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SINGAPORE, May 20, 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)
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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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