OKX Launched Nitro Spreads as a New Feature - Excerpts

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The cryptocurrency industry is experiencing rapid growth, and amidst the anticipation of a bullish market, exchanges are forging ahead with their development plans. OKX, one of the biggest cryptocurrency exchanges in the world, has recently introduced its Nitro Spreads Feature, receiving positive feedback from a significant portion of its key clientele. The feature has now been made available to apply for early access.

Although the Nitro Spreads feature may not directly cater to retail investors, it proves to be a valuable tool for OKX’s institutional clients. The exchange has designed this feature with the intention of providing enhanced services to its institutional clientele, making it a beneficial addition for this particular user group.

What is the Nitro Spreads Feature?

OKX made an announcement in April, revealing that the trading volume on its Liquid Marketplace had surpassed USD 1 billion in the first quarter of 2023. This significant milestone indicated a rapid increase in demand for OKX’s services, signalling a potential need for the exchange to develop a product that streamlines and enhances the process of over-the-counter (OTC) buying for clients with substantial funds. The aim would be to provide a more seamless and sophisticated experience for such clients.

Nitro Spreads was launched as a new product developed by OKX which allows traders to simply and easily make a basis trade with one-click, atomic execution. Basis trading is a way for traders to try to profit from the difference between an asset’s price difference on different markets, such as spot vs. futures price, and can generate returns when executed properly. It typically requires the two legs of the trade – spot and futures – to be managed flawlessly.

🥁 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

OKX introduced Nitro Spreads as a new product, specifically designed to enable traders to engage in basis trading with utmost convenience. With its one-click, atomic execution functionality, Nitro Spreads simplifies the process for traders who seek to profit from price discrepancies between different markets, such as spot and futures prices.

Properly executed basis trades have the potential to generate returns, but traditionally, managing the two legs of the trade – spot and futures – can be challenging. Nitro Spreads addresses this challenge by streamlining and facilitating the management of these components, making basis trading more accessible and efficient for users.

Nitro Spreads simplifies the execution of complex trades by automating them into a single click, capitalizing on the exchange’s exceptional liquidity and low latency to maximize user benefits. This feature enables institutional traders to execute a range of basis trading strategies conveniently.

What Can Users Expect Out of It?

Through an intuitive interface, institutional traders can employ popular delta one spread strategies, including calendar spreads, future rolls, and funding rate farming, all presented in an orderbook format. The user-friendly nature of Nitro Spreads allows institutional traders to efficiently implement these strategies and take advantage of the opportunities presented by the market.

The on-demand OKX Liquid Marketplace offers a gateway to extensive institutional liquidity, enabling users to execute various crypto trading strategies on a large scale. This includes engaging in futures spreads, executing significant options block trades, and conducting spot over-the-counter (OTC) transactions.

In essence, OKX’s deep-pocketed clients now have enhanced and streamlined access to crypto purchasing, which is expected to contribute to the exchange’s continued progress and further growth. By providing such comprehensive services, OKX aims to cater to the needs of its high-value clientele and strengthen its position in the market.

About the OKX Exchange

OKX is a major global cryptocurrency exchange headquartered in Malta, which has become a trusted platform for a wide range of users, including crypto enthusiasts, traders, and institutional investors. Since its launch, OKX has prioritized offering diverse features and services to cater to the unique needs of its users, which has evidently proved to be the prime reason for its imminent growth.

The exchange supports an extensive selection of cryptocurrencies and provides direct access to various DeFi and NFT products within its platform. With millions of registered users worldwide, OKX has established a substantial user base, which speaks to its reliability, security, and user-friendly interface. The exchange’s commitment to maintaining a high level of security and compliance is evident through its adherence to industry best practices and implementation of advanced security measures.

By prioritizing user fund protection and personal information security, OKX has solidified its reputation as a trustworthy platform. As OKX continues to expand its services, it remains a popular choice for investors looking to enter or navigate the world of cryptocurrencies. With its wide array of supported assets and a focus on security, OKX provides a reliable avenue for users to invest and grow their crypto portfolios over the long term, and can definitely be a top pick for beginners as well as experienced investors in the crypto space.

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