OKX, a leading cryptocurrency exchange and Web3 technology company, today announced that futures spread trading volume on Liquid Marketplace, a spot OTC, futures spreads and options liquidity network, reached a monthly high of $1.54 billion in September 2023. This achievement represents a 62%* institutional market share for futures spreads for the month.
Since the July 2023 launch of Nitro Spreads, a venue on the OKX Liquid Marketplace where institutional traders can execute basis, futures spread and funding rate arbitrage strategies, OKX’s cumulative futures spread trading volume has increased from August 28, 2023 to October 11, 2023. It led the market until today.
OKX’s futures spread trading volume was outstanding even during its ‘peak’ volume days. The OKX futures spread exceeded 100 million USDT in nominal trading volume four times within the period (September 12, September 19, September 28, and October 10). 2023).
These volume milestones solidify OKX’s Liquid Marketplace as the go-to destination for institutional traders looking to leverage superior liquidity for a variety of trades, including futures spreads, spot OTC basis and options.
OKX Chief Commercial Officer Lennix Lai said: “Recent futures spread volume figures confirm that OKX Liquid Marketplace is a diverse ecosystem of trading parties pursuing a variety of trading strategies and indicates that it is the trading venue of choice for institutional traders. We have worked hard to develop the products, liquidity and intuitive trading features that traders demand in a highly competitive market environment. We will continue to listen to our traders and adapt our platform to their needs to further expand our customer base.”
OKX announced on October 6 that Nitro Spreads has surpassed 2 billion USDT in cumulative trading volume since its launch in July 2023.
Nitro Spreads is a place for institutional traders to execute advanced strategies and efficiently facilitate delta rolls on OKX’s Liquid Marketplace. With the ability to execute both trading legs through a central order book, Nitro Spreads minimizes leg risk between markets and provides improved capital efficiency for institutional traders. Before execution, traders can also choose a guaranteed spread for their trades to mitigate unexpected price drops. The transaction is then matched and settled immediately.
*Source: Levitas
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