Exchange digital assets OKEx Monday announced that is launching a new derivative product – a perpetual swap which further brings it closer to providing a complete set of financial crypto-products.
According to a press release OKEx, perpetual swap is a virtual derivative intended for transactions between private individuals. The product was created to allow investors to speculate on the course of cryptocurrencies like bitcoin.
A perpetual swap works like a future, but it has no expiry date and the calculations on it happening every day, allowing traders to withdraw their profit on daily basis. In addition, the leverage ratio for the indefinite swaps OKEx is 1:100.
Each swap contract OKEx has a nominal value equivalent of $ 100 in BTC. Users can choose two strategies: to invest in a long position and capitalize on growth rate, digital currency, or to invest in short positions and to capitalize on the fall of its rate.
Thus, now users OKEx will have access to perpetual swaps, futures and spot trading with leverage. The new product, according to a press release, will be officially available on 11 December 2018.
«This is an important milestone for OKEx. The launch of the perpetual swap demonstrates our constant desire to create inclusive financial ecosystem for the blockchain and cryptocurrency. Thanks to this new financial instrument investors and traders will be able to choose the products that best fit their trading and hedging strategies. However, we would like to remind you that this product has a large leverage, so when it is used a very important strategy for risk management,» commented the news Director OKEx on the financial markets in Lennox Barking.