Crypto Jumbo OKEx providing financial services to its global traders of Malta-based having its headquarters in Hong Kong which delisted its trading pairs and its group of assets is a very highlighted news has begun a new cognate subordinate product called Perpetual Swap trading which is very much similar to the Future’s contract which has no expiry or settlement and here the primary mechanism is to tether to spot price is funding while according to a press release with Cointelegraph on Dec 3rd,2018.
Perpetual Swap is a peer-to-peer, cybernetic imitative thing that was developed by OKex, which enables users to hazard the direction of the fee of digital assets. Each swap contract has a speculative value of $100 Bitcoin (BTC) corresponding to it.
As per the release is considered, the new derivative product allows its users to perform these swaps, futures contract, and spot trade with margin and control at once. OKex reportedly will start Perpetual Swap trading from December 11, 2018.
Agreement trading for this allows users to buy and sell digital currencies at fixed prices at definite times in the near future, giving stakeholders and agents for trades a chance to open both long and short positions and spots.
Director for OKEx Financial Market Lennix Lai noted that “we would like to prompt our users that due to its high leverage power nature, instigating risk control policies and strategies are equally vital in trading.”
In October this year, OKEx also delisted over its 50 trading pairs with frail liquidity and trading volume issue. Later this November, the exchange broadcasted it delisted the second band of trading pairs due to the same problem in order to “create a vigorous trading situation and offer the best exchange experience” for the traders.
In late November also the leading digital currency exchange Huobi a Singapore based cryptocurrency exchange firm launched the Huobi Derivative Market (Huobi DM), permitting its customers to engage in contract trading for cryptocurrency on both rising and falling of its prices.
At this press time, OKex is the world’s second largest cryptocurrency exchange in terms of adjusted daily trading volume around $523 million, according to CoinMarketCap where the first is Binance which was founded by Changpeng Zhao having its base moved to Malta.