Dubai, UAE, June 27th, 2023, Chainwire – OKX Launches ‘Nitro Spreads’ for Basis Trading on Institutional Liquid Marketplace
OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, today announced the launch of its new ‘Nitro Spreads’ feature on its institutional Liquid Marketplace. This OTC, futures spreads and options liquidity network allows traders to make complex basis trades with a simple one-click execution.
Basis trading is a strategy built around trading the difference between an asset’s price on two separate markets, such as spot vs. futures, and typically requires both legs of the trade to be managed simultaneously. OKX’s Nitro Spreads automates this complex trade into one click, leveraging the platform’s superior liquidity and low latency for maximum user benefit.
Nitro Spreads is one of the few basis trading tools in the crypto market in which the two legs of the trade are executed via a central orderbook, eliminating leg risk between markets. Traders are also able to select a guaranteed spread for a trade before execution, mitigating unexpected price slippage, and trades are then matched and settled immediately.
OKX Global Chief Commercial Officer Lennix Lai said: “In the current complex market environment, institutions demand reliability, predictable returns and genuine innovation when choosing a trading venue. This is especially true in basis trading, where precision is paramount. Nitro Spreads raises the bar for the industry for efficient basis trading, and we invite institutional traders everywhere to see how it can enhance their strategies and contribute to their success.”
A variety of basis trading strategies can be executed by institutional traders through Nitro Spreads’ easy-to-use interface. Strategies like calendar spreads, future rolls and funding rate farming can all be done in an orderbook format.
The on-demand OKX Liquid Marketplace provides access to deep institutional liquidity and a number of crypto trading strategies. In April, OKX announced that the Liquid Marketplace exceeded USD1 billion in trading volume during the first three months of 2023.
About OKX
OKX is the second-largest global crypto exchange by trading volume and a leading Web3 ecosystem. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.
The platform has partnered with English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James and F1 driver Daniel Ricciardo, to supercharge the fan experience with new engagement opportunities. It is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.
In addition, OKX has launched the OKX Wallet, allowing people 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 their 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, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.
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