Malta-based Cryptocurrency Exchange Okeex has launched a new derivative product called Perpetual Swap Trading, according to a press release shared with Cointeldeg December 3.
Perpendicular swap is a peer to poker, virtual derivative developed by OKEX, which enables users to spell the price of digital assets. Its mechanism is reportedly very similar to a futures contract, but with no expiry and daily settlement. Each swap contract is a notional value of $ 100 bitcoin (BTC) equivalent.
By the release, the new derivative product allows users to perform perpetual swaps, futures contracts, and space trading with margin and leverage simultaneously. Okex will report on start-ups on 11th of December.
Contract trading allows users to buy and sell digital currencies at predetermined prices at specified times in the future, giving investors and traders an opportunity to open both long and short positions.
Okex Financial Market Director Lennys Lakes noted that "we would like to remind our users that due to its high leverage nature, implementing risk management strategies are equally critical in trading."
In October Okeyks over 50 trading pairs with weak liquidity and trading volume. Later in November, the exchange instead of delisting a second weak trading pairs due to "weak liquidity" to "make a sound trading environment and offer the best trading experience" for traders.
In late November, leading digital currency exchange Huobi launched the Huobi Derivative Market (Huobi DM), allowing its customers to engage in crisis-crippling contract trading on both rising and falling cryptocrine prices.
At Print Time, OKEX is the world's second largest cryptocurrence exchange in terms of adjusted daily trading volume, which is around $ 523 million, according to Coinmarketcap.