24 Exchange, the multi-asset trading platform, set a record for average daily FX NDF (foreign exchange non-deliverable forward) trading volume in February, the organisation announced.

The company said it processed $1.49 billion in average daily FX NDF trading volume for its global institutional customers over the course of the month, and reached a daily record FX NDF trading volume of $1.89 billion.

Dmitri Galinov, 24 Exchange CEO and founder, said: "We are very pleased to see such a record-setting response to our FX NDF offering.

“Our platform is uniquely able to bridge the bifurcated pool of liquidity in NDFs to unlock a single anonymous pool of liquidity for discerning institutional customers.

“Our growing company remains committed to providing an optimal customer experience on our platform across multiple asset-class offerings."

The 24 Exchange platform's February average daily FX NDF trading volume was approximately 50 per cent higher than the January ADV of $1 billion.

24 Exchange is operated by 24 Exchange Bermuda Limited and 24 Exchange Broker Limited, which are regulated by the Bermuda Monetary Authority for the purposes of conducting digital asset business pursuant to the Digital Asset Business Act.