- OKX introduces significant updates to Nitro Spreads, including crypto-margined spreads, WebSocket Trading, and expanded market options.
- The platform aims to improve liquidity and serve institutional clients, targeting an OTC and futures market expansion.
- Since its launch, OKX’s Nitro Spreads has achieved a trading volume of $500 million, with notable trades in BTC and ETH.
Today, OKX has announced new updates for Nitro Spreads. As the web3 tech-innovative giant continues to evolve, users have their eyes set on the latest developments. As per the leading crypto exchange, there are certain developments that the users are going to enjoy. Which one in particular would those be? Well, let’s find out.
Amongst the several enhancements introduced by OKX, some major ones include the introduction of crypto-margined spreads to Nitro Spreads. Moreover, the platform aims to enhance institutional trading with the addition of WebSocket Trading and more market options.
Through WebSocket trading, users will be able to place an order more seamlessly and faster than other platforms that only support REST APIs.
Through this feature, Nitro Spreads is expected to match in frequency with the trading feature sets offered by the main OKX exchange through WebSocket Trading. Nitro Spreads will also include a wide variety of market options now, including spreads on the weeklies and the quarterlies of inverse contracts. It is interesting to note here that spreads on these futures did not exist before.
With these improvements, the platform’s OTC, futures spreads, and options liquidity network will improve significantly. The platform also aims to improve its Liquid Marketplace since it aims to expand its offerings and capabilities to better serve institutional clients.
Since Nitro Spreads was launched, OKX has hit a cumulative US$500 million in terms of trading volumes. Some of the most notable trades have been in the 100’s of BTC and 1,000-2,000 ETH. With a reduction in leg risk in the market, OKX is surely attaining new heights with Nitro Spreads. It remains to be seen, however, how users perceive this new development.