OKEx, a Malta-based digital asset exchange, has launched a new derivative product, Perpetual Swap, a peer-to-peer, virtual derivative developed by OKEx to enable traders to speculate the direction of the price of digital assets such as Bitcoin.
With the new addition, users of OKEx can now perform perpetual swap, futures contract, and spot trading with margin and leverage at one stop. Perpetual swap trading will be officially available at OKEx on 11 December 2018 at 01:00 (GMT+9).
Perpetual Swap has a mechanism very similar to futures contract, but with no expiry, and settlement occurs daily. Each swap contract has a notional value of USD100-equivalent BTC. Users can go long a position to profit from the increase of a digital asset’s price, or short a position to profit from the decline of a digital asset’s price, with a leverage of up to 100x.
Lennix Lai, Financial Market Director of OKEx, says: “This marked a key milestone for OKEx. The launch of perpetual swap demonstrated our continuous commitment to build a complete financial ecosystem on blockchain and crypto. With the new offering, investors and traders can select the products which best fit their trading and hedging strategies. However, we would like to remind our users that due to its highly leverage nature, implementing risk control strategies are equally crucial in trading.”
