OKX Partners With Hidden Road To Expand Its Nitro Spreads Offerings

OKX, a renowned platform for trading cryptocurrency, has announced a partnership with an institutional credit network, Hidden Road Partners. The trading platform is set to expand its institutional trading offerings. With this collaboration, Hidden Road’s customers can now access OKX’s deep liquidity. They can also execute complex trading strategies.

OKX Plans To Expand Its Nitro Spreads Offerings

OKX plans to integrate its Nitro Spreads offerings with Hidden Road’s prime brokerage solutions as part of the alliance. Nitro Spreads allows the execution of basis spreads, futures, and funding rate arbitrage strategies.

The latest integration benefits all of Hidden Road’s institutional clients. These benefits include direct access to OKX’s vast liquidity for both takers and makers and reduced leg risk between markets by guaranteeing matching quantities for each leg. Hidden Road’s clients will also gain secured spread selection before executing trades, minimizing unforeseen price slippage risks.

Hidden Road’s International Chief Executive Officer and Global Business Development Head, Michael Higgins, spoke on the integration. He revealed that the company aims to improve capital efficiency and market access through extended prime brokerage offerings.

Michael noted that by Incorporating OKX’s Nitro Spreads product, Hidden Road extends its philosophy by expanding its counterparties’ capacity to implement risk-controlled arbitrage approaches. He predicts that the newly launched Bitcoin ETFs will introduce previously unknown strategies, thus substantially transforming the cryptocurrency market.

OKX Aims To Expand Its Cryptocurrency Offerings To The Australian Market

OKX has announced the expansion of its cryptocurrency trading services and derivatives to several domains, including the Australian market. The company focuses on offering derivative instruments to investors, especially the institutional ones.

The cryptocurrency trading provider has hit a new record as its futures spreads monthly trading volume on Nitro Spreads almost reached $5 billion in March this year. This accomplishment shows that the exchange is committed to enhancing its offerings for institutional clients.

OKX has expanded its services by launching the Quick Trading mode on Nitro Spreads. This feature is created to simplify the selection of the “Best of Them All” for any spread or side.

Lennix Lai, OKX’s Global Chief Commercial Officer, said that by utilizing the augmented liquidity of Nitro Spreads, the alliance with Hidden Road allows the expansion of OKX’s deep liquidity. Furthermore, it enables the efficient execution of improved strategies for many institutional traders.

OKX is the third-biggest cryptocurrency exchange in spot volumes, with Binance first and ByBit second. The platform maintains a 9% market share and reaches volumes of $94.12 billion. In April 2024, the company revealed its plan to expand its services to European regions. It also plans to rebrand its district branch, Okcoin Europe Ltd.