Exchange Huobi Launches OTC Trading Service and Open New Office in UK
Houbi announced two senior appointments. Namely, Lester Li will assume the position of European Exchange Director, while Josh Goodbody will be taking the tasks of General Counsel and Chief Compliance Officer at Huobi UK.
This is all happening at a moment when Huobi is experiencing a rapid expansion in Europe and when there is a high demand from the crypto trading community.
What Is Huobi OTC?
Huobi designed the OTC and Quant Trading services specifically with master crypto-traders in mind. Huobi OTC, the “over-the-counter” service that is for all those who intend to trade a large amount of cryptocurrency, will be in beta testing mode in the UK in Q3 2018.
Trading large amounts of virtual currency in this way is much safer than on an exchange. Huobi OTC, for instance, shields all parties from price instability in the market-at-large during the transaction, the company explained in its press release.
Huobi OTC service will have a zero percent commission fee, meaning it is completely free for transactions. As a reminder, other main OTC platforms charge for their services.
“Huobi has pioneered this type of service, as we believe OTC trading is a key ancillary service within the cryptocurrency trading space. This service is aimed to protect users against price volatility, providing the route to minimize risk in large volume transactions. Huobi’s commitment to this tool is the reason why we will be providing it on a zero fee basis,” Josh Goodbody said.
Huobi’s goal it to make virtual currencies more accessible to the general public by providing a more straightforward OTC platform with no transaction costs. The people behind Huobi unveiled the extension of their OTC service to the European market at the Quant Trading Summits in London and Amsterdam in June 2018, which gathered more than 210 crypto-traders well versed in the business.
What about Huobi Quant Trading Service?
Huobi OTC compliments its Quant Trading Service. This service refers to quantitative trading, which is one of the various popular strategies used to manage crypto trades. The quantitative analysis that this strategy uses facilitates the discovery of trading opportunities, which demand execution by an automated system because of their complexity.
The Huobi Quant Trading will allow the investors to take advantage of the functions of arbitrage, market making, and trend predictions.
According to the company, another advantage of quantitative trading is that emotion is absent from the trading process.
Why an Office in London?
First and foremost, Huobi’s presence in London will facilitate better access to European financial markets and will make it possible for UK-based blockchain and cryptocurrency unicorn companies to benefit from Huobi Labs and the Huobi Ecosystem Fund.
The group chose London as the seat of the first office in Europe because it is a global financial center and the largest crypto trading center in the region. Moreover, it is well-known for its gigantic active blockchain community and rapidly developing market.
“The launch of Huobi Group’s office in London is in response to the high demand we have seen in Europe, which was perfectly illustrated this month with huge turnouts at our Amsterdam and London quant trading summits. Our OTC and Quant Trading services are significant enhancements to the Huobi product suite, and we look forward to rolling out other services to improve the trading experience for Huobi customers in the future,” Lester Li explained.
Huobi Group has served millions of users in over 135 countries and regions to take part in crypto markets, with offices in Singapore, South Korea, Hong Kong, the United States, and many others.