24X has reported a record $14.7 billion in foreign exchange non-deliverable forwards processed on 31 July, surpassing its previous high of $12.2 billion set just three months earlier. The institutional FX platform also posted a monthly average daily volume record of $9.4 billion for July, with Korean won NDFs alone hitting $7.1 billion in a single day. CEO Dmitri Galinov credited the surge to growing order flow from global financial institutions and deeper market liquidity improving data quality for clients.
The milestone comes as 24X’s separate equities exchange prepares to launch 23-hour weekday trading for US stocks in the second half of 2026. The company has not linked the FX records to its equities expansion, which received SEC approval and currently operates from 4 am to 8 pm Eastern Time. Both venues operate on distinct regulatory tracks, with the equities business launched in October 2025.
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FXnCO Insight
** Institutional traders should monitor 24X’s NDF liquidity closely as rising volumes may signal tightening spreads and improved execution quality, particularly in Korean won pairs.
Source: Finance Magnates