In a remarkable feat for the crypto exchange and Web3 technology company, OKX proudly announces that its Liquid Marketplace reached an unprecedented milestone in September 2023, recording an astonishing $1.54 billion in trading volumes for futures spreads. This achievement signifies an impressive 62% of the institutional market share for futures spreads during the same month.
Fueling this exceptional performance is the launch of “Nitro Spreads” in July 2023, a specialized platform within OKX’s Liquid Marketplace tailored to meet the demands of institutional traders seeking to execute basis, futures spreads, and funding rate arbitrage strategies. From August 28 to October 11, 2023, OKX’s platform consistently outperformed the market in cumulative futures spread volumes.
OKX’s futures spreads volumes reached a pinnacle, with notional volumes surpassing 100 million USDT on four separate occasions within this timeframe, specifically on September 12, September 19, September 28, and October 10, 2023.
These impressive trading volume achievements firmly establish OKX’s Liquid Marketplace as the premier destination for institutional traders aiming to harness superior liquidity for various types of trades, including futures spreads, spot OTC basis, and options.
Lennix Lai, OKX’s Chief Commercial Officer, expressed his satisfaction, stating, “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.”
Revolutionizing Institutional Trading with Nitro Spreads
Since its introduction in July 2023, Nitro Spreads has gained substantial traction. In a recent announcement on October 6, OKX revealed that Nitro Spreads had achieved a cumulative trading volume exceeding 2 billion USDT.
Nitro Spreads functions as a dedicated platform for institutional traders to efficiently execute advanced strategies within OKX’s Liquid Marketplace. It offers the unique capability to execute both sides of a trade through a central order book.
Nitro Spreads effectively minimize leg risk between markets and enhance capital efficiency for institutional traders. Additionally, traders have the option to secure a guaranteed spread before execution, reducing the potential for unexpected price slippage, with trades promptly matched and settled. This transformative offering has undoubtedly cemented OKX’s position as a leader in the crypto trading landscape.