FTX, a popular crypto derivatives exchange, has partnered with a liquidity investment venture, Paradigm. The exchange confirmed the development in a release on its official handle. Both firms will collaborate to unveil crypto futures spread trading services. Reportedly, this development will pave the way for the users of both firms to easily trade the spread between spot, perpetual, and futures on BTC, ETH, SOL, AVAX, APE, DOGE, LINK, and LTC.
Paradigm and FTX will also benefit from the partnership as it tends to aid their expansion. The collaboration tends to extend their client base and product efficiencies. Also, FTX is optimistic that it tends to bring about new passionate investors in cash and carry trades.
Sam Bankman-Fried, the CEO of FTX, reacted to the development. He sees Paradigm as “a leading network providing institutional liquidity for crypto derivatives.” He expressed his team’s delight in widening its relationship with a formal partnership with Paradigm.
According to him, the collaboration tends to aid product developments to benefit their respective users. Bankman-Fried added that the “structured spread trading product is the first that will enable crypto investors to utilize cash and carry trades through FTX and Paradigm.”
Anand Gomes, the CEO of Paradigm, hinted that the venture is committed to its trading goals, stressing that the partnership with FTX is the third on future trades. He added that Paradigm aims to aid the adoption of a liquid interest rate curve in crypto.
Gomex expressed his delight at the firm’s collaboration with FTX, saying it tends to enable users to utilize “single-click” trading with “no leg perpetual risk” with fewer fees. According to the CEO, “FTX and Paradigm have a longstanding relationship, and I am ecstatic that we can bring our two companies together to improve the crypto ecosystem.”
The liquidity venture hinted that spreads trading remains a productive technique to implement multi-leg, delta-neutral strategies without execution risk or order book impact, regardless of the trade size. It is optimistic that its collaboration with FTX will avail worthwhile spread trading for users. Similarly, the firm believes it will bring numerous other benefits to its joint customers.
Paradigm further hinted that spread trading envelopes numerous benefits. According to the firm, it avails market participants with lower fees and more profound and tighter liquidity. Reportedly, every subscriber who executes spreads on Paradigm and clear on FTX will enjoy a 50 percent fee reduction.
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