24 Exchange Launches NDS Trading

24 Exchange has officially added non-deliverable swaps (NDS) trading to its platform, the firm says the new product is available in the major non-deliverable currency pairs.

The new FX NDS product mirrors the streaming functionality and workflow that 24 Exchange currently provides for FX non-deliverable forwards (NDF) trading, which was the firm’s first product launch. 24X has seen a string of record days in its NDF volumes, the latest coming when $8.2 billion was traded in a single day.

As is the case with NDFs, Standard Chartered Bank is the central counterparty for NDS, and the new products are accessible via the 24 Exchange graphic user interface (GUI), and over the same API as other FX products. This ensures efficient and easy access, the firm states.

“[Adding] non-deliverable swaps to our platform, leverages the strong demand and engagement we’ve seen from our institutional users in the NDF space,” says 24 Exchange CEO and founder Dmitri Galinov. “This launch reflects our continued focus on broadening access to innovative FX products through cost-efficient, technology-driven solutions that enable users to efficiently maximise liquidity.”