The average daily volume (ADV) of forex non-deliverable forwards (NDFs)
traded on 24 Exchange in January 2023 hit over $1 billion in January, Dmitri
Galinov, the CEO of the Bermuda-based multi-asset
Multi-Asset
Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically
Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically
Read this Term trading platform
disclosed on Thursday.
24 Exchange hit the new milestone three months after the trading platform,
which was launched in 2019, reported daily and weekly records in its forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Read this Term NDFs. In
October, the volume of daily forex NDFs traded on 24 Exchange reached a record
$1.476 billion on the 21st of the month. The platform also posted a record
weekly FX NDF trade volume of $1.175 billion between October 17-21, 2022.
Furthermore, the industry starter disclosed that average weekly FX NDFs
trading volume on its platform surpassed $1 billion during three of the last
six weeks at the time. However, January 2022 comes with a new record with daily
average alone reaching over $1 billion.
Jason Woerz, the President of 24 Exchange, previously noted that the
trading platform was deepening its relationship with a growing network of
forex, cryptocurrency and NDF stakeholders and platforms.
Over the last months, 24 Exchange has been taking steps to establish its
presence in the industry. In March last year, the startup secured $7 million to
expand its offering including onboarding cryptocurrency and equity products for institutional investors. The capital served an addition to the $14 million it raised in an earlier round
led by Point72 Ventures.
Already, 24 Exchange has made efforts towards its expansion towards
cryptocurrency. Days after raising new capital in March, the trading platform
provider finalized its first crypto NDF trades in a milestone event
that enjoyed the participation of ED&F Man Capital Markets, XBTO and QCP.
Earlier in February, 24 Exchange obtained a license to kick off its
cryptocurrency spot trading activities in Bermuda.
In 2021, the trading platform expanded into interbank forex swaps and launched its
first trade with Standard Chartered Bank, its central counterparty
partner.
The average daily volume (ADV) of forex non-deliverable forwards (NDFs)
traded on 24 Exchange in January 2023 hit over $1 billion in January, Dmitri
Galinov, the CEO of the Bermuda-based multi-asset
Multi-Asset
Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically
Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically
Read this Term trading platform
disclosed on Thursday.
24 Exchange hit the new milestone three months after the trading platform,
which was launched in 2019, reported daily and weekly records in its forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Read this Term NDFs. In
October, the volume of daily forex NDFs traded on 24 Exchange reached a record
$1.476 billion on the 21st of the month. The platform also posted a record
weekly FX NDF trade volume of $1.175 billion between October 17-21, 2022.
Furthermore, the industry starter disclosed that average weekly FX NDFs
trading volume on its platform surpassed $1 billion during three of the last
six weeks at the time. However, January 2022 comes with a new record with daily
average alone reaching over $1 billion.
Jason Woerz, the President of 24 Exchange, previously noted that the
trading platform was deepening its relationship with a growing network of
forex, cryptocurrency and NDF stakeholders and platforms.
Over the last months, 24 Exchange has been taking steps to establish its
presence in the industry. In March last year, the startup secured $7 million to
expand its offering including onboarding cryptocurrency and equity products for institutional investors. The capital served an addition to the $14 million it raised in an earlier round
led by Point72 Ventures.
Already, 24 Exchange has made efforts towards its expansion towards
cryptocurrency. Days after raising new capital in March, the trading platform
provider finalized its first crypto NDF trades in a milestone event
that enjoyed the participation of ED&F Man Capital Markets, XBTO and QCP.
Earlier in February, 24 Exchange obtained a license to kick off its
cryptocurrency spot trading activities in Bermuda.
In 2021, the trading platform expanded into interbank forex swaps and launched its
first trade with Standard Chartered Bank, its central counterparty
partner.
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