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, reached a record monthly high of US$1.54 billion
in September 2023. This achievement 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 August 28 to October 11 in 2023.
OKX’s
volumes on futures spreads also excelled 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 September 12, September 19,
September 28 and October 10 in 2023).
These
trading volume milestones solidify OKX’s Liquid Marketplace as the go-to 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 October 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.
About
OKX
OKX is a
leading global crypto exchange and innovative Web3 company. Trusted by more
than 50 million global users, OKX is known for being the fastest and most
reliable crypto trading app for traders everywhere.
As a top
partner of English Premier League champions Manchester City FC, McLaren Formula
1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to
supercharge the fan experience with new engagement opportunities. OKX is also
the top partner of the Tribeca Festival as part of an initiative to bring more
creators into web3.
The OKX
Wallet is the platform’s latest offering for people looking to explore the
world of NFTs and the metaverse while trading GameFi and DeFi tokens.
OKX is
committed to transparency and security and publishes its Proof of Reserves on a
monthly basis.
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.
This article was written by FL Contributors at www.forexlive.com.