Crypto exchange OKX is adding a new feature to make it easier for institutions to make large trades without risking price slippage.
According to an announcement from OKX on Thursday, the new feature, known as OKX Block Trading, will allow large orders to be transacted “in bulk.” A bulk order is a type of over-the-counter (OTC) deal that is negotiated privately between counterparties, without ever appearing on the exchange’s order book.
OKX Block Trading will allow advanced traders to execute trades in the spot, futures, options, and perpetual swaps markets, as well as combinations of these known as ‘multi-leg’ trades.
Examples of these include advanced trading strategies such as straddles, carry trades, and others, the exchange said.
After the implementation, OKX will be the only exchange that offers investors a block trading platform that integrates both spot and derivatives trading, according to the announcement.
OKX’s announcement added that it plans to expand block trading on its platform to offer an “anonymous mode for market makers, bespoke strategies and DeFi options vaults” in the future.