Hidden Road Partners, a global credit network catering to institutions, has announced a strategic partnership with OKX, a leading crypto exchange and Web3 technology company. This collaboration aims to enhance Hidden Road’s prime brokerage offerings by integrating OKX’s Nitro Spreads into its platform, providing institutional clients with advanced trading strategies and enhanced efficiency in executing delta rolls.
Nitro Spreads, OKX’s flagship offering, allows for the execution of basis, futures spreads, and funding rate arbitrage strategies. By integrating Nitro Spreads into its prime brokerage suite, Hidden Road will provide its institutional client base with on-demand access to OKX’s deep liquidity, minimized leg risk between markets, and the ability to select guaranteed spreads before trade execution, reducing the risk of price slippage.
Michael Higgins, CEO and Global Head of Business Development at Hidden Road International, highlighted the company’s commitment to expanding market access and capital efficiency for its counterparties. He sees the integration of Nitro Spreads as a crucial step towards enabling risk-managed arbitrage strategies for Hidden Road’s clients.
Lennix Lai, OKX’s Global Chief Commercial Officer, emphasized the importance of leveraging Nitro Spreads’ liquidity to extend OKX’s institutional offerings to a broader network of traders. He believes that this collaborative effort will streamline the trading experience for Hidden Road’s clients and showcase OKX’s technical expertise in the institutional trading sphere.
The partnership 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 demonstrates 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 has 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.
