What You Should Know:

• Deribit has unveiled a Block Request-For-Quote (RFQ) interface for large over-the-counter (OTC) trades.
• The feature is accessible to all users but designed specifically for high-volume traders.

Deribit, a leading platform in crypto options trading, has launched an innovative Block RFQ system that allows traders to efficiently conduct large OTC transactions.

This new feature enables seamless negotiations for block trades without affecting the public order books, as noted in a press release.

The Block RFQ interface also promotes complex trading strategies, allowing users to merge options, futures, and spot pairs up to 20 legs in a single execution, although it requires a higher minimum trade size.

Additionally, the platform operates under a multi-maker model that allows various liquidity providers to submit partial quotes instead of full transaction fills. Third-party platforms can also connect to the RFQ system to pool liquidity from various sources, as announced in the release.

Shortly following this announcement, Deribit informed its community that Sygnum Bank had expanded its custody capabilities to include the derivatives exchange. They are also reportedly in discussions for a potential acquisition by Kraken.