: The desk provides a single "all-in" price. This protects the buyer from slippage , where large orders on a public exchange would consume the order book and drive the price up unfavorably.
Unlike standard exchange trading, which uses a "lit" order book where every bid and ask is visible, OTC trading occurs "off-exchange". Core Entities in the OTC Ecosystem buy bitcoin otc
: These desks trade against their own inventory, taking the opposite side of the client's trade to ensure immediate execution. : The desk provides a single "all-in" price