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OKX Enhances Nitro Spreads with Updates to Institutional Trading

OKX, a global crypto exchange, enhances its institutional trading tool Nitro Spreads with features like crypto-margined spreads and WebSocket trading to cater to institutional clients.

Key Points

  • OKX announces significant updates to its institutional trading tool, Nitro Spreads, including the addition of crypto-margined spreads and WebSocket trading for faster transactions.
  • The platform expands its market options, offering spreads on weeklies and quarterlies of inverse contracts.
  • Nitro Spreads has seen a cumulative trading volume of $500 million and will soon be accessible to all institutional clients.
  • OKX releases an institutional market analysis report, highlighting the challenges of timing stable returns in volatile markets and reaffirming its commitment to transparency and innovation in the crypto exchange space.

OKX, a global crypto exchange trusted by over 50 million users and recognized for its contributions to Web3 technology, has announced a series of significant updates to its institutional trading tool, Nitro Spreads.

These updates aim to expand the platform’s capabilities and provide more options to traders.

Crypto-Margined Spreads Added to Nitro Spreads

One of the major updates to Nitro Spreads is the addition of crypto-margined spreads.

This new feature allows traders to hedge their positions more effectively, enhancing OKX’s Liquid Marketplace, which serves as a liquidity network for over-the-counter (OTC), futures spreads, and options.

With this addition, OKX aims to provide a more comprehensive trading experience for its institutional clients.

Another notable enhancement is the integration of WebSocket trading.

This technology enables faster transactions compared to platforms that solely rely on REST APIs.

By incorporating WebSocket trading, Nitro Spreads aligns itself with the high-frequency trading capabilities already available on the main OKX exchange.

The introduction of this feature is expected to further improve the trading experience for institutional traders.

Expanded Market Options and Futures Spreads

In addition to the aforementioned updates, OKX now offers a wider array of market options on Nitro Spreads.

This includes the availability of spreads on weeklies and quarterlies of inverse contracts. Prior to the introduction of Nitro Spreads, these spreads did not exist on the OKX platform.

This expansion of market options is part of OKX’s ongoing strategy to diversify its product offerings and better cater to the needs of its institutional clients.

Since its launch, Nitro Spreads has seen a cumulative trading volume of US$500 million, with some of the largest trades involving significant amounts of BTC and ETH.

The platform is currently accessible to select institutional traders who have applied for early access.

However, in the coming weeks, OKX plans to open Nitro Spreads to all of its institutional clients, allowing a broader user base to benefit from the updated features.

Institutional Market Analysis Report

OKX recently released the first report in a series of institutional market analyses, titled ‘How OKX’s Nitro Spreads tool can help institutional investors navigate volatile markets.’

The report highlights the findings that Bitcoin delivered 98% of its returns on just eight trading days out of 180 from January 1 to June 30, 2023. This emphasizes the challenges institutional investors face in timing stable returns in volatile markets.

Concluding Thoughts

OKX is renowned for its speed and reliability, and it demonstrates its commitment to transparency by publishing its Proof of Reserves on a monthly basis.

Additionally, the exchange actively engages with various sports and entertainment entities, such as English Premier League champions Manchester City FC and McLaren Formula 1, as part of its broader initiative to involve more creators in the Web3 space.

In conclusion, OKX’s series of updates to Nitro Spreads, its institutional trading tool, are set to significantly enhance the platform’s capabilities.

The addition of crypto-margined spreads, WebSocket trading, and an expanded range of market options demonstrate OKX’s commitment to providing a comprehensive and efficient trading experience for its institutional clients.

These updates, along with the release of the institutional market analysis report, further solidify OKX’s position as a trusted and innovative crypto exchange in the global market.