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This seems to be a great move to round off its suite of encrypted financial products. Their users can now trade on futures contracts, perpetual swaps and spot trading with margin and leverage only at one stop. However, the service will be officially live on OKEx next week by December 11, 2018, around 01: 00 (GMT + 9).
The OKEx exchange is a leading digital asset platform in Malta. Perpetual Swap is basically a P2P, a virtual derivative that OKEx has designed. This will allow traders to speculate on the direction of the prices of digital assets like Bitcoin.
What is the OKEx product – Perpetual Swap?
This new technology is designed to help economic operators to control cryptocurrency prices on their own in a better way. It works like the futures contract, without expiration. The settlements are carried out on a daily basis. Respectable customers can then stretch and reduce a position to take advantage of the asset reduction and exploitation analysis, using up to 100x.
Users can incorporate a provision for the trademark price mechanism that will avoid unnecessary liquidation. This will also minimize transaction fees. Moreover, it will result in rapid settlements, the partial liquidation system will reduce the influence of the liquidation of forces. In addition, the margin system will allow you to leverage traders and remain in line with risk appetite and market conditions.
The Perpetual Swap serves traders who follow the exceptional characteristics of the futures contract:
- No expiration: the trader's positions can be extended indefinitely;
- Trade is almost close to the underlying benchmark index. This is not the case with the futures contract; Traders can normally trade at a distinct price to identify the market
- The leverage level of 1-100x is available for free
- Traders can track the spot market price through a financing mechanism
- They have access to the trademark price mechanism that avoids unnecessary liquidation
- Swaps can pay off quickly and traders can withdraw profits on a daily basis;
- Partial liquidation system – minimizing the impact of the market during forced liquidation
The OKEx financial market director, Lennix Lai, says the new product represents a "key milestone for OKEx". He continues,
The perpetual swap launch demonstrated our continued commitment to building a complete financial ecosystem on blockchain and crypto. With the new offer, investors and traders can select the products that best fit their trading and hedging strategies.
Furthermore, Lai reminds its users of the high nature of product leverage, considering that risk control strategies are equally crucial during trading.
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Summary
Item name
OKEx Again In News Headlines launches its product Perpetual Exchange
Description
Today, OKEx exchange launches its derivative product: Perpetual Swap. This is a great advantage for OKEx users to take advantage of the products on their platform.
Author
Delma
Publisher name
Coinpedia
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