Crypto exchange and Web3 technology firm OKX reported that its Liquid Marketplace soared to unprecedented heights in September 2023. The platform achieved a staggering $1.54 billion in futures spreads trading volumes, securing an impressive 62% of the institutional market share for futures spreads during the same period.
The driving force behind this remarkable feat was the launch of “Nitro Spreads” in July 2023, a dedicated venue within OKX’s Liquid Marketplace tailored to meet the needs of institutional traders. Nitro Spreads caters to traders executing basis, futures spreads, and funding rate arbitrage strategies. Since its inception, this specialised platform has consistently led the market from August 28 to October 11, 2023, establishing OKX as a market leader.
OKX’s Chief Commercial Officer, Lennix Lai, expressed his enthusiasm about the achievement, 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.”
The success of Nitro Spreads has been nothing short of exceptional. OKX proudly announced on October 6 that Nitro Spreads had surpassed a cumulative trading volume of 2 billion USDT, underscoring its popularity among institutional traders seeking advanced trading strategies.
Nitro Spreads provides a dedicated platform for institutional traders, offering efficiency and convenience within OKX’s Liquid Marketplace. Notably, it enables the execution of both sides of a trade through a central order book, minimizing leg risk between markets and enhancing capital efficiency for traders. Additionally, the platform allows traders to opt for a guaranteed spread before execution, mitigating the potential for unexpected price slippage.
