Liquid Marketplace

The most powerful on-demand liquidity network for professional and institutional traders.
Instantly trade spot OTC, futures spreads, and options strategies at the price you want.
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RFQ automation
Custom multi-leg strategies
RFQ Board

RFQ automation

  • Automated RFQ workflow with integrated position builder
  • Anonymous RFQs with two-way quotes
  • End-to-end connectivity with OKX risk management and settlement
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Custom multi-leg strategies

  • Choose from a variety of classic strategies: futures spread, carry trade, and more
  • Request quotes on futures spreads and basis trades at a click of a button
  • Easy way to express views on market direction and volatility
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RFQ Board

  • View competitive two-way quotes on your RFQ, ensuring your price is the best one available on the market
  • Secure your assets with OKX's risk management, clearing, and settlement system
  • Easily view, manage, evaluate your RFQs and quotes in one place
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Beginner tutorial
Liquid Marketplace in an example
Let's say, you want to sell 1,000 ETH at the market price of $1,900. Now, that's a million-dollar trade. Once it gets put on the order book, it may cause price slippage and drive down ETH's market price. Instead of impacting the market, you can secure a favorable price by placing your oder on our Liquid Marketplace. First, send an RFQ only to the market makers you selected and receive two-way quotes. Then, choose a price you like and carry out the trade discreetly.
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FAQ
    What is block trading?
    A block trade is a large, privately negotiated securities transaction that is settled over-the-counter (OTC). They are common among institutional investors, hedge funds, and high-net-worth individuals deploying significant capital. When executing large orders on exchanges, traders risk disrupting the market and causing extreme price changes. Alternatively, takers and makers can agree on a settlement price discreetly and privately with a request-for-quote (RFQ).
    What is an RFQ?
    A request-for-quote, or RFQ, is an electronic notification sent to market makers expressing the sender's intention to trade a specific instrument or strategy. Market makers will be alerted once an RFQ has been sent and will be prompted to submit an ask and a bid price for the request.
    Is there a minimum assets requirement for trading in the Liquid Marketplace?
    Yes. In order to trade in the OKX Liquid Marketplace, please make sure your OKX trading account has at least 100,000 USD or equivalent.
    What is the minimum size of a block?
    The minimum notional size for a block trade is 50,000 USD or equivalent but is subject to exceptions during times of market volatility.
    Which trading pairs are supported in the Liquid Marketplace?
    All trading pairs listed on OKX are available to trade on OKX Liquid Marketplace.
    What instruments are available in the Liquid Marketplace?
    Spot, perpetual swaps, futures, options, and multi-leg strategies are supported on OKX Liquid Marketplace.
    What information is required to start trading in the Liquid Marketplace?
    You must first pass identity verification level 2 — photo verification.