The OKX Liquidity Marketplace is a request-for-quote (RFQ) trading platform designed for professional institutions and high-net-worth individuals to execute various types of block trades.
To streamline user operations and reduce execution costs, the OKX Liquidity Marketplace offers multiple dedicated block trading strategies. These strategies cater to different trading scenarios, enabling users to maximize returns while minimizing time and effort.
👉 Explore advanced trading strategies
What Types of Block Trades Can Be Executed on OKX's Liquidity Marketplace?
A block trade refers to a large, privately negotiated transaction that allows users to trade spot, futures, options, or any combination of multi-leg structures (Note: Services may be unavailable in certain countries/regions. If your location is excluded, you will not be able to access or execute these trades). These instruments are traded over-the-counter at mutually agreed-upon prices. Once both parties reach an agreement, the trade is submitted to the platform for margin calculation, execution, and settlement. This process helps users avoid price slippage risks and minimizes the impact of large orders on mark prices.
The suite of block trading strategies available on the OKX Liquidity Marketplace includes:
- Basis trading strategies
- Futures spread strategies
- Bull call spread strategies
- Bear put spread strategies
- Covered strategies
- Straddle strategies
- Strangle strategies
OKX continues to expand its strategy offerings to meet the diverse needs of its users.
How to Execute Block Trades on OKX's Liquidity Marketplace
Accessing the Liquidity Marketplace
- Open the OKX website and log into your account.
- Hover over the "Trade" option in the navigation bar and select "Liquidity Marketplace."
- On the Liquidity Marketplace homepage, click "Start Trading."
If you have completed identity verification and hold over $10,000 in your account, you will gain access to the block trading module. If not, you must complete verification and deposit sufficient cryptocurrency to meet the minimum asset requirement.
Using Preset Strategies for Trading
Beyond custom strategy creation, OKX offers preset strategies that users can modify to suit their needs. This approach saves time and simplifies the trading process.
This demonstration uses the simulation environment. Upon entering the Liquidity Marketplace, you will automatically land on the [Create RFQ] page. Here, multiple trading strategies are listed below. Filter strategies by asset (e.g., BTC) and market condition (e.g., volatile markets) to view relevant options like straddles and strangles.
Select a strategy, such as the straddle, to create an RFQ. Fill in the parameters, specify counterparties, and click "Publish RFQ" to list the order on the market.
Further details on publishing RFQs and executing trades are covered in the custom strategy section.
Creating Custom Trading Strategies
From the [Create RFQ] page, click "Create Custom RFQ."
- Select Asset: Choose the asset for your block trade. Scroll or search by name/code to find relevant cryptocurrencies. The platform supports hundreds of cryptocurrencies, with block trading particularly advantageous for low-liquidity assets.
- Choose Instrument: Select spot, perpetual, futures, or options. Available instruments depend on the chosen asset. For this demo, we buy BTC spot.
- Set Direction and Amount: Choose buy/sell and enter the amount. Click "Done."
- Manage Legs: Your RFQ appears in the "RFQ Builder" section. Add, edit, or delete legs to construct multi-leg strategies. The "Add/Edit Leg" button allows additional legs for complex strategies.
- Select Counterparties: Click "Choose Counterparty" to select recipients. Check boxes for desired counterparties or use "Select All" to send to up to 15 parties. Anonymous submission is also possible.
- Review and Send: Double-check all details and click "Send RFQ."
The page redirects to the RFQ market, where your request appears with creation date, expiration time, and status. Counterparty quotes display here. RFQs typically remain valid for 2 minutes (10 minutes for options).
Counterparties reply with quotes, which stay valid until expiration. They are incentivized to offer competitive prices since they don't know which side you'll choose. Quotes may cover both legs or only buy/sell.
View quotes in the RFQ market. To accept, click "Buy" or "Sell." If unsatisfied, request a "Reprice." After clicking "Buy," review the order details in the pop-up and click "Confirm Trade" to execute.
Other traders remain unaware of your block trade, aiding strategy execution. Post-trade, the status updates to "Bought/Sold" in the RFQ market. Completed trades appear in the "Order History" section or via email summary.
Benefits of Using OKX for Block Trades
OKX simplifies block trading, making it accessible beyond institutions and hedge funds to crypto natives and high-net-worth individuals. Users can execute large orders efficiently while avoiding price slippage.
Frequently Asked Questions
What is a block trade?
A block trade is a large, privately negotiated transaction executed off the public order book to minimize market impact and avoid slippage.
Who can use OKX's Liquidity Marketplace?
The platform is designed for professional institutions and high-net-worth individuals who meet the identity verification and minimum asset requirements.
What instruments are available for block trading?
Users can trade spot, perpetual contracts, futures, options, and multi-leg combinations, depending on asset availability and regional support.
How long is an RFQ valid?
Standard RFQs are valid for 2 minutes, while options RFQs remain valid for 10 minutes.
Can I trade anonymously?
Yes, OKX allows anonymous RFQ submissions to protect your trading strategy.
What if I'm not satisfied with a quote?
You can request a reprice or wait for other counterparties to provide better quotes before the RFQ expires.