With Block Trading, users can integrate spot and derivatives trades on the same platform and trade multiple currencies in a single trade. The service supports trading of perpetual swap, futures, and option contracts with popular altcoins as the underlying.
OKX has launched Block Trading, thus allowing professional and institutional users to execute large, privately negotiated transactions off the order books, the firm announced.
Through the OKX cryptocurrency platform, users can execute crypto spot, futures, options, and perpetual swap trades, as well as multi-leg combination trades, over the counter.
Since trades are executed over the counter, traders avoid the risk of price slippage — the divergence of quoted sell price and actual sell price, the announcement stated.
OKX has plans to eventually expand Block Trading to offer bespoke strategies, further OTC products and integrations with Dei derivatives protocols.
The crypto exchange, which ranks second globally in derivatives trading volume, offers a portfolio margin mode for multi-currency margining with a risk offsetting functionality, and offers over 500 spot pairs and more than 250 linear and inverse perpetual swaps and futures contracts.
OKX explained that, to execute a block trade on OKX, traders first submit a request-for-quote (RFQ) that broadcasts their request to selected counterparties, who then offer a quote in response. If the trader accepts the quote, the trade is then executed off the order books via OKX’s trading engine. Investors can discover more about how OKX Block Trading works on OKX Learn.
Traders enjoy competitive pricing and single-click atomic trade execution when performing multi-leg trading strategies on the platform, which enable a combination trades, including future spreads, straddles and carry trades.
With Block Trading, users can integrate spot and derivatives trades on the same platform and trade multiple currencies in a single trade. The service supports trading of perpetual swap, futures, and option contracts with popular altcoins as the underlying.
The platform allows for multi-leg combination trades, including future spreads, straddles and carry trades, among others.
Lennix Lai, Financial Markets Director, OKX, said, “As the crypto market matures and more professional and institutional investors enter it, OKX is introducing Block Trading to ensure these users have the tools they need to invest well. Block Trading on OKX allows investors to not only make large trades at more favorable prices, but to do so without the risk of their trading causing price slippage.”
Clément Florentina, CEO, Darley Technologies, said, “OKX has always been one of the most user-friendly exchanges for institutional traders like ourselves, with features like portfolio margin providing greater capital efficiency. Block Trading on OKX opens up additional opportunities for us to quote sophisticated, multi-instrument strategies, without the counterparty having to worry about slippage or execution.” Darley Technologies is a high-frequency trading firm that delivers market making and liquidity provision on a range of prominent exchanges.