OKX’s Liquid Marketplace monthly futures spreads volume spikes to $1.54b in September

Dubai, UAE, Oct. 18, 2023, Chainwire

OKX, a crypto exchange and web3 technology company, today announced that futures spreads trading volumes on its Liquid Marketplace, a spot OTC, futures spreads and options liquidity network, rose to a monthly high of $1.54 billion in September 2023.

This represents 62%* of the institutional market share for futures spreads for the month.

Since the July 2023 launch of Nitro Spreads, a venue under OKX’s Liquid Marketplace for institutional traders to execute basis, futures spreads and funding rate arbitrage strategies, OKX’s cumulative futures spreads volumes led the market from Aug. 28 to Oct. 11 in 2023.

OKX’s volumes on futures spreads also rose during “high-water mark” volume days, with OKX futures spreads notional volumes exceeding the 100 million USDT mark on four occasions within the date range (on Sep. 12, Sep. 19, Sep. 28, and Oct. 10 in 2023).

These trading volume milestones solidify OKX’s Liquid Marketplace as a venue for institutional traders looking to take advantage of superior liquidity for a range of trades, including futures spreads, spot OTC basis and options.

OKX chief commercial officer Lennix Lai said:

“The latest futures spread volume figures confirm that OKX Liquid Marketplace is a diverse ecosystem of counterparties pursuing a range of trading strategies and indicates that it is a trading venue of choice for institutional traders. We have worked hard to develop the products, liquidity and intuitive trading features traders demand in an intensely competitive market environment. We will continue to listen to our traders and adapt the platform to their needs going forward to further grow our customer base.”

Since its launch in July 2023, OKX announced on Oct. 6 that Nitro Spreads has surpassed a cumulative trading volume of over 2 billion USDT.

Nitro Spreads is a venue for institutional traders to execute advanced strategies and facilitate delta rolls efficiently on OKX’s Liquid Marketplace.

With the ability to execute both legs of a trade via a central orderbook, Nitro Spreads minimizes leg risk between markets and provides institutional traders with enhanced capital efficiency.

Before execution, traders can also select a guaranteed spread for a trade, mitigating unexpected price slippage. Trades are then matched and settled immediately.

*Source: Laevitas

About OKX

OKX is a cryptocurrency exchange and web3 company with over 50 million users. It also offers a crypto trading app.

OKX has partnered with several entities, including Manchester City FC, McLaren Formula 1, Scotty James, and F1 driver Daniel Ricciardo, to enhance the fan experience with new engagement opportunities. Additionally, it is a partner of the Tribeca Festival, striving to bring more creators into web3.

The OKX Wallet lets users explore non-fungible tokens (NFTs) and the metaverse while trading GameFi and decentralized finance (defi) tokens. OKX prioritizes transparency and security and publishes its proof-of-reserves every month.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. Leveraged trading in digital assets magnifies both potential gains and potential losses and could result in the loss of your entire investment. Past performance is not indicative of future results. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition, particularly if considering the use of leverage.You are solely responsible for your trading strategies and decisions, and OKX is not responsible for any potential losses. Not all products and promotions are available in all regions including the U.S.A., U.K., Crimea, Cuba, Donetsk, Iran, Luhansk, North Korea, Syria Malta, Australia, Bangladesh, Bolivia, The Bahamas, Canada, Malaysia, Hong Kong, France, and Singapore. For more details, please refer to the OKX Terms of Use and Risk & Compliance Disclosure.

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