Hidden Road Integrates OKX Nitro Spreads for Arbitrage Strategies

To bolster its institutional trading offerings, popular crypto exchange OKX hasannounced a collaboration with Hidden Road Partners, a credit network forinstitutions. The partnership aims to provide Hidden Road's clients with accessto OKX's deep liquidity and faster execution of complex trading strategies.

OKX, Hidden Road Partnerto Enhance Institutional Crypto Trading

As part ofthe collaboration, OKX will focus on integrating its Nitro Spreads service with Hidden Road's prime brokerage services. Nitro Spreads enables the execution of futures and basis spreads, as well as funding rate arbitragestrategies.

Theintegration is set to offer several advantages to Hidden Road's institutionalclient base. These benefits include on-demand access to OKX's deep liquidityfor both makers and takers, minimized leg risk between markets throughguaranteed filling of matching quantities for each leg, and guaranteed spreadselection before trade execution, which mitigates unexpected price slippagerisks.

HiddenRoad continually seeks to increase market access and capital efficiency throughexpanded prime brokerage offerings, Michael Higgins, the International CEO and Global Head of Business Development atHidden Road, commented. Integrating OKX's Nitro Spreadsproduct builds upon this philosophy by extending our counterparties' ability toexecute risk-managed arbitrage strategies."

OKX Partners with Hidden Road to Offer Prime Brokerage Clients Access to Deep Liquidity and Streamlined Execution of Complex Trades https://t.co/1Z5JRmGzqm

Higginsrecently spoke with Finance Magnates, suggesting that new Bitcoin ETFswill significantly change the cryptocurrency market by introducing previously unknown strategies.

OKXrecently expanded its derivatives and cryptocurrency trading services and entered the Australian market. The offering of derivative instruments is aimed solelyat institutional investors.

OKX's Growing Presence inFutures Spreads Trading

OKX hasrecently set a new record by exceeding its highest monthly futures spreadstrading volume on Nitro Spreads, which neared US$5 billion in March 2024. Thisaccomplishment highlights the exchange's commitment to improving its servicesfor institutional clients.

Among theseenhancements is the introduction of the Quick Trading mode on Nitro Spreads,designed to streamline the selection of the Top of Book for any spread orside.

Leveragingthe superior liquidity of Nitro Spreads, our strategic partnership with HiddenRoad enables us to extend the reach of OKX's deep liquidity and efficientexecution of advanced strategies to an expanded network of institutionaltraders, commented Lennix Lai, the Global Chief Commercial Officer of OKX.

Accordingto the Finance Magnates Intelligence benchmark, OKX is the third-largestcryptocurrency exchange in terms of spot volumes, following ByBit and Binance.The platform holds a 9% market share and generates volumes of $94.12 billion.Last month, the company announced plans for European expansion and therebranding of its local branch, Okcoin Europe Ltd.

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Ripple Drops $1.25B Bombshell, Acquires Prime Broker Clearing $3T Annually

Ripple announced the acquisition of prime broker Hidden Road for $1.25 billion, in what marks the largest deal in the crypto space. The deal is touted to bring institutional customers at scale, bridging traditional finance and decentralized finance. According to the press release, the deal also positions RLUSD as an enterprise-grade collateral across Hidden Road’s prime […]

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Ripple eyes major roles for XRP, RLUSD, and XRPL following $1.25 billion Hidden Road acquisition

Ripple is set to acquire global prime brokerage platform Hidden Road for $1.25 billion. According to an April 8 statement, this acquisition makes Ripple the first crypto-native firm to own and operate a multi-asset prime broker with an established institutional network. Ripple noted that the deal will deepen its institutional service offerings and build a […]

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Crypto Prime Broker Hidden Road Partners Urges Clients to Liquidate FTX Positions

Cryptocurrency prime broker Hidden Road Partners is expected to complete the liquidation of its FTX.com holdings tonight, according to Bloomberg. (Read More)

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Hidden Road and Finery Markets Collaborate to Introduce Advanced OTC Liquidity Pool

Toenhance the institutional trading experience in the crypto space, FineryMarkets, a non-custodial crypto Electronic Communication Network andtrading infrastructure provider for institutional players, has officiallyentered into a partnership with Hidden Road Partners. This collaboration ismarked by the integration of Finery Markets' flagship solution, FM LiquidityMatch, into the operations of Hidden Road, a prime broker for crypto spottransactions.

InstitutionalShift: OTC Access in Crypto Trading

Theinstitutional participants have embraced the innovative FM Liquidity Match,which offers easy electronic access to robust institutional Over-The-Counter liquidity.

Thisensures a high-quality execution environment while safeguarding against toxicflow in crypto spot transactions. Hidden Road acts as a prime broker withinthis framework, overseeing efficient credit intermediation and post-tradesettlement for its clients engaging in crypto trades.

"Weare excited to announce that we have expanded our partnership with Hidden Road,a leading prime broker for digital assets. Through their role as a prime brokervia FM Liquidity Match, Hidden Road now offers their customers the first OTCtrading infrastructure that provides no last look execution for liquiditytakers, while also offering toxic flow protection for market makers, saidKonstantin Shulga, the Co-Founder and CEO of Finery Markets.

FMLiquidity Match Enhances Functionality

FMLiquidity Match presents a user-friendly interface, available through both aGraphical User Interface and Application Programming Interface, supportingprotocols such as FIX 4.4, REST, and WebSocket. The platform introducescutting-edge features that are poised to elevate the institutional tradingexperience to unprecedented levels.

Oneof the standout features of FM Liquidity Match is the provision for anonymoustrading within a firm liquidity pool, eliminating the concept of "lastlook" for liquidity takers and incorporating toxic flow protection formarket makers. This anonymity is coupled with a seamless electronic onboardingprocess, streamlining the experience for Hidden Road's clients. The platformfurther incorporates a role-based access system, ensuring secure and controlledparticipation.

Finery Markets has partnered with Hidden Road to launch an industry-first firm OTC liquidity pool with toxic flow protection. pic.twitter.com/iUg2Tpkfxu

Tofortify risk management, FM Liquidity Match integrates pre-trade riskmanagement controls with customizable risk limits, offering participants theflexibility to tailor their risk exposure according to their specificpreferences and strategies. Additionally, the platform supports flexiblepost-trade settlement options and adheres to travel-rule compliant reporting,meeting regulatory standards in the rapidly evolving crypto landscape.

HiddenRoad is committed to offering our clients a comprehensive range of tools, boththrough our own products and in collaboration with trusted partners. We arepleased to announce that Finery Markets' venue has joined our list of executionvenues, extending Hidden Road's credit network and OTC prime brokerageoffering."

"This partnership exemplifies our dedication to empowering clients toselect their preferred price discovery centers and liquidity solutions. Webelieve that Finery Markets unique offering is a valuable addition to ournetwork, Michael Higgins, the Global Head of Business Development at Hidden Road, said.

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