OKX, a crypto exchange and Web3 technology company, reveals that its Liquid Marketplace achieved a record monthly high with futures spreads trading volumes amounting to an impressive $1.54 billion in September 2023. This signifies a notable 62% of the institutional market share for futures spreads during the same month.

OKX Sets the Pace with Nitro Spreads Launch

The driving force behind this achievement has been the July 2023 launch of "Nitro Spreads", a dedicated venue within OKX's Liquid Marketplace designed to cater to institutional traders seeking to execute basis, futures spreads, and funding rate arbitrage strategies. The cumulative futures spreads volumes on OKX's platform have consistently led the market from August 28 to October 11, 2023.

OKX's volumes on futures spreads reached "high-water mark" levels, with notional volumes exceeding 100 million USDT on four separate occasions within this timeframe (specifically, on September 12, September 19, September 28, and October 10, 2023).

These trading volume milestones solidify OKX's Liquid Marketplace as the preferred venue for institutional traders looking to leverage superior liquidity for a wide range of trades, including futures spreads, spot OTC basis, and options.

OKX's Chief Commercial Officer, Lennix Lai said: “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.”

Transforming Institutional Trading on OKX

Since its introduction in July 2023, Nitro Spreads has been gaining considerable traction. In fact, OKX announced on October 6 that Nitro Spreads had achieved a cumulative trading volume exceeding 2 billion USDT.

🥁 Fresh off the press for our institutional customers 🥁

📢 Introducing our latest feature, Nitro Spreads, makes executing complex basis trades more efficient and hassle-free!

One-click basis trades enabled ✔️

Available on #OKX Liquid Marketplace ⤵️

— OKX (@okx) June 27, 2023

Nitro Spreads serves as a dedicated platform for institutional traders to execute advanced strategies with efficiency within OKX's Liquid Marketplace. It offers the ability to execute both sides of a trade through a central order book.

Nitro Spreads minimizes leg risk between markets and enhances capital efficiency for institutional traders. Moreover, traders can opt for a guaranteed spread before execution. It reduces the potential for unexpected price slippage, with trades promptly matched and settled.