Wintermute onboards its 1,000th counterparty in response to increasing “over the counter” trading demand
14 JUN 2023 | NEWS
At Wintermute, we recognize the growing significance of efficient and adaptable access to digital asset liquidity in dynamic market conditions. The complex market events in the second half of 2022 and banking disruptions of early 2023 further emphasized the critical importance of having access to reliable liquidity at all times. As a trusted over the counter (OTC) trading partner, we remained unwavering in our commitment to delivering consistent access to liquidity. This dedication has been reflected in a remarkable 3x year-over-year increase in our number of counterparties, expanding our network to over 1,000 counterparties as of Q2 2023.
Our extensive connectivity to a large number of venues and liquidity pools, coverage of hundreds of digital assets combined with our technical sophistication, enables us to execute trades of any size while maintaining a seamless trading experience. Since May of 2022, we executed over 8.4M total OTC trades with the biggest single trade exceeding $1 billion, showcasing our capability to handle substantial transactions with ease.
Over the past 12 months, Wintermute has expanded the coverage of digital assets leading to a 30% increase in the total number of pairs traded, amounting to over 600 different trading pairs offered at peak market activity.
On the product side, we continuously expand the products we trade, as well as the ways counterparties can trade with us.
Wintermute OTC products: infinite possibilities of digital asset trading in spot and derivatives
With Wintermute, you have the freedom to trade any token directly (spot) or as an underlying asset (derivative), all while utilizing your preferred trading channel at the time that suits you best.
You can trade a wide range of product options, including Delta 1 products such as perpetuals, futures, CFDs, and NDFs. We can also provide an extensive suite of tailored products that cater to various trading needs by combining vanilla options and futures strategies.
When it comes to pricing, our counterparties benefit from the same pricing used by the algorithms leveraged in our proprietary trading business. Our high trading volumes also place us in the lowest fee tiers on exchanges, meaning we are always able to offer tight spreads. Moreover, you can trade with us in the way that suits you best, whether it’s through popular chat systems, the intuitive trading web interface of Wintermute NODE, or seamless API integration.
Note: Derivative products are traded through Wintermute Asia in Singapore and are only available in select jurisdictions.
Wintermute API: Direct connectivity to liquidity at its source
API access is a fundamental aspect of Wintermute OTC, providing a robust framework for tailored integrations and meeting the specific requirements of institutional traders. With 99.99% uptime, no hold times, and very low reject rates we’ve become a counterparty of choice for sophisticated traders, large retail and institutional brokers, and other institutions looking for reliable access to deep liquidity. With a presence in multiple regional data centers, we ensure minimal latency between counterparty orders. Additionally, our execution capabilities and commitment to continually adding new tokens to our API ensures day 1 support for the projects we provide liquidity for.
As always, we value the feedback we receive from our counterparties and are working on adding new functionalities to better meet their needs. We recently increased the decimal place precision for assets, resulting in even more precise trading capabilities and we are actively developing support for additional order types to provide a more diverse range of trading options.
Wintermute NODE: Easy-to-use click-to-trade platform
Wintermute NODE offers a streamlined click-to-trade web interface that brings our top-tier proprietary pricing to a wider range of counterparties, including crypto natives, family offices, hedge funds, and qualified high-net-worth individuals. Our OTC trading platform was designed to be intuitive, eliminating the need for allocating IT resources for integration and maintenance and enabling a more efficient and direct trading experience with us.
Featuring a clean and modern design for seamless navigation, Wintermute NODE supports trade execution on both desktop and mobile devices, allowing our counterparties to manage their positions and trade OTC anytime, anywhere.
Key benefits of the Wintermute NODE trading platform include a range of features: the ability to personalize your trading experience by setting custom order book levels; added flexibility and control with various order types for precise trade execution, such as resting limit orders and algorithmic (TWAP) orders; access to full API and UI trade history; access to historical market data through familiar TradingView chart functionalities. Our platform also offers the option to stream live two-way prices or use request for quote (RFQ) with specific trades, while also employing industry-standard security practices. This enables counterparties to adapt their trading strategies according to their needs and market conditions.
Staying true to our mission: Advancing transparency and decentralization in a changing landscape
In an industry marked by continual transformation and evolving dynamics, Wintermute remains committed to our mission of enabling, empowering, and advancing the truly decentralized world for more transparent, fair, and efficient markets and products. For OTC, this means working very hard on offering advanced solutions to our counterparties, transparent pricing with no fees, transparent communications, and the highest compliance standards.
Disclaimer: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more here. This article is provided for information purposes only and does not constitute an offer or solicitation for the purchase of any cryptoassets or any form of financial instruments referencing cryptoassets. Trading with Wintermute is only available for entities and qualified individuals; products may not be available in your jurisdiction. Neither Wintermute Trading Ltd nor Wintermute Asia Pte. Ltd is authorized or regulated by any regulatory authority, meaning you may not benefit from the protections typically provided when trading with regulated entities, such as any compensation or ombudsman schemes.