Key Takeaways
- Hidden Road Partners partners with OKX to integrate Nitro Spreads into its leading brokerage service.
- Hidden Road’s institutional clients benefit from on-demand access to OKX’s abundant liquidity, minimal inter-market leg risk, and the ability to select spreads prior to trade execution.
Hidden Road Partners, a global credit network targeting institutions, seeks to strengthen its prime brokerage services through a strategic partnership with OKX, a leading cryptocurrency exchange and Web3 technology company.
The goal of the collaboration, unveiled today, is to give Hidden Road’s clients seamless access to advanced trading strategies and enjoy improved efficiencies when executing delta rolls. The essence of this partnership is the integration of OKX’s Nitro Spreads into Hidden Road’s main brokerage suite, providing a turnkey solution for institutional traders.
OKX’s flagship product, Nitro Spreads, provides a place to execute basis, futures spreads and funding rate arbitrage strategies. By integrating Nitro Spreads into its platform, Hidden Road aims to provide several key benefits to its institutional customer base. This includes on-demand access to OKX’s deep liquidity, minimizing cross-market bridging risk, and the ability to select guaranteed spreads before executing trades to mitigate price downside risk.
Michael Higgins, CEO and Global Head of Business Development at Hidden Road International, emphasized the company’s efforts to expand counterparty market access and capital efficiency.
He highlighted the integration of Nitro Spreads as a pivotal step in realizing risk-managed arbitrage strategies for Hidden Road’s clients.
Lennix Lai, OKX’s Global Chief Commercial Officer, emphasized the importance of leveraging the liquidity of Nitro Spreads to extend OKX’s institutional services to an expanded network of traders.
He highlighted the role of the joint effort in streamlining the trading experience for Hidden Road clients while demonstrating OKX’s technical capabilities in the institutional trading space.
This announcement follows OKX’s recent milestone achievement. The exchange surpassed an all-time high in monthly futures spread trading volume on Nitro Spreads, reaching approximately $5 billion in March 2024. This milestone highlights OKX’s commitment to strengthening institutional services. We have solidified our position as a leader in the cryptocurrency exchange environment.
In addition to the partnership announcement, OKX recently introduced a ‘Quick Trade’ mode to Nitro Spreads, allowing users to instantly select the ‘Top of Book’ on any spread/side with a double click. These enhancements eliminate the need for manual order book navigation and further enhance the trading experience for institutional clients.
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