24 Exchange Hits New Peak as NDF Activity Rises
Posted by Colin Lambert. Last updated: August 9, 2023
24 Exchange has continued to set new volume highs for its NDF platform, breaching the $2 billion per day threshold for the first month in its history.
The firm says NDF ADV was $2.25 billion per day in July, a very healthy 14.3% increase from June and three-and-a-half times higher than July 2022. This marks the third successive month that 24X has hit a new peak for its NDF platform.
Elsewhere it was also a good month for Cboe FX SEF, with volumes popping back up above the $1 billion per day mark. At $1.024 billion, this is a7.2% month-on-month increase and a 17% increase on a year-on-year basis. Having broken the $1 billion per day threshold in February, this is the third time this year Cboe FX has been above that point.
There was a slight decline on the third venue to report NDF data – Deutsche Börse’s 360T – which reports NDF ADV of $1.42 billion. This is down 3% from June, but is up 8.6% year-on-year.