What really goes on at a crypto OTC desk?
Over-the-counter, or OTC, trading refers to any trading that is not done via an automated exchange. What exactly is OTC trading? Who does it, and why? To learn more about what an OTC desk is and how these under the radar exchanges operate, Magazine spoke to a few insiders to get the scoop.The most popular conception of OTC trading revolves around massive off-market deals, like when companies such as MicroStrategy make multimillion-dollar purchases using OTC desks run by the likes of Coinbase or Kraken.OTC trading is, however, not the exclusive domain of the rich, as it can also refer to....
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ItBit has launched its Global OTC Agency Trading Desk, a new, five-person over-the-counter (OTC) trading service that allows customers to complete trades outside its online order books. The trading desk will facilitate transactions of 100 BTC (roughly $28,000 at press time) or more with no broker or trading fees. As part of a limited promotion, new users will also receive $50 in bitcoin for completing their first trade. ItBit Institutional Client Group director Bobby Cho noted that the new product aims to appeal to large volume buyers who want to avoid exchange slippage, whereby their....
Singapore and New York based bitcoin exchange itBit has introduced its itBit Global OTC Agency Trading Desk, a service that specializes in facilitating over-the-counter (OTC) transactions. OTC transactions are bulk trades for bitcoin that are made outside of an exchange's regular order book. It is an often used form of trading when large amounts of bitcoin are involved, in order to prevent bitcoin's exchange rate from either slipping or rising due to one large volume buy or sell. Bobby Cho, Director of Trading at itBit, said: “Up until now, the OTC bitcoin trading market has been operating....