OKEx launches new trading instruments
OKEx Cryptocurrency Exchange has launched a new tool for analyzing information that reflects the trends in derivatives trading. The platform will give customers the ability to receive real-time data on futures and swap markets for nine major cryptocurrencies, including Bitcoin, Ethereum and XRP.
A platform called Futures & Perpetual Swap Market Data gives users six indicators of market trends: the ratio of long and short positions, the difference between the prices of the futures contract and the underlying asset, open liabilities and trading volume, the volume of purchases and sales, sentiment indicators of the best traders and the average margin of leading traders.
The purpose of the new tool is to provide users with objective information for creating trading strategies in the derivatives market. The head of the OKEx operations department, Andy Cheung, noted that trading derivatives are not an easy thing.
“Once we realized that there isn’t really much data available in the market to help users analyze market trends, we decided to build a tool that can benefit our users. That’s why we launched this big data platform, and we are proud to say that we are the first in the industry to provide this kind of data,” commented Andy Chen on Twitter.
05 August, 2019 14:03
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