The global exchange FTX and Paradigm will provide “guaranteed atomic execution and bilateral clearing” for futures trading on eight cryptocurrencies. Together with cryptocurrency exchange FTX, Paradigm announced the launch of spread trading.
Paradigm said as part of the FTX partnership; users could use “one-click” trading without “leg risk” for the spread between spot, perpetual and fixed-term Bitcoin (BTC) futures, Ether (ETH), Solana (SOL), Avalanche (AVAX), ApeCoin (APE), Dogecoin (DOGE), Chainlink (LINK) and Litecoin (LTC). FTX will provide “guaranteed atomic execution and bilateral clearing” for trades.
FTX has officially partnered with the leading institutional liquidity network @tradeparadigm to make it easier and cheaper than ever to trade the spread between spot, perpetual and futures instruments on $BTC, $ETH, $SOL, $AVAX, $APE, $DOGE, $LINK and $LTC!https://t.co/O7chj4l09C pic.twitter.com/mbqjpo6qCQ
—FTX (@FTX_Official) August 12, 2022
According to Paradigm CEO Anand Gomes, the deal has attracted new cryptocurrency investors interested in cash and trades – leveraging spot purchases of cryptocurrencies and futures on FTX. According to the firm, adopting atomic execution for both legs of spread trading was “structurally less risky” than regular FX execution, allowing market makers to “quote much tighter prices and at sizes significantly larger.”
According to Paradigm, the fees will be 50% lower than if two individual outright trades were made. Paradigm collaborated with cryptocurrency derivatives exchange Deribit to create a block trading solution in 2019.
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