Aster Launches OTC Trading for Private BTC Perpetual Deals
The new service initially supports BTC perpetual contracts through the BTC-USDT market, with additional markets planned to follow. The feature is designed around direct agreements between counterparties rather than orders being matched through the public order book.
Aster Introduces Private Trade Execution
Under Aster's OTC mechanism, one participant establishes the terms of a deal and generates a Deal Code. The counterparty can then review the proposed terms and sign to accept them.
Once both sides agree, the position can be opened at the privately negotiated price. This separates the transaction from the public market's visible order flow, according to the information shared by BSCN.
The arrangement is particularly structured around the price agreed between the two parties. Aster requires the negotiated price to remain within 8% of the mark price.
That restriction establishes a defined range around the market reference price while still allowing counterparties to negotiate the terms of an individual transaction.
BTC Perpetuals Lead the Rollout
BTC-USDT perpetual contracts are the first market available through Aster's OTC trading feature. BSCN reported that additional markets are expected to be added later.
Perpetual contracts allow traders to maintain positions without a fixed expiration date. In Aster's new OTC setup, counterparties can agree directly on the execution price before opening the position rather than relying on a publicly displayed market order.
The Deal Code provides the mechanism for transferring the proposed transaction from one party to the other. One side defines the terms, while the other confirms them by signing the deal.
The 8% limit against the mark price remains a key condition of the process. It means that although the transaction is privately negotiated, the agreed execution price cannot be set arbitrarily far from Aster's reference market price.
More Markets Planned
Aster's initial rollout is limited to BTC-USDT perpetuals, leaving the scope of future market additions open beyond the statement that more markets will follow.
For now, the launch establishes a private trading route for eligible BTC perpetual transactions, with counterparties able to negotiate directly and complete the agreement through Aster's Deal Code system.
The availability of additional markets will determine how broadly the OTC mechanism is extended across Aster's trading products.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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