Deribit Introduces RFQ Locking System to Improve Liquidity for Large OTC Trades
The new interface, designed specifically for high-volume traders, allows for efficient and liquid large block trades.
By Francisco Rodriguez, CoinDesk Bot | Edited by Parikshit Mishra , Mar 6, 2025 10:37 AM UTC
Key points:
- Deribit has implemented a Block Request-For-Quote (RFQ) interface for large over-the-counter (OTC) trades.
- The feature is open to all users, but is aimed at traders with large trading volumes.
Deribit, a leading crypto options trading platform, has introduced a Block Request-For-Quote (RFQ) interface that provides traders with the ability to execute large over-the-counter (OTC) trades with improved efficiency and liquidity.
According to the press release, this feature is available to all users, but is intended for traders with large trading volumes, allowing them to make block trades without affecting open order books.
The Block RFQ system supports complex trading setups, allowing traders to combine options, futures and spot pairs with up to 20 legs in a single trade, but there is a higher minimum trade size required to use the system.
The platform implements a multi-maker model, allowing multiple liquidity providers to offer partial quotes rather than requiring all-or-nothing execution. Third-party platforms can also connect to the Block RFQ system to pool liquidity from multiple sources, according to the press release.
Deribit announced the new system shortly after the expansion of Sygnum Bank's custody platform to include a derivatives exchange. It's also worth noting that the trading platform is reportedly in talks with Kraken about a possible acquisition.
