Key Takeaways
- Hidden Road Partners joins forces with OKX, integrating Nitro Spreads into its prime brokerage offerings.
- Institutional clients of Hidden Road will benefit from on-demand access to OKX’s deep liquidity, minimizing leg risk between markets, and the ability to select guaranteed spreads before trade execution.
Hidden Road Partners, a global credit network catering to institutions, is looking to enhance its prime brokerage offerings through a strategic partnership with OKX, a leading crypto exchange and Web3 technology company.
The collaboration, unveiled today, aims to empower Hidden Road’s clientele with seamless access to advanced trading strategies and enhanced efficiency in executing delta rolls. At the core of this partnership lies the integration of OKX’s Nitro Spreads into Hidden Road’s prime brokerage suite, offering a turn-key solution for institutional traders.
Nitro Spreads, OKX’s flagship offering, provides a venue for executing basis, futures spreads, and funding rate arbitrage strategies. By integrating Nitro Spreads into its platform, Hidden Road aims to equip its institutional client base with several key benefits. These include on-demand access to OKX’s deep liquidity, minimized leg risk between markets, and the ability to select guaranteed spreads before trade execution, thereby mitigating the risk of price slippage.
Michael Higgins, CEO and Global Head of Business Development at Hidden Road International, emphasized the company’s commitment to expanding market access and capital efficiency for its counterparties.
He highlighted the integration of Nitro Spreads as a pivotal step towards enabling risk-managed arbitrage strategies for Hidden Road’s clientele.
Lennix Lai, OKX’s Global Chief Commercial Officer, underscored the significance of leveraging Nitro Spreads’ liquidity to extend OKX’s institutional offerings to an expanded network of traders.
He emphasized the collaborative effort’s role in streamlining the trading experience for Hidden Road’s clients while showcasing OKX’s technical prowess in the institutional trading sphere.
The announcement comes on the heels of OKX’s recent milestone achievement, with the exchange surpassing its all-time high in monthly futures spreads trading volume on Nitro Spreads, reaching nearly US$5 billion in March 2024. This milestone underscores OKX’s dedication to enhancing its institutional offerings and solidifies its position as a leading player in the crypto exchange landscape.
In addition to the partnership announcement, OKX recently introduced a ‘Quick Trading’ mode on Nitro Spreads, allowing users to instantly select the ‘Top of Book’ on any spread/side with a double-click. This enhancement eliminates the need for manual order book navigation, further enhancing the trading experience for institutional clients.
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