What Are the Primary Differences between Centralized and Decentralized Options Trading Platforms?

Centralized platforms (CEXs) act as intermediaries, holding custody of assets and guaranteeing contract fulfillment through their own clearinghouse. They offer high speed and familiar order-book trading.

Decentralized platforms (DEXs) are non-custodial, executing contracts via smart contracts on a blockchain, often using AMMs or peer-to-pool models. DEXs offer greater transparency and censorship resistance but may have higher gas costs and lower execution speed.