24 Exchange, a New Multi-Asset Class OTC Trading Platform, Goes Live

FX Trading Now Available,with Low Trading Costs and No Market Data Fees

HAMILTON,Bermuda,Dec. 2,2019 -- 24 Exchange,a new offshore,multi-asset class,over-the-counter (OTC) platform,announced today that it is live and open for trading. The first product available for trading is Foreign Exchange (FX) Non-Deliverable Forwards (NDFs). 24 Exchange enables institutional market participants to anonymously exchange FX NDFs at the lowest possible transaction cost,creating a much-needed additional liquidity pool for the market.

24 Exchange significantly reduces the costs of exchanging financial assets for its participants and eliminates market data fees. The company delivers 24-hour access to liquidity for customers. In addition to offering full-day market access to a range of asset classes,24 Exchange uses cutting edge technology to reduce trading fees to rates far lower than those charged by the major legacy exchanges.

Dmitri Galinov,CEO and founder of 24 Exchange,said: "24 Exchange is a robust alternative to the major exchanges that delivers an over-the-counter solution at significantly reduced prices with improved functionality. Unlike the major legacy exchanges,our new platform will offer 24-hour trading capabilities for an unmatched range of asset classes. In the interconnected world of today,it is essential to provide a low-cost market that is available 24 hours for participants to transact."

In NDFs,through its partnership with Standard Chartered Bank,24 Exchange offers a central prime broker clearing model that facilitates anonymity and lower margin costs for participants. 24Exchange's liquidity is provided by a number of the largest global FX participants,enabling streaming NDF liquidity on standard contracts. The platform also facilitates broken dates NDF trading via request-for-stream (RFS) functionality.

Jason Woerz,President of 24 Exchange,added: "Our NDF launch is the start of a longer and much needed progression of the existing market structure that our platform will make possible. The rising costs of regulations and fees associated with the legacy exchanges can be the largest cost factor in many participants' budgets – and with little to no utility in return. 24 Exchange puts the markets back into the hands of those actually using them day-to-day and targets the ever-increasing costs of the major legacy exchanges."

24 Exchange expects to soon offer trading in additional FX derivatives and other asset classes to maximize the cost savings for its participants.

About 24 Exchange

24 Exchange is a multi-asset class,multi-dealer trading platform that allows market participants to exchange their exposures at the lowest possible cost. Our mission is to enable our members to initiate the most cost-effective trades across a growing range of asset classes,24 hours a day. We lower the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. 24 Exchange is operated by 24 Exchange Bermuda Limited. The company is domiciled in Hamilton,Bermuda but is not regulated by the Bermuda Monetary Authority. More information is available at https://www.24exchange.net/.

Media Contact:

Eric Andrus

KARV Communications

Email: eca@karvcommunications.com

Phone: +1-212-333-0275