal friction. By leveraging existing protocols and infrastructure, 24 Exchange aims to keep costs low while providing consistent access to liquidity. Since its founding in 2019, 24 Exchange has positioned itself as a multi-asset platform focused on delivering institutional-grade trading via a single interface. The addition of NDS further broadens the platform’s FX capabilities, aimed at supporting a diverse and growing institutional user base. Looking beyond FX, 24 Exchange is preparing to launch the 24X National Exchange, a U.S.-regulated equities trading venue that will offer trading of U.S. securities for 23 hours each weekday. The new exchange, which received approval from the U.S. Securities and Exchange Commission, is scheduled to begin operations in the second half of 2025. “Traders are most at risk when the market is closed in their geographic location,” Galinov said. “24X National Exchange will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading for broker-dealers and their institutional and retail customers.” The exchange will initially operate from 4:00 a.m. to 7:00 p.m. ET each business day, enabling broader global access to U.S. equities through approved broker-dealers. Retail and institutional traders worldwide will be able to participate during extended trading hours, an offering the company says is unmatched by existing platforms. 24 Exchange’s mission, according to company statements, is to lower the cost of trading across asset classes while offering custom workflows and round-the-clock access. The company’s growing suite of offerings—including the latest NDS product and the upcoming U.S. stock exchange—represents a step forward in that strategy.

Non-Deliverable Swaps

24 Exchange Launches FX Non-Deliverable Swaps, Expands Institutional FX Offerings