OKEx Launches Perpetual Swap Derivative Product December 20, 2018 December 20, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsDecember 20, 2018 by Kelly Cromley

OKEx Launches Perpetual Swap Derivative Product

Malta-based OKEx, presently the second largest 24-hour adjusted volume crypto exchange, has introduced a new Bitcoin derivative product with no expiry date, which implies users can keep their positions open indefinitely.

The product, dubbed a “perpetual swap,” permits crypto traders to guess on the future value of the Bitcoin (BTC) index relative to the US dollar (USD) in OKEx.

Each swap contract has a conceptual value of $100 equivalent in BTC, the exchange mentioned in a statement, adding that traders can either take a long time to profit from an increase in the price of Bitcoin or a short time to profit from the erosion in the price of Bitcoin.

The latest product offers up to 100 times the leverage compared to the 10 times that are commonly offered on conventional capital markets. Settlement time is 04:00 and 16:00 UTC daily, while the perpetual swap contract price is “close to the spot market price,” the exchange said.

The perpetual swaps of OKEx also present a “standard maintenance margin ratio” feature that permits traders with open positions to modify their leverage to their desire for risk and market conditions, and a “mark price” mechanism to assist traders prevent needless liquidations at high volatility times.

The exchange said that in future it aims to list swaps between various cryptos.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.