SINGAPORE, May 19, 2024
/PRNewswire/ -- OKX, a leading crypto exchange
and Web3 technology company, today announced a strategic
partnership with Hidden Road Partners (Hidden Road), the
global credit network for institutions. This partnership aims to
offer a turn-key experience for Hidden Road's clients, enabling
them to execute advanced trading strategies and facilitate delta
rolls more efficiently.
This partnership centers on the integration of OKX's Nitro
Spreads, a venue to execute basis, futures spreads, and funding
rate arbitrage strategies, into Hidden Road's prime brokerage
offerings. This will provide Hidden Road's robust institutional
client base with the following benefits and capabilities:
- On-demand access to OKX's deep liquidity for both makers and
takers;
- The opportunity to minimize leg risk between markets (all
orders on Nitro Spreads are guaranteed to fill in matching
quantities for each leg or none at all); and
- The ability to select a guaranteed spread for a trade before
execution, mitigating the risk of unexpected price slippage.
- Trades are then matched and settled immediately.
Hidden Road International CEO and Global Head of Business
Development Michael Higgins said: "Hidden Road continually
seeks to increase market access and capital efficiency through
expanded prime brokerage offerings. Integrating OKX's Nitro
Spreads product builds upon this philosophy by extending our
counterparties' ability to execute risk-managed arbitrage
strategies."
OKX Global Chief Commercial Officer Lennix Lai said: "Leveraging the superior
liquidity of Nitro Spreads, our strategic partnership with
Hidden Road enables us to extend the reach of OKX's deep liquidity
and efficient execution of advanced strategies to an expanded
network of institutional traders. Our collaboration further
streamlines the trading experience for Hidden Road clients and
underscores our technical expertise in the institutional trading
space."
This collaboration follows OKX's recent achievement of
surpassing its all-time high in monthly futures spreads trading
volume on Nitro Spreads, reaching nearly US$5 billion* in March
2024. The milestone is a testament to the exchange's
dedication to enhancing its institutional offerings. For example,
OKX recently launched a 'Quick Trading' mode on Nitro Spreads,
which enables users to instantly select the 'Top of Book' on any
spread/side with a double-click, removing the need to manually open
order books or input details.
*Source: Laevitas (as of April 5,
2024)
For further information, please contact:
media@okx.com
About OKX
OKX is a leading global crypto exchange and
innovative Web3 company. Trusted by more than 50 million global
users, OKX is known for being one of the fastest and most reliable
crypto apps in the world.
As a top partner of English Premier League champions Manchester
City FC, McLaren Formula 1 and Olympian Scotty James, OKX aims to
supercharge the fan experience with new engagement opportunities.
OKX is also the top partner of the Tribeca Film Festival as part of
an initiative to bring more creators into web3.
The OKX Wallet is the platform's latest offering for people
looking to explore the world of NFTs and the metaverse while
trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes
its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or
visit: okx.com
About Hidden Road
Hidden Road Partners is the global credit network for
institutions, enabling seamless access to traditional and digital
markets. Conflict-free and built on a modern technology stack,
Hidden Road removes complexity and cost in prime brokerage,
clearing, and financing.
For more information, please visit: hiddenroad.com
Disclaimer
This announcement is provided for informational purposes
only. It is not intended to provide any investment, tax, or legal
advice, nor should it be considered an offer to purchase, sell,
hold or offer any services relating to digital assets. Digital
assets, including stablecoins, involve a high degree of risk, can
fluctuate greatly, and can even become worthless. You should
carefully consider whether trading or holding digital assets is
suitable for you in light of your financial condition and risk
tolerance. OKX does not provide investment or asset
recommendations. You are solely responsible for your investment
decisions, and OKX is not responsible for any potential losses.
Past performance is not indicative of future results. Please
consult your legal/tax/investment professional for questions about
your specific circumstances.
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SOURCE OKX