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.”
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.
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
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