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Crypto exchange and Web3 technology company OKX has announced a strategic partnership with Hidden Road Partners (Hidden Road), a global credit network for institutions, to provide a seamless trading experience for Hidden Road's prime brokerage clients. The collaboration will enable Hidden Road's institutional clients to execute advanced trading strategies and facilitate delta rolls more efficiently.
The partnership focuses on integrating OKX's Nitro Spreads, a venue for executing basis, futures spreads, and funding rate arbitrage strategies, into Hidden Road's prime brokerage service. This integration will provide Hidden Road's clients with:
▪️ on-demand access to OKX's deep liquidity for both makers and takers,
▪️ the ability 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 opportunity to select a guaranteed spread for a trade before execution, mitigating the risk of unexpected price slippage,
▪️ with trades then matched and settled immediately
Michael Higgins, CEO and Global Head of Business Development, Michael Higgins, Hidden Road
"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," said Michael Higgins, Hidden Road International CEO and Global Head of Business Development.
Lennix Lai, OKX Global Chief Commercial Officer
Lennix Lai, OKX Global Chief Commercial Officer, added, "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."
The collaboration follows OKX's recent milestone of surpassing its all-time high in monthly futures spreads trading volume on Nitro Spreads, reaching nearly US$5 billion in March 2024. This achievement demonstrates the exchange's commitment to enhancing its institutional offerings, such as the recently launched 'Quick Trading' mode on Nitro Spreads, which allows users to instantly select the 'Top of Book' on any spread/side with a double-click, eliminating the need to manually open order books or input details.
