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OKX’s Crypto-Margined Spreads Improve Institutional Trading
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OKX’s Crypto-Margined Spreads Improve Institutional Trading

Daniela Kirova
Daniela Kirova
September 4th, 2023
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  • Users can now place an order faster than other exchanges, which support just REST API
  • Since OKX launched Nitro Spreads, it has reached $500 million in trading volume

Leading crypto exchange and trading platform OKX has improved its offerings to institutional traders by adding crypto-margined spreads to its trading tool Nitro Spreads, according to a press release. Nitro Spreads now features WebSocket trading, which allows users to place an order faster than most other exchanges, which offer REST API support only.

This lets Nitro Spreads support WebSocket and other such high-frequency trading feature sets, which the OKX exchange offers.

A wider variety of market options

The leading trading tool now features a bigger variety of market options, including spreads on the quarterlies and weeklies of inverse contracts. No such spreads existed on OKX before Nitro Spreads were introduced.

These enhancements mark a step forward for OKX's Liquid Marketplace, its options liquidity network, as well as its OTC and futures spreads. The network aims to expand its capacities and offerings to improve services for institutional clients.

Since OKX launched Nitro Spreads, it has reached a cumulative $500 million in trading volume. Some of the largest trades are in the 1,000-2,000 ETH and 100s of BTC.

BTC delivered semiannual returns in just 8 days

According to OKX’s recent report on institutional markets, Bitcoin delivered 98% of its returns for a period of just eight trading days in six months (from 1 January to 30 June, 2023). The report draws attention to the problems with timing stable returns.

A rarity among trading tools

OKX's Nitro Spreads, available on the Liquid Marketplace, is among the few crypto trading tools, where a trade’s two legs are executed via the order book at the same time. This does away with leg risk between markets.

Nitro Spreads is available to certain institutional clients who apply for early access. It will be available to all of OKX's institutional clients in the near future.

Contributors

Daniela Kirova
Writer
Daniela is a writer at Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. She has over 15 years of experience as a writer, having ghostwritten for several online publications in the financial sector.